Parker-Hannifin Co. (NYSE:PH) Shares Purchased by Clearbridge Investments LLC

Clearbridge Investments LLC raised its position in shares of Parker-Hannifin Co. (NYSE:PH) by 122.3% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,001 shares of the industrial products company’s stock after buying an additional 1,101 shares during the quarter. Clearbridge Investments LLC’s holdings in Parker-Hannifin were worth $922,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of PH. FMR LLC raised its position in shares of Parker-Hannifin by 9.6% during the 3rd quarter. FMR LLC now owns 3,689,402 shares of the industrial products company’s stock worth $1,437,096,000 after purchasing an additional 324,063 shares during the period. Invesco Ltd. raised its position in shares of Parker-Hannifin by 1.8% during the 3rd quarter. Invesco Ltd. now owns 2,911,452 shares of the industrial products company’s stock worth $1,134,069,000 after purchasing an additional 52,739 shares during the period. Norges Bank acquired a new stake in shares of Parker-Hannifin during the 4th quarter worth approximately $665,188,000. Northern Trust Corp raised its position in shares of Parker-Hannifin by 2.9% during the 3rd quarter. Northern Trust Corp now owns 1,310,125 shares of the industrial products company’s stock worth $510,320,000 after purchasing an additional 36,744 shares during the period. Finally, Alphinity Investment Management Pty Ltd raised its position in shares of Parker-Hannifin by 42.2% during the 4th quarter. Alphinity Investment Management Pty Ltd now owns 1,132,756 shares of the industrial products company’s stock worth $521,861,000 after purchasing an additional 336,370 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of NYSE PH opened at $529.83 on Monday. The stock has a fifty day moving average price of $548.76 and a two-hundred day moving average price of $501.41. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.50 and a current ratio of 0.87. The firm has a market cap of $68.10 billion, a P/E ratio of 24.97, a PEG ratio of 2.12 and a beta of 1.51. Parker-Hannifin Co. has a 1 year low of $319.14 and a 1 year high of $570.15.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $6.51 EPS for the quarter, beating analysts’ consensus estimates of $6.10 by $0.41. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. The company had revenue of $5.07 billion during the quarter, compared to the consensus estimate of $5.07 billion. During the same quarter in the prior year, the firm earned $5.93 EPS. The company’s quarterly revenue was up .3% compared to the same quarter last year. Research analysts forecast that Parker-Hannifin Co. will post 24.84 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 10th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.23%. The ex-dividend date is Thursday, May 9th. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.48. Parker-Hannifin’s dividend payout ratio is 30.73%.

Insider Activity

In other news, VP Jay Reidy sold 572 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $536.49, for a total transaction of $306,872.28. Following the completion of the sale, the vice president now owns 1,137 shares in the company, valued at approximately $609,989.13. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Jay Reidy sold 572 shares of the stock in a transaction on Friday, May 3rd. The stock was sold at an average price of $536.49, for a total value of $306,872.28. Following the completion of the sale, the vice president now owns 1,137 shares in the company, valued at $609,989.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Berend Bracht sold 1,079 shares of the stock in a transaction on Monday, May 6th. The shares were sold at an average price of $548.85, for a total value of $592,209.15. Following the completion of the sale, the vice president now owns 4,200 shares of the company’s stock, valued at approximately $2,305,170. The disclosure for this sale can be found here. Insiders own 1.03% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on PH. Stifel Nicolaus increased their price target on Parker-Hannifin from $588.00 to $629.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Mizuho increased their price target on Parker-Hannifin from $490.00 to $550.00 and gave the stock a “neutral” rating in a research report on Friday, May 3rd. Bank of America increased their price objective on Parker-Hannifin from $600.00 to $650.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Barclays decreased their price objective on Parker-Hannifin from $625.00 to $618.00 and set an “overweight” rating for the company in a report on Friday, May 3rd. Finally, KeyCorp increased their price objective on Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a report on Thursday, April 11th. Five investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus target price of $560.20.

Parker-Hannifin Profile

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.