Parker-Hannifin Corporation $PH Shares Sold by Sentry Investment Management LLC

Sentry Investment Management LLC trimmed its position in Parker-Hannifin Corporation (NYSE:PH) by 57.2% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 386 shares of the industrial products company’s stock after selling 515 shares during the period. Sentry Investment Management LLC’s holdings in Parker-Hannifin were worth $291,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in Parker-Hannifin by 0.9% in the second quarter. Vanguard Group Inc. now owns 11,125,240 shares of the industrial products company’s stock valued at $7,770,646,000 after buying an additional 101,476 shares during the last quarter. Procyon Advisors LLC lifted its stake in Parker-Hannifin by 158,565.9% during the 3rd quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock valued at $3,843,346,000 after acquiring an additional 5,066,179 shares during the period. Invesco Ltd. boosted its holdings in shares of Parker-Hannifin by 1.8% in the 2nd quarter. Invesco Ltd. now owns 2,345,922 shares of the industrial products company’s stock valued at $1,638,556,000 after acquiring an additional 41,221 shares during the last quarter. Ameriprise Financial Inc. increased its stake in shares of Parker-Hannifin by 4.4% in the second quarter. Ameriprise Financial Inc. now owns 2,194,687 shares of the industrial products company’s stock worth $1,533,177,000 after acquiring an additional 92,913 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Parker-Hannifin by 0.7% in the second quarter. JPMorgan Chase & Co. now owns 2,075,234 shares of the industrial products company’s stock worth $1,449,496,000 after acquiring an additional 14,534 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the stock. Barclays upped their price target on shares of Parker-Hannifin from $990.00 to $1,020.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Wells Fargo & Company boosted their price objective on Parker-Hannifin from $1,000.00 to $1,050.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Susquehanna reaffirmed a “positive” rating and set a $1,000.00 target price on shares of Parker-Hannifin in a report on Wednesday, November 12th. Industrial Alliance Securities set a $1,032.00 price target on Parker-Hannifin in a report on Thursday, January 29th. Finally, BNP Paribas Exane started coverage on Parker-Hannifin in a report on Thursday, December 4th. They issued an “outperform” rating and a $1,020.00 price target for the company. Seventeen equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $990.47.

Insiders Place Their Bets

In related news, VP Dinu J. Parel sold 1,316 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $950.05, for a total transaction of $1,250,265.80. Following the completion of the sale, the vice president directly owned 6,534 shares in the company, valued at approximately $6,207,626.70. The trade was a 16.76% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Matthew A. Jacobson sold 564 shares of Parker-Hannifin stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $949.94, for a total transaction of $535,766.16. Following the sale, the vice president directly owned 1,000 shares in the company, valued at approximately $949,940. This trade represents a 36.06% decrease in their position. The SEC filing for this sale provides additional information. Over the last 90 days, insiders have sold 10,769 shares of company stock valued at $9,649,169. 0.32% of the stock is owned by corporate insiders.

Parker-Hannifin Trading Up 1.2%

Shares of NYSE:PH opened at $978.96 on Friday. The firm has a market capitalization of $123.56 billion, a price-to-earnings ratio of 35.70, a price-to-earnings-growth ratio of 3.30 and a beta of 1.25. The business’s 50 day moving average price is $906.08 and its 200-day moving average price is $813.12. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 0.66. Parker-Hannifin Corporation has a 1 year low of $488.45 and a 1 year high of $979.44.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $7.11 by $0.54. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. The business had revenue of $5.17 billion for the quarter, compared to analyst estimates of $5.07 billion. During the same quarter last year, the business earned $6.53 earnings per share. The company’s revenue for the quarter was up 9.1% compared to the same quarter last year. On average, equities research analysts forecast that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 6th will be given a $1.80 dividend. This represents a $7.20 annualized dividend and a dividend yield of 0.7%. The ex-dividend date is Friday, February 6th. Parker-Hannifin’s dividend payout ratio (DPR) is 26.26%.

About Parker-Hannifin

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.