Varma Mutual Pension Insurance Co Has $22.01 Million Stock Position in Parker-Hannifin Corporation $PH

Varma Mutual Pension Insurance Co raised its holdings in Parker-Hannifin Corporation (NYSE:PH) by 16.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 29,037 shares of the industrial products company’s stock after acquiring an additional 4,200 shares during the period. Varma Mutual Pension Insurance Co’s holdings in Parker-Hannifin were worth $22,014,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Fidelis Capital Partners LLC grew its holdings in shares of Parker-Hannifin by 1.3% during the 2nd quarter. Fidelis Capital Partners LLC now owns 1,071 shares of the industrial products company’s stock valued at $747,000 after purchasing an additional 14 shares during the last quarter. High Net Worth Advisory Group LLC boosted its position in Parker-Hannifin by 0.3% in the third quarter. High Net Worth Advisory Group LLC now owns 4,694 shares of the industrial products company’s stock valued at $3,559,000 after buying an additional 14 shares in the last quarter. Meadow Creek Wealth Advisors LLC grew its stake in shares of Parker-Hannifin by 3.6% during the second quarter. Meadow Creek Wealth Advisors LLC now owns 430 shares of the industrial products company’s stock worth $300,000 after buying an additional 15 shares during the last quarter. Valeo Financial Advisors LLC increased its holdings in shares of Parker-Hannifin by 0.8% during the second quarter. Valeo Financial Advisors LLC now owns 1,833 shares of the industrial products company’s stock worth $1,280,000 after buying an additional 15 shares in the last quarter. Finally, Sivia Capital Partners LLC lifted its stake in shares of Parker-Hannifin by 3.6% in the 2nd quarter. Sivia Capital Partners LLC now owns 430 shares of the industrial products company’s stock valued at $300,000 after acquiring an additional 15 shares during the last quarter. Institutional investors own 82.44% of the company’s stock.

Insiders Place Their Bets

In related news, VP Berend Bracht sold 1,457 shares of the business’s stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $946.48, for a total transaction of $1,379,021.36. Following the transaction, the vice president owned 2,580 shares in the company, valued at $2,441,918.40. The trade was a 36.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Andrew D. Ross sold 2,488 shares of the firm’s stock in a transaction on Thursday, December 11th. The stock was sold at an average price of $894.81, for a total transaction of $2,226,287.28. Following the completion of the sale, the chief operating officer owned 13,120 shares of the company’s stock, valued at $11,739,907.20. The trade was a 15.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 5,825 shares of company stock valued at $5,391,341. Company insiders own 0.32% of the company’s stock.

Parker-Hannifin Stock Up 0.5%

Parker-Hannifin stock opened at $996.34 on Thursday. The firm has a market cap of $125.76 billion, a price-to-earnings ratio of 36.34, a PEG ratio of 3.20 and a beta of 1.25. Parker-Hannifin Corporation has a 52-week low of $488.45 and a 52-week high of $1,012.49. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 1.18. The firm has a 50 day moving average price of $916.02 and a two-hundred day moving average price of $820.99.

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

Parker-Hannifin Dividend Announcement

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

Wall Street Analyst Weigh In

Several research firms recently weighed in on PH. Mizuho raised their price objective on Parker-Hannifin from $800.00 to $825.00 and gave the company an “outperform” rating in a report on Friday, October 17th. Susquehanna reiterated a “positive” rating and issued a $1,000.00 target price on shares of Parker-Hannifin in a research report on Wednesday, November 12th. Weiss Ratings restated a “buy (b)” rating on shares of Parker-Hannifin in a report on Thursday, January 22nd. KeyCorp reiterated an “overweight” rating and issued a $1,100.00 price objective on shares of Parker-Hannifin in a report on Friday, January 30th. Finally, Barclays lifted their target price on shares of Parker-Hannifin from $990.00 to $1,020.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Seventeen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $990.47.

Parker-Hannifin Profile

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.