PNC Financial Services Group Inc. Buys 50,875 Shares of Parker-Hannifin Corporation $PH

PNC Financial Services Group Inc. lifted its stake in Parker-Hannifin Corporation (NYSE:PH) by 18.0% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 332,811 shares of the industrial products company’s stock after acquiring an additional 50,875 shares during the period. PNC Financial Services Group Inc. owned 0.26% of Parker-Hannifin worth $252,321,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in PH. Brighton Jones LLC grew its stake in Parker-Hannifin by 5.9% in the 4th quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company’s stock valued at $1,150,000 after buying an additional 101 shares during the last quarter. Bison Wealth LLC grew its position in shares of Parker-Hannifin by 4.5% in the fourth quarter. Bison Wealth LLC now owns 749 shares of the industrial products company’s stock valued at $476,000 after purchasing an additional 32 shares during the last quarter. Empowered Funds LLC increased its stake in shares of Parker-Hannifin by 0.5% in the first quarter. Empowered Funds LLC now owns 2,894 shares of the industrial products company’s stock worth $1,759,000 after purchasing an additional 15 shares during the period. Acadian Asset Management LLC lifted its position in shares of Parker-Hannifin by 26.2% during the 1st quarter. Acadian Asset Management LLC now owns 799 shares of the industrial products company’s stock worth $484,000 after purchasing an additional 166 shares during the last quarter. Finally, Sivia Capital Partners LLC boosted its stake in Parker-Hannifin by 3.6% during the 2nd quarter. Sivia Capital Partners LLC now owns 430 shares of the industrial products company’s stock valued at $300,000 after purchasing an additional 15 shares during the period. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

NYSE PH opened at $1,001.30 on Friday. Parker-Hannifin Corporation has a twelve month low of $488.45 and a twelve month high of $1,012.49. The company has a quick ratio of 0.66, a current ratio of 1.18 and a debt-to-equity ratio of 0.52. The stock has a market cap of $126.38 billion, a P/E ratio of 36.52, a PEG ratio of 3.23 and a beta of 1.25. The company’s 50-day simple moving average is $920.62 and its 200 day simple moving average is $824.55.

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

Parker-Hannifin Dividend Announcement

The company 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 dividend on an annualized basis and a dividend yield of 0.7%. Parker-Hannifin’s dividend payout ratio (DPR) is 26.26%.

Insider Activity

In other news, VP Berend Bracht sold 1,457 shares of the business’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $946.48, for a total value of $1,379,021.36. Following the transaction, the vice president directly owned 2,580 shares of the company’s stock, valued at $2,441,918.40. The trade was a 36.09% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Andrew D. Ross sold 4,664 shares of the firm’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $999.00, for a total value of $4,659,336.00. Following the sale, the chief operating officer directly owned 13,120 shares of the company’s stock, valued at $13,106,880. This represents a 26.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 12,551 shares of company stock worth $12,117,502 over the last ninety days. Corporate insiders own 0.32% of the company’s stock.

Analyst Upgrades and Downgrades

PH has been the topic of several recent analyst reports. BNP Paribas Exane started coverage on Parker-Hannifin in a research report on Thursday, December 4th. They issued an “outperform” rating and a $1,020.00 price target on the stock. Wells Fargo & Company boosted their target price on shares of Parker-Hannifin from $1,000.00 to $1,050.00 and gave the stock an “overweight” rating in a research report on Friday, January 30th. Barclays upped their target price on shares of Parker-Hannifin from $990.00 to $1,020.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. Wall Street Zen upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Wednesday, February 4th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of Parker-Hannifin in a research note on Thursday, January 22nd. Seventeen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and a consensus price target of $990.47.

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.