Westfield Capital Management Co. LP Makes New $5.44 Million Investment in Parker-Hannifin Corporation $PH

Westfield Capital Management Co. LP acquired a new stake in Parker-Hannifin Corporation (NYSE:PH) during the third quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 7,172 shares of the industrial products company’s stock, valued at approximately $5,437,000.

Several other large investors also recently modified their holdings of PH. Procyon Advisors LLC lifted its holdings in Parker-Hannifin by 158,565.9% in the third quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock valued at $3,843,346,000 after buying an additional 5,066,179 shares during the period. Norges Bank bought a new position in shares of Parker-Hannifin in the 2nd quarter worth about $1,352,509,000. Canada Pension Plan Investment Board raised its position in shares of Parker-Hannifin by 115.7% in the 2nd quarter. Canada Pension Plan Investment Board now owns 367,904 shares of the industrial products company’s stock worth $256,970,000 after acquiring an additional 197,317 shares in the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main lifted its stake in shares of Parker-Hannifin by 9.1% in the 2nd quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,639,582 shares of the industrial products company’s stock valued at $1,145,199,000 after purchasing an additional 136,359 shares during the period. Finally, Lazard Freres Gestion S.A.S. bought a new stake in shares of Parker-Hannifin during the 3rd quarter valued at about $103,284,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the company. KeyCorp reiterated an “overweight” rating and issued a $1,100.00 target price on shares of Parker-Hannifin in a report on Friday, January 30th. Weiss Ratings reaffirmed a “buy (b)” rating on shares of Parker-Hannifin in a research report on Thursday, January 22nd. Wall Street Zen upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Wednesday, February 4th. Argus reissued a “buy” rating and set a $900.00 target price on shares of Parker-Hannifin in a research note on Monday, November 10th. Finally, Susquehanna restated a “positive” rating and issued a $1,000.00 price target on shares of Parker-Hannifin in a report on Wednesday, November 12th. Sixteen analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $995.37.

Parker-Hannifin Stock Performance

PH opened at $1,014.95 on Friday. Parker-Hannifin Corporation has a 1-year low of $488.45 and a 1-year high of $1,034.96. The company has a market cap of $128.10 billion, a price-to-earnings ratio of 37.01, a PEG ratio of 3.26 and a beta of 1.25. The company’s fifty day moving average price is $944.58 and its two-hundred day moving average price is $842.02. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, January 29th. The industrial products company reported $7.65 earnings per share (EPS) for the quarter, beating 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 period last year, the company earned $6.53 earnings per share. The business’s revenue was up 9.1% on a year-over-year basis. On average, analysts expect that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 6th will be paid a $1.80 dividend. The ex-dividend date of this dividend 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 26.26%.

Insider Transactions at Parker-Hannifin

In other news, VP Dinu J. Parel sold 1,316 shares of the firm’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 value of $1,250,265.80. Following the transaction, the vice president owned 6,534 shares in the company, valued at $6,207,626.70. This trade represents a 16.76% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Todd M. Leombruno sold 2,062 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $1,002.34, for a total value of $2,066,825.08. Following the transaction, the chief financial officer directly owned 20,610 shares in the company, valued at approximately $20,658,227.40. The trade was a 9.09% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 12,551 shares of company stock valued at $12,117,502. Corporate insiders own 0.32% of the company’s stock.

Parker-Hannifin Company 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.