Strategic Investment Advisors MI Trims Stock Position in Parker-Hannifin Co. (NYSE:PH)


Share on StockTwits

Strategic Investment Advisors MI cut its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 11.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,340 shares of the industrial products company’s stock after selling 170 shares during the quarter. Strategic Investment Advisors MI’s holdings in Parker-Hannifin were worth $365,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently made changes to their positions in the business. IFM Investors Pty Ltd lifted its position in Parker-Hannifin by 17.3% during the fourth quarter. IFM Investors Pty Ltd now owns 12,418 shares of the industrial products company’s stock valued at $3,383,000 after purchasing an additional 1,831 shares during the last quarter. Redpoint Investment Management Pty Ltd lifted its holdings in shares of Parker-Hannifin by 5.3% in the 4th quarter. Redpoint Investment Management Pty Ltd now owns 4,306 shares of the industrial products company’s stock worth $1,173,000 after acquiring an additional 215 shares during the last quarter. Global Retirement Partners LLC lifted its holdings in shares of Parker-Hannifin by 71.8% in the 4th quarter. Global Retirement Partners LLC now owns 122 shares of the industrial products company’s stock worth $33,000 after acquiring an additional 51 shares during the last quarter. Sowell Financial Services LLC lifted its holdings in shares of Parker-Hannifin by 400.0% in the 4th quarter. Sowell Financial Services LLC now owns 105 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 84 shares during the last quarter. Finally, Arlington Partners LLC bought a new stake in shares of Parker-Hannifin in the 4th quarter worth approximately $27,000. Institutional investors and hedge funds own 77.89% of the company’s stock.

Shares of Parker-Hannifin stock opened at $286.22 on Thursday. The stock has a market cap of $36.87 billion, a price-to-earnings ratio of 30.88, a PEG ratio of 1.76 and a beta of 1.65. The firm’s 50-day moving average is $273.70 and its 200 day moving average is $224.41. Parker-Hannifin Co. has a 1 year low of $93.00 and a 1 year high of $290.21. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.55 and a quick ratio of 0.98.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, November 5th. The industrial products company reported $3.07 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.29 by $0.78. Parker-Hannifin had a return on equity of 22.54% and a net margin of 8.81%. The business had revenue of $3.23 billion for the quarter, compared to analyst estimates of $2.98 billion. During the same quarter in the previous year, the firm earned $2.76 earnings per share. The company’s revenue was down 3.1% on a year-over-year basis. On average, equities analysts expect that Parker-Hannifin Co. will post 10.7 EPS for the current fiscal year.

In related news, CEO Thomas L. Williams sold 7,357 shares of the business’s stock in a transaction that occurred on Friday, November 6th. The stock was sold at an average price of $237.23, for a total transaction of $1,745,301.11. Following the completion of the sale, the chief executive officer now directly owns 192,158 shares in the company, valued at $45,585,642.34. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Candy M. Obourn sold 1,166 shares of the business’s stock in a transaction that occurred on Thursday, November 12th. The stock was sold at an average price of $257.01, for a total value of $299,673.66. Over the last ninety days, insiders have sold 37,173 shares of company stock valued at $9,161,621. Corporate insiders own 1.47% of the company’s stock.

PH has been the subject of a number of recent research reports. BidaskClub lowered shares of Parker-Hannifin from a “strong-buy” rating to a “buy” rating in a report on Tuesday, December 22nd. Morgan Stanley boosted their price objective on shares of Parker-Hannifin from $280.00 to $300.00 and gave the stock an “overweight” rating in a report on Monday, November 23rd. Barclays upped their price target on shares of Parker-Hannifin from $256.00 to $303.00 and gave the company an “overweight” rating in a report on Monday, November 30th. Citigroup upped their price target on shares of Parker-Hannifin from $200.00 to $225.00 and gave the company a “buy” rating in a report on Wednesday, October 7th. Finally, Deutsche Bank Aktiengesellschaft upped their price target on shares of Parker-Hannifin from $240.00 to $277.00 and gave the company a “buy” rating in a report on Friday, November 6th. One equities research analyst has rated the stock with a hold rating and fourteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $234.21.

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 monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; control solutions for extreme corrosion resistance, temperatures, pressures, and precise flow; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.

Featured Article: What are the Benefits of Index Funds?

Want to see what other hedge funds are holding PH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Parker-Hannifin Co. (NYSE:PH).

Institutional Ownership by Quarter for Parker-Hannifin (NYSE:PH)

Receive News & Ratings for Parker-Hannifin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parker-Hannifin and related companies with MarketBeat.com's FREE daily email newsletter.