ProShare Advisors LLC Grows Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

ProShare Advisors LLC grew its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 7.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 20,137 shares of the industrial products company’s stock after acquiring an additional 1,323 shares during the period. ProShare Advisors LLC’s holdings in Parker-Hannifin were worth $10,185,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. TD Asset Management Inc grew its holdings in shares of Parker-Hannifin by 152.1% during the first quarter. TD Asset Management Inc now owns 132,231 shares of the industrial products company’s stock worth $73,493,000 after purchasing an additional 79,774 shares in the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Parker-Hannifin by 8.5% in the 1st quarter. Daiwa Securities Group Inc. now owns 22,960 shares of the industrial products company’s stock worth $12,761,000 after buying an additional 1,802 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Parker-Hannifin during the 4th quarter valued at $4,068,000. Concurrent Investment Advisors LLC lifted its holdings in shares of Parker-Hannifin by 261.4% during the 1st quarter. Concurrent Investment Advisors LLC now owns 2,515 shares of the industrial products company’s stock worth $1,397,000 after acquiring an additional 1,819 shares during the last quarter. Finally, Lockheed Martin Investment Management Co. grew its position in Parker-Hannifin by 18.1% in the fourth quarter. Lockheed Martin Investment Management Co. now owns 56,070 shares of the industrial products company’s stock worth $25,831,000 after acquiring an additional 8,600 shares in the last quarter. 82.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of research firms recently weighed in on PH. Evercore ISI boosted their target price on Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. StockNews.com cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Tuesday. Wells Fargo & Company upped their price target on shares of Parker-Hannifin from $600.00 to $640.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Raymond James lifted their price objective on Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Finally, Barclays dropped their price objective on Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating for the company in a research note on Tuesday, June 4th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and a consensus target price of $624.43.

Parker-Hannifin Stock Up 1.1 %

Shares of Parker-Hannifin stock opened at $625.43 on Wednesday. The company has a quick ratio of 0.55, a current ratio of 0.93 and a debt-to-equity ratio of 0.59. Parker-Hannifin Co. has a twelve month low of $362.49 and a twelve month high of $627.59. The company has a market cap of $80.39 billion, a price-to-earnings ratio of 29.47, a price-to-earnings-growth ratio of 2.42 and a beta of 1.43. The company’s 50 day moving average is $573.84 and its 200 day moving average is $549.07.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, August 8th. The industrial products company reported $6.77 EPS for the quarter, topping the consensus estimate of $6.22 by $0.55. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. The company had revenue of $5.19 billion during the quarter, compared to analyst estimates of $5.08 billion. During the same quarter in the previous year, the company posted $6.08 earnings per share. Parker-Hannifin’s revenue was up 1.8% compared to the same quarter last year. Research analysts anticipate that Parker-Hannifin Co. will post 26.63 EPS for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Wednesday, August 28th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend was Wednesday, August 28th. Parker-Hannifin’s payout ratio is 30.73%.

Insider Activity at Parker-Hannifin

In other news, Director Joseph Scaminace sold 1,751 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the completion of the sale, the director now owns 3,900 shares of the company’s stock, valued at approximately $2,299,947. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, VP Berend Bracht sold 850 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $592.92, for a total value of $503,982.00. Following the completion of the transaction, the vice president now owns 3,350 shares of the company’s stock, valued at approximately $1,986,282. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph Scaminace sold 1,751 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $589.73, for a total value of $1,032,617.23. Following the sale, the director now directly owns 3,900 shares in the company, valued at $2,299,947. The disclosure for this sale can be found here. 1.03% of the stock is currently owned by company insiders.

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 ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.