Artemis Investment Management LLP Makes New Investment in Parker-Hannifin Co. (NYSE:PH)

Artemis Investment Management LLP acquired a new stake in shares of Parker-Hannifin Co. (NYSE:PH) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 85,591 shares of the industrial products company’s stock, valued at approximately $54,078,000. Artemis Investment Management LLP owned approximately 0.07% of Parker-Hannifin at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PH. Vanguard Group Inc. increased its holdings in Parker-Hannifin by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 10,566,391 shares of the industrial products company’s stock worth $5,872,694,000 after purchasing an additional 105,475 shares in the last quarter. Boston Partners raised its holdings in Parker-Hannifin by 4.1% in the 1st quarter. Boston Partners now owns 1,111,720 shares of the industrial products company’s stock valued at $617,878,000 after buying an additional 43,535 shares during the last quarter. Legal & General Group Plc boosted its position in Parker-Hannifin by 1.3% during the 2nd quarter. Legal & General Group Plc now owns 985,280 shares of the industrial products company’s stock worth $498,366,000 after buying an additional 12,615 shares during the period. AMF Tjanstepension AB increased its position in Parker-Hannifin by 23.0% in the 2nd quarter. AMF Tjanstepension AB now owns 758,262 shares of the industrial products company’s stock valued at $383,594,000 after acquiring an additional 141,862 shares during the period. Finally, Bank of Montreal Can raised its stake in shares of Parker-Hannifin by 11.6% during the second quarter. Bank of Montreal Can now owns 735,755 shares of the industrial products company’s stock valued at $378,572,000 after acquiring an additional 76,629 shares during the last quarter. Institutional investors own 82.44% of the company’s stock.

Insider Activity

In related news, Director Joseph Scaminace sold 1,751 shares of Parker-Hannifin stock in a transaction that occurred on 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 owns 3,900 shares of the company’s stock, valued at approximately $2,299,947. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, VP Berend Bracht sold 850 shares of the firm’s stock in a transaction that occurred 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 directly owns 3,350 shares of the company’s stock, valued at approximately $1,986,282. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph Scaminace sold 1,751 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $589.73, for a total value of $1,032,617.23. Following the sale, the director now owns 3,900 shares in the company, valued at approximately $2,299,947. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on PH shares. Barclays increased their price objective on Parker-Hannifin from $650.00 to $703.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Raymond James raised their price target on shares of Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Wells Fargo & Company increased their price objective on shares of Parker-Hannifin from $640.00 to $710.00 and gave the stock an “overweight” rating in a research report on Monday. Deutsche Bank Aktiengesellschaft increased their price target on Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, Evercore ISI lifted their target price on Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and a consensus target price of $641.64.

Parker-Hannifin Stock Down 0.4 %

PH stock opened at $627.34 on Wednesday. The firm has a market capitalization of $80.64 billion, a PE ratio of 29.56, a P/E/G ratio of 2.55 and a beta of 1.43. 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 $639.87. The stock’s 50 day moving average is $588.55 and its 200-day moving average is $554.70.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, August 8th. The industrial products company reported $6.77 earnings per share for the quarter, beating analysts’ consensus estimates of $6.22 by $0.55. The company had revenue of $5.19 billion for the quarter, compared to analyst estimates of $5.08 billion. Parker-Hannifin had a net margin of 14.27% and a return on equity of 29.08%. The firm’s revenue was up 1.8% on a year-over-year basis. During the same period last year, the firm earned $6.08 earnings per share. Sell-side analysts expect that Parker-Hannifin Co. will post 26.64 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

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

About Parker-Hannifin

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.