UniSuper Management Pty Ltd Has $1.91 Million Stake in Parker-Hannifin Co. (NYSE:PH)

UniSuper Management Pty Ltd grew its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 198.7% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,441 shares of the industrial products company’s stock after acquiring an additional 2,289 shares during the quarter. UniSuper Management Pty Ltd’s holdings in Parker-Hannifin were worth $1,912,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of PH. Sachetta LLC acquired a new position in shares of Parker-Hannifin in the fourth quarter valued at approximately $25,000. Wetzel Investment Advisors Inc. acquired a new position in shares of Parker-Hannifin in the fourth quarter valued at approximately $26,000. First United Bank & Trust acquired a new position in shares of Parker-Hannifin in the fourth quarter valued at approximately $29,000. Harbor Investment Advisory LLC increased its position in Parker-Hannifin by 60.6% during the 1st quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 20 shares during the period. Finally, Newbridge Financial Services Group Inc. acquired a new stake in Parker-Hannifin during the 4th quarter valued at approximately $30,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock traded down $22.44 during trading hours on Wednesday, hitting $529.22. 1,113,795 shares of the company’s stock traded hands, compared to its average volume of 661,022. Parker-Hannifin Co. has a 12-month low of $362.49 and a 12-month high of $570.15. The stock has a market capitalization of $68.03 billion, a price-to-earnings ratio of 24.94, a PEG ratio of 2.11 and a beta of 1.44. The company has a fifty day simple moving average of $524.84 and a 200-day simple moving average of $525.01. The company has a debt-to-equity ratio of 0.63, a current ratio of 0.87 and a quick ratio of 0.50.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, May 2nd. The industrial products company reported $6.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.10 by $0.41. Parker-Hannifin had a return on equity of 29.40% and a net margin of 13.95%. The firm had revenue of $5.07 billion during the quarter, compared to analyst estimates of $5.07 billion. During the same period last year, the firm posted $5.93 EPS. The business’s revenue was up .3% compared to the same quarter last year. Equities research analysts anticipate that Parker-Hannifin Co. will post 24.85 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 7th. Investors of record on Friday, May 10th were issued a $1.63 dividend. The ex-dividend date was Thursday, May 9th. This represents a $6.52 annualized dividend and a yield of 1.23%. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $1.48. Parker-Hannifin’s dividend payout ratio (DPR) is 30.73%.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on PH. Argus increased their target price on shares of Parker-Hannifin from $550.00 to $590.00 and gave the company a “buy” rating in a research report on Monday, May 6th. KeyCorp increased their target price on shares of Parker-Hannifin from $575.00 to $640.00 and gave the company an “overweight” rating in a research report on Thursday, April 11th. Raymond James began coverage on shares of Parker-Hannifin in a research report on Friday, June 28th. They set an “outperform” rating and a $610.00 target price for the company. Mizuho raised shares of Parker-Hannifin from a “neutral” rating to a “buy” rating and increased their target price for the company from $550.00 to $650.00 in a research report on Tuesday, May 28th. Finally, Stifel Nicolaus decreased their target price on shares of Parker-Hannifin from $629.00 to $613.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $576.27.

Insider Buying and Selling

In other Parker-Hannifin news, VP Jay Reidy sold 572 shares of the firm’s stock in a transaction dated Friday, May 3rd. The stock was sold at an average price of $536.49, for a total value of $306,872.28. Following the completion of the transaction, the vice president now owns 1,137 shares in the company, valued at approximately $609,989.13. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, VP Berend Bracht sold 1,079 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $548.85, for a total value of $592,209.15. Following the completion of the sale, the vice president now owns 4,200 shares in the company, valued at approximately $2,305,170. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Jay Reidy sold 572 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The stock was sold at an average price of $536.49, for a total value of $306,872.28. Following the completion of the sale, the vice president now owns 1,137 shares of the company’s stock, valued at approximately $609,989.13. The disclosure for this sale can be found here. 1.03% of the stock is currently owned by insiders.

Parker-Hannifin Company 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.