Smith Asset Management Group LP Increases Stake in Parker-Hannifin Corp (PH)

Smith Asset Management Group LP grew its position in Parker-Hannifin Corp (NYSE:PH) by 1.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 157,317 shares of the industrial products company’s stock after purchasing an additional 2,229 shares during the period. Smith Asset Management Group LP’s holdings in Parker-Hannifin were worth $31,434,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in the company. Jennison Associates LLC increased its holdings in shares of Parker-Hannifin by 10.2% in the fourth quarter. Jennison Associates LLC now owns 5,650,607 shares of the industrial products company’s stock valued at $1,127,748,000 after purchasing an additional 522,942 shares during the period. Longview Partners Guernsey LTD increased its holdings in shares of Parker-Hannifin by 0.4% in the fourth quarter. Longview Partners Guernsey LTD now owns 5,437,440 shares of the industrial products company’s stock valued at $1,085,204,000 after purchasing an additional 23,982 shares during the period. Bank of New York Mellon Corp grew its holdings in Parker-Hannifin by 0.9% during the fourth quarter. Bank of New York Mellon Corp now owns 970,656 shares of the industrial products company’s stock worth $193,723,000 after acquiring an additional 8,357 shares during the period. Victory Capital Management Inc. grew its holdings in Parker-Hannifin by 3.0% during the fourth quarter. Victory Capital Management Inc. now owns 941,019 shares of the industrial products company’s stock worth $187,809,000 after acquiring an additional 26,975 shares during the period. Finally, UBS Asset Management Americas Inc. grew its holdings in Parker-Hannifin by 84.3% during the fourth quarter. UBS Asset Management Americas Inc. now owns 784,317 shares of the industrial products company’s stock worth $156,534,000 after acquiring an additional 358,656 shares during the period. 78.42% of the stock is currently owned by institutional investors and hedge funds.

In related news, VP Andrew D. Ross sold 2,056 shares of Parker-Hannifin stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $192.14, for a total transaction of $395,039.84. Following the transaction, the vice president now owns 5,207 shares in the company, valued at $1,000,472.98. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Joseph Scaminace sold 1,000 shares of Parker-Hannifin stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $184.97, for a total value of $184,970.00. The disclosure for this sale can be found here. Company insiders own 1.12% of the company’s stock.

Several analysts recently commented on PH shares. Credit Suisse Group raised their target price on Parker-Hannifin from $205.00 to $206.00 and gave the stock an “outperform” rating in a report on Friday, November 3rd. Citigroup raised their target price on Parker-Hannifin from $185.00 to $195.00 and gave the stock a “neutral” rating in a report on Friday, November 3rd. Zacks Investment Research raised Parker-Hannifin from a “hold” rating to a “buy” rating and set a $236.00 target price on the stock in a report on Thursday, January 18th. BMO Capital Markets raised their target price on Parker-Hannifin to $225.00 and gave the stock an “outperform” rating in a report on Thursday, January 4th. Finally, ValuEngine lowered Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Friday, December 1st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company’s stock. Parker-Hannifin currently has a consensus rating of “Hold” and a consensus price target of $202.06.

Parker-Hannifin Corp (PH) opened at $183.92 on Friday. Parker-Hannifin Corp has a 1 year low of $151.17 and a 1 year high of $212.80. The company has a market capitalization of $24,121.69, a P/E ratio of 28.69, a P/E/G ratio of 1.57 and a beta of 1.31. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.99 and a current ratio of 1.49.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.15 EPS for the quarter, topping the Zacks’ consensus estimate of $2.07 by $0.08. Parker-Hannifin had a return on equity of 23.15% and a net margin of 6.54%. The firm had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter last year, the business posted $1.91 earnings per share. The firm’s revenue was up 26.2% compared to the same quarter last year. analysts forecast that Parker-Hannifin Corp will post 9.95 EPS for the current year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Friday, February 9th will be given a dividend of $0.66 per share. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $2.64 dividend on an annualized basis and a yield of 1.44%. Parker-Hannifin’s payout ratio is 41.19%.

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Parker-Hannifin Profile

Parker-Hannifin Corporation is a manufacturer of motion and control technologies and systems, providing precision engineered solutions for a range of mobile, industrial and aerospace markets. The Company operates through segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial Segment is an aggregation of several business units, which manufacture motion-control and fluid power system components for builders and users of various types of manufacturing, packaging, processing, transportation, agricultural, construction, and military vehicles and equipment.

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

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