AustralianSuper Pty Ltd Raises Stock Position in Parker-Hannifin Corporation (NYSE:PH)

AustralianSuper Pty Ltd lifted its stake in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 28.7% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 8,968 shares of the industrial products company's stock after acquiring an additional 2,001 shares during the quarter. AustralianSuper Pty Ltd's holdings in Parker-Hannifin were worth $5,451,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of PH. Vanguard Group Inc. increased its holdings in Parker-Hannifin by 1.0% during the fourth quarter. Vanguard Group Inc. now owns 10,854,774 shares of the industrial products company's stock valued at $6,903,962,000 after buying an additional 111,406 shares during the period. Geode Capital Management LLC increased its holdings in Parker-Hannifin by 3.9% during the fourth quarter. Geode Capital Management LLC now owns 2,677,092 shares of the industrial products company's stock valued at $1,699,580,000 after buying an additional 99,261 shares during the period. Invesco Ltd. increased its holdings in Parker-Hannifin by 8.6% during the fourth quarter. Invesco Ltd. now owns 2,502,728 shares of the industrial products company's stock valued at $1,591,810,000 after buying an additional 198,292 shares during the period. Royal Bank of Canada increased its holdings in Parker-Hannifin by 99.8% during the fourth quarter. Royal Bank of Canada now owns 2,277,001 shares of the industrial products company's stock valued at $1,448,241,000 after buying an additional 1,137,564 shares during the period. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its holdings in Parker-Hannifin by 9.3% during the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,016,091 shares of the industrial products company's stock valued at $1,282,294,000 after buying an additional 172,064 shares during the period. 82.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on PH shares. Argus set a $680.00 price target on shares of Parker-Hannifin in a report on Tuesday, May 6th. Barclays lifted their price objective on shares of Parker-Hannifin from $700.00 to $750.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 9th. Wells Fargo & Company lifted their price objective on shares of Parker-Hannifin from $670.00 to $770.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Evercore ISI lifted their price objective on shares of Parker-Hannifin from $824.00 to $827.00 and gave the stock an "outperform" rating in a research note on Monday, May 19th. Finally, Stifel Nicolaus lifted their price objective on shares of Parker-Hannifin from $670.00 to $709.00 and gave the stock a "hold" rating in a research note on Friday, July 11th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Parker-Hannifin presently has a consensus rating of "Moderate Buy" and a consensus target price of $739.12.

Insider Activity at Parker-Hannifin

In other news, VP Jay Reidy sold 150 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $620.37, for a total value of $93,055.50. Following the transaction, the vice president directly owned 2,083 shares in the company, valued at approximately $1,292,230.71. This represents a 6.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 0.39% of the company's stock.

Parker-Hannifin Stock Performance

PH opened at $722.53 on Friday. The firm has a market capitalization of $92.32 billion, a PE ratio of 27.82, a PEG ratio of 3.11 and a beta of 1.34. Parker-Hannifin Corporation has a twelve month low of $488.45 and a twelve month high of $727.30. The firm's 50-day moving average price is $680.98 and its 200 day moving average price is $648.59. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 0.55.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share for the quarter, beating the consensus estimate of $6.72 by $0.22. The company had revenue of $4.96 billion for the quarter, compared to analyst estimates of $4.99 billion. Parker-Hannifin had a net margin of 17.14% and a return on equity of 26.80%. Parker-Hannifin's revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the business posted $6.51 EPS. As a group, sell-side analysts expect that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 9th were issued a $1.80 dividend. This is a positive change from Parker-Hannifin's previous quarterly dividend of $1.63. This represents a $7.20 annualized dividend and a dividend yield of 1.00%. The ex-dividend date was Friday, May 9th. Parker-Hannifin's dividend payout ratio is currently 27.72%.

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.

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