Burney Co. Raises Stake in Parker-Hannifin Corporation $PH

Key Points

• Burney Co. increased its stake in Parker‑Hannifin by 8.6% in Q4 to 53,207 shares (worth $46.77M), making PH 1.5% of Burney's portfolio and its 11th largest holding.
• Parker‑Hannifin beat Q4 expectations, reporting $7.65 EPS versus a $7.11 consensus and 9.1% revenue growth, with a $124.2B market cap and a 52‑week range of $538.08–$1,034.96.
• Analyst sentiment is broadly positive: 17 Buy ratings versus 4 Holds and an average target of $998.35, with several firms raising targets toward $1,020–$1,100, though insiders have sold about 10,063 shares in the past 90 days and institutional ownership is ~82%.

Burney Co. boosted its holdings in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 8.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 53,207 shares of the industrial products company's stock after purchasing an additional 4,232 shares during the period. Parker-Hannifin makes up 1.5% of Burney Co.'s investment portfolio, making the stock its 11th largest holding. Burney Co.'s holdings in Parker-Hannifin were worth $46,767,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of PH. Texas Capital Bancshares Inc TX purchased a new position in Parker-Hannifin during the 3rd quarter worth $25,000. Chilton Capital Management LLC purchased a new position in Parker-Hannifin during the 3rd quarter worth $29,000. Ameriflex Group Inc. grew its position in Parker-Hannifin by 366.7% during the 3rd quarter. Ameriflex Group Inc. now owns 42 shares of the industrial products company's stock worth $32,000 after purchasing an additional 33 shares during the last quarter. Morse Asset Management Inc grew its position in Parker-Hannifin by 164.7% during the 3rd quarter. Morse Asset Management Inc now owns 45 shares of the industrial products company's stock worth $34,000 after purchasing an additional 28 shares during the last quarter. Finally, Valley Wealth Managers Inc. purchased a new position in Parker-Hannifin during the 3rd quarter worth $36,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PH. Barclays raised their price objective on shares of Parker-Hannifin from $990.00 to $1,020.00 and gave the stock an "overweight" rating in a research report on Friday, January 30th. JPMorgan Chase & Co. raised their price objective on shares of Parker-Hannifin from $1,083.00 to $1,100.00 and gave the stock an "overweight" rating in a research report on Friday, January 30th. Wells Fargo & Company reduced their target price on shares of Parker-Hannifin from $1,050.00 to $980.00 and set an "overweight" rating for the company in a research note on Wednesday, April 1st. Wall Street Zen upgraded shares of Parker-Hannifin from a "hold" rating to a "buy" rating in a research note on Wednesday, February 4th. Finally, KeyCorp restated an "overweight" rating and issued a $1,100.00 target price on shares of Parker-Hannifin in a research note on Friday, January 30th. Seventeen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $998.35.

Parker-Hannifin Stock Up 0.1%

Shares of NYSE PH opened at $983.95 on Friday. The company has a quick ratio of 0.66, a current ratio of 1.18 and a debt-to-equity ratio of 0.52. Parker-Hannifin Corporation has a 52 week low of $538.08 and a 52 week high of $1,034.96. The firm has a 50-day moving average price of $953.02 and a 200 day moving average price of $880.56. The stock has a market capitalization of $124.19 billion, a price-to-earnings ratio of 35.88, a price-to-earnings-growth ratio of 3.17 and a beta of 1.25.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share for the quarter, beating the consensus estimate of $7.11 by $0.54. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. During the same quarter in the prior year, the company posted $6.53 earnings per share. Parker-Hannifin's revenue was up 9.1% on a year-over-year basis. Equities research analysts anticipate that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, March 6th. Investors of record on Friday, February 6th were given a dividend of $1.80 per share. The ex-dividend date was Friday, February 6th. This represents a $7.20 dividend on an annualized basis and a yield of 0.7%. Parker-Hannifin's dividend payout ratio (DPR) is 26.26%.

Insider Activity

In related news, CFO Todd M. Leombruno sold 2,062 shares of the firm's stock in a transaction that occurred on Wednesday, February 11th. The shares were sold at an average price of $1,002.34, for a total transaction of $2,066,825.08. Following the sale, the chief financial officer owned 20,610 shares in the company, valued at approximately $20,658,227.40. This trade represents a 9.09% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Berend Bracht sold 1,457 shares of the firm's stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $946.48, for a total transaction of $1,379,021.36. Following the completion of the sale, the vice president directly owned 2,580 shares in the company, valued at $2,441,918.40. This represents a 36.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 10,063 shares of company stock valued at $9,891,214 in the last 90 days. Insiders own 0.32% of the company's stock.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation NYSE: PH is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin's product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.

Want to see what other hedge funds are holding PH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Parker-Hannifin Corporation (NYSE:PH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.