Diversified Management Inc. Makes New $1.43 Million Investment in Parker-Hannifin Corporation $PH

Key Points

• Diversified Management Inc. opened a new Q4 position in Parker‑Hannifin, buying 1,632 shares worth about $1.43 million; overall, institutional investors own roughly 82.44% of the stock.
• Parker‑Hannifin beat Q earnings expectations with $7.65 EPS vs. $7.11 consensus and revenue up 9.1% year‑over‑year, and analysts are broadly bullish (17 Buys, 4 Holds) with a consensus target of about $1,000.60.
• Insiders have been net sellers recently (COO sold 4,664 shares; CFO sold 2,062; ~10,063 shares sold in the last three months worth ~$9.89M), while the company pays a quarterly dividend of $1.80 (annualized $7.20, yield 0.7%).

Diversified Management Inc. bought a new position in Parker-Hannifin Corporation (NYSE:PH - Free Report) in the 4th quarter, according to its most recent filing with the SEC. The institutional investor bought 1,632 shares of the industrial products company's stock, valued at approximately $1,434,000.

Several other hedge funds have also made changes to their positions in the company. Procyon Advisors LLC lifted its holdings in shares of Parker-Hannifin by 158,565.9% in the 3rd quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company's stock worth $3,843,346,000 after buying an additional 5,066,179 shares during the period. Bank of America Corp DE raised its position in shares of Parker-Hannifin by 0.6% in the 3rd quarter. Bank of America Corp DE now owns 3,904,591 shares of the industrial products company's stock worth $2,960,266,000 after acquiring an additional 22,706 shares in the last quarter. Capital World Investors raised its position in shares of Parker-Hannifin by 7.0% in the 3rd quarter. Capital World Investors now owns 2,584,141 shares of the industrial products company's stock worth $1,959,166,000 after acquiring an additional 169,073 shares in the last quarter. Ameriprise Financial Inc. raised its position in shares of Parker-Hannifin by 0.6% in the 3rd quarter. Ameriprise Financial Inc. now owns 2,207,996 shares of the industrial products company's stock worth $1,674,132,000 after acquiring an additional 13,309 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in shares of Parker-Hannifin by 0.5% in the 3rd quarter. Envestnet Asset Management Inc. now owns 817,094 shares of the industrial products company's stock worth $619,480,000 after acquiring an additional 4,454 shares in the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Parker-Hannifin Stock Performance

Shares of PH opened at $964.59 on Thursday. The stock has a 50-day moving average of $954.11 and a two-hundred day moving average of $885.40. Parker-Hannifin Corporation has a one year low of $538.08 and a one year high of $1,034.96. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 1.18. The stock has a market cap of $121.75 billion, a P/E ratio of 35.18, a P/E/G ratio of 3.17 and a beta of 1.25.

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

Parker-Hannifin Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, March 6th. Stockholders 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 dividend yield of 0.7%. Parker-Hannifin's dividend payout ratio (DPR) is 26.26%.

Insider Activity

In related news, COO Andrew D. Ross sold 4,664 shares of the firm's stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $999.00, for a total value of $4,659,336.00. Following the transaction, the chief operating officer directly owned 13,120 shares of the company's stock, valued at approximately $13,106,880. This trade represents a 26.23% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Todd M. Leombruno sold 2,062 shares of the firm's stock in a transaction dated 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 completion of the transaction, the chief financial officer directly owned 20,610 shares in the company, valued at $20,658,227.40. This represents a 9.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 10,063 shares of company stock worth $9,891,214. 0.32% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently commented on PH shares. BMO Capital Markets started coverage on Parker-Hannifin in a research report on Friday, March 27th. They issued an "outperform" rating and a $1,090.00 price target for the company. Jefferies Financial Group boosted their price target on Parker-Hannifin from $1,050.00 to $1,100.00 and gave the stock a "buy" rating in a research report on Friday, January 30th. JPMorgan Chase & Co. boosted their price target on 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. KeyCorp reissued an "overweight" rating and issued a $1,100.00 price target on shares of Parker-Hannifin in a research report on Friday, January 30th. Finally, Wells Fargo & Company reduced their price target on Parker-Hannifin from $1,050.00 to $980.00 and set an "overweight" rating for the company in a research report on Wednesday, April 1st. Seventeen investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $1,000.60.

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.

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