Parker-Hannifin Co. (NYSE:PH) Shares Bought by Mackenzie Financial Corp

Mackenzie Financial Corp grew its holdings in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 6.4% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 274,913 shares of the industrial products company's stock after purchasing an additional 16,472 shares during the quarter. Mackenzie Financial Corp owned approximately 0.21% of Parker-Hannifin worth $174,853,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Whipplewood Advisors LLC acquired a new position in Parker-Hannifin in the fourth quarter valued at $25,000. Aster Capital Management DIFC Ltd acquired a new position in Parker-Hannifin in the fourth quarter valued at $25,000. Millstone Evans Group LLC acquired a new position in Parker-Hannifin in the fourth quarter valued at $30,000. Mpwm Advisory Solutions LLC acquired a new position in Parker-Hannifin in the fourth quarter valued at $32,000. Finally, Kestra Investment Management LLC acquired a new position in Parker-Hannifin in the fourth quarter valued at $40,000. Hedge funds and other institutional investors own 82.44% of the company's stock.

Parker-Hannifin Stock Down 0.8%

Shares of NYSE PH traded down $5.02 during midday trading on Friday, reaching $662.21. 166,629 shares of the company's stock were exchanged, compared to its average volume of 714,308. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The stock has a market capitalization of $84.62 billion, a PE ratio of 27.39, a price-to-earnings-growth ratio of 2.85 and a beta of 1.36. Parker-Hannifin Co. has a 52-week low of $488.45 and a 52-week high of $718.44. The business's fifty day moving average price is $611.80 and its two-hundred day moving average price is $647.12.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $4.96 billion during the quarter, compared to analyst estimates of $4.99 billion. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. Parker-Hannifin's quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the company earned $6.51 earnings per share. Analysts forecast that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 9th will be 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 yield of 1.09%. The ex-dividend date is Friday, May 9th. Parker-Hannifin's payout ratio is currently 27.72%.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of Parker-Hannifin stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $620.37, for a total value of $93,055.50. Following the completion of the transaction, the vice president now directly owns 2,083 shares in the company, valued at $1,292,230.71. The trade was a 6.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 0.39% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have commented on PH shares. Barclays cut their price objective on Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. UBS Group cut their price objective on Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. KeyCorp raised their price objective on Parker-Hannifin from $690.00 to $735.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Wolfe Research lowered Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research report on Thursday, April 3rd. Finally, Stifel Nicolaus raised their price objective on Parker-Hannifin from $564.00 to $630.00 and gave the company a "hold" rating in a research report on Friday, May 2nd. Four investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $718.44.

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.