Michael Brady & Co. LLC Makes New $1.27 Million Investment in Parker-Hannifin Corporation $PH

Key Points

• Michael Brady & Co. LLC opened a new position in Parker‑Hannifin (NYSE:PH), buying 1,440 shares valued at approximately $1.27 million, which represents about 1.3% of its portfolio and is its 12th largest holding.
• Company insiders have been net sellers recently: CFO Todd M. Leombruno sold 2,062 shares (~$2.07 million) and VP Dinu J. Parel sold 1,316 shares, with insiders selling a total of 10,063 shares valued at about $9.89 million in the past three months.
• Parker‑Hannifin beat quarterly EPS estimates ($7.65 vs. $7.11) with revenue up 9.1%, and analysts maintain a consensus "Moderate Buy" rating with an average price target of $1,000.60.

Michael Brady & Co. LLC bought a new position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 1,440 shares of the industrial products company's stock, valued at approximately $1,266,000. Parker-Hannifin comprises about 1.3% of Michael Brady & Co. LLC's investment portfolio, making the stock its 12th largest holding.

Several other large investors also recently bought and sold shares of the stock. Procyon Advisors LLC grew its position in Parker-Hannifin by 158,565.9% during 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 purchasing an additional 5,066,179 shares during the last quarter. Bank of America Corp DE boosted its holdings 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 valued at $2,960,266,000 after acquiring an additional 22,706 shares during the last quarter. Capital World Investors boosted its holdings 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 valued at $1,959,166,000 after acquiring an additional 169,073 shares during the last quarter. Ameriprise Financial Inc. boosted its holdings 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 valued at $1,674,132,000 after acquiring an additional 13,309 shares during the last quarter. Finally, Envestnet Asset Management Inc. boosted its holdings 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 valued at $619,480,000 after acquiring an additional 4,454 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company's stock.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, CFO Todd M. Leombruno sold 2,062 shares of the company's stock in a transaction 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 completion of the transaction, the chief financial officer directly owned 20,610 shares in the company, valued at approximately $20,658,227.40. This represents a 9.09% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Dinu J. Parel sold 1,316 shares of the company's stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $950.05, for a total transaction of $1,250,265.80. Following the transaction, the vice president owned 6,534 shares of the company's stock, valued at $6,207,626.70. This represents a 16.76% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 10,063 shares of company stock valued at $9,891,214 in the last three months. Company insiders own 0.32% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on PH. Wells Fargo & Company dropped their price objective on shares of Parker-Hannifin from $1,050.00 to $980.00 and set an "overweight" rating on the stock in a report on Wednesday, April 1st. Jefferies Financial Group upped their price objective on shares of Parker-Hannifin from $1,050.00 to $1,100.00 and gave the company a "buy" rating in a report on Friday, January 30th. Barclays upped their price objective on shares of Parker-Hannifin from $990.00 to $1,020.00 and gave the company an "overweight" rating in a report on Friday, January 30th. The Goldman Sachs Group reaffirmed a "buy" rating on shares of Parker-Hannifin in a report on Thursday, January 29th. Finally, Stifel Nicolaus upped their price objective on shares of Parker-Hannifin from $965.00 to $1,000.00 and gave the company a "hold" rating in a report on Friday, April 10th. Seventeen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $1,000.60.

Parker-Hannifin Stock Performance

PH opened at $996.65 on Tuesday. The company has a debt-to-equity ratio of 0.52, a current ratio of 1.18 and a quick ratio of 0.66. The firm has a fifty day moving average price of $954.47 and a 200 day moving average price of $891.05. Parker-Hannifin Corporation has a 1 year low of $538.08 and a 1 year high of $1,034.96. The stock has a market cap of $125.80 billion, a P/E ratio of 36.35, a P/E/G ratio of 3.18 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 (EPS) 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 period in the previous year, the company posted $6.53 earnings per share. The business's revenue for the quarter was up 9.1% on a year-over-year basis. Equities research analysts anticipate that Parker-Hannifin Corporation will post 30.99 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

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

Parker-Hannifin 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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