Parker-Hannifin Corporation $PH Shares Acquired by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments increased its stake in Parker‑Hannifin in Q4 by 19.8%, buying 3,808 shares to hold 23,064 shares valued at about $20.272 million, per its latest 13F filing.
• Company insiders have sold 10,063 shares worth roughly $9.89 million in the past 90 days, including VP Dinu J. Parel (1,316 shares at ~$950.05) and COO Andrew D. Ross (4,664 shares at ~$999), each materially reducing their positions.
• Parker‑Hannifin beat quarterly EPS expectations ($7.65 vs. $7.11) with revenue up 9.1%, and analysts hold a consensus "Moderate Buy" with an average price target of $1,000.60 (17 Buy, 4 Hold).

Mirae Asset Global Investments Co. Ltd. increased its stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 19.8% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 23,064 shares of the industrial products company's stock after purchasing an additional 3,808 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Parker-Hannifin were worth $20,272,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Texas Capital Bancshares Inc TX purchased a new position in Parker-Hannifin in the third quarter valued at about $25,000. Chilton Capital Management LLC acquired a new stake in shares of Parker-Hannifin in the third quarter valued at approximately $29,000. Ameriflex Group Inc. increased its stake in shares of 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 in the last quarter. Morse Asset Management Inc increased its stake in shares of 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 in the last quarter. Finally, Valley Wealth Managers Inc. purchased a new position in Parker-Hannifin during the third quarter worth $36,000. Institutional investors and hedge funds own 82.44% of the company's stock.

Insider Transactions at Parker-Hannifin

In related news, VP Dinu J. Parel sold 1,316 shares of Parker-Hannifin stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $950.05, for a total value of $1,250,265.80. Following the transaction, the vice president owned 6,534 shares in the company, valued at approximately $6,207,626.70. This trade represents a 16.76% 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 the SEC website. Also, COO Andrew D. Ross sold 4,664 shares of Parker-Hannifin stock in a transaction on 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 completion of the transaction, the chief operating officer owned 13,120 shares in the company, valued at $13,106,880. The trade was a 26.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 10,063 shares of company stock valued at $9,891,214 in the last ninety days. Company insiders own 0.32% of the company's stock.

Analyst Ratings Changes

Several equities analysts have weighed in on PH shares. Wells Fargo & Company dropped 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. KeyCorp reissued an "overweight" rating and set a $1,100.00 price target on shares of Parker-Hannifin in a research report on Friday, January 30th. Stifel Nicolaus raised their price target on Parker-Hannifin from $965.00 to $1,000.00 and gave the stock a "hold" rating in a research report on Friday, April 10th. Robert W. Baird set a $1,050.00 price objective on Parker-Hannifin in a report on Friday, January 30th. Finally, Jefferies Financial Group raised their price objective on Parker-Hannifin from $1,050.00 to $1,100.00 and gave the stock a "buy" rating in a report on Friday, January 30th. Seventeen analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to data from MarketBeat.com, Parker-Hannifin has a consensus rating of "Moderate Buy" and an average target price of $1,000.60.

Parker-Hannifin Price Performance

PH stock opened at $989.43 on Friday. Parker-Hannifin Corporation has a 52-week low of $538.08 and a 52-week high of $1,034.96. The stock's fifty day simple moving average is $954.10 and its 200-day simple moving average is $888.43. The company has a quick ratio of 0.66, a current ratio of 1.18 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $124.89 billion, a price-to-earnings ratio of 36.08, a price-to-earnings-growth ratio of 3.08 and a beta of 1.25.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings data on Thursday, January 29th. The industrial products company reported $7.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $7.11 by $0.54. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.During the same quarter in the previous year, the business earned $6.53 EPS. The firm's revenue was up 9.1% compared to the same quarter last year. Equities research analysts expect that Parker-Hannifin Corporation will post 26.71 EPS for the current 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 issued a $1.80 dividend. 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 presently 26.26%.

About Parker-Hannifin

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.