Wedge Capital Management L L P NC Has $11.79 Million Position in Parker-Hannifin Corporation $PH

Key Points

• Wedge Capital Management cut its stake in Parker‑Hannifin by 15.3% in Q4 to 13,412 shares valued at $11.79 million, while institutional investors own about 82.44% of the company.
• Company insiders have been selling recently — VPs Matthew Jacobson and Berend Bracht reduced their positions (~36% each) on Feb 2, and insiders sold a total of 10,063 shares worth roughly $9.89 million in the last 90 days; corporate insiders now own 0.32% of the stock.
• Parker‑Hannifin beat quarterly EPS estimates ($7.65 vs. $7.11), reported revenue up 9.1%, and carries a consensus analyst rating of "Moderate Buy" with an average price target near $1,000.10; the company pays a quarterly dividend of $1.80 (annual yield ~0.8%).

Wedge Capital Management L L P NC cut its stake in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 15.3% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm owned 13,412 shares of the industrial products company's stock after selling 2,432 shares during the quarter. Wedge Capital Management L L P NC's holdings in Parker-Hannifin were worth $11,789,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. JFS Wealth Advisors LLC grew its position in Parker-Hannifin by 6.8% during the 4th quarter. JFS Wealth Advisors LLC now owns 173 shares of the industrial products company's stock worth $152,000 after acquiring an additional 11 shares during the last quarter. 180 Wealth Advisors LLC raised its position in Parker-Hannifin by 1.9% in the 4th quarter. 180 Wealth Advisors LLC now owns 652 shares of the industrial products company's stock valued at $573,000 after purchasing an additional 12 shares during the last quarter. Berkshire Asset Management LLC PA raised its position in Parker-Hannifin by 1.1% in the 3rd quarter. Berkshire Asset Management LLC PA now owns 1,208 shares of the industrial products company's stock valued at $916,000 after purchasing an additional 13 shares during the last quarter. Bridgewater Advisors Inc. boosted its stake in Parker-Hannifin by 2.3% in the third quarter. Bridgewater Advisors Inc. now owns 567 shares of the industrial products company's stock worth $473,000 after purchasing an additional 13 shares in the last quarter. Finally, High Net Worth Advisory Group LLC boosted its stake in Parker-Hannifin by 0.3% in the third quarter. High Net Worth Advisory Group LLC now owns 4,694 shares of the industrial products company's stock worth $3,559,000 after purchasing an additional 14 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company's stock.

Insider Activity

In other Parker-Hannifin news, VP Matthew A. Jacobson sold 564 shares of Parker-Hannifin stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $949.94, for a total transaction of $535,766.16. Following the completion of the sale, the vice president owned 1,000 shares of the company's stock, valued at approximately $949,940. The trade was a 36.06% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Berend Bracht sold 1,457 shares of the stock in a transaction on Monday, February 2nd. The shares were sold at an average price of $946.48, for a total value of $1,379,021.36. Following the completion of the transaction, the vice president directly owned 2,580 shares in the company, valued at approximately $2,441,918.40. This trade represents a 36.09% decrease in their position. The SEC filing for this sale provides additional information. In the last ninety days, insiders have sold 10,063 shares of company stock worth $9,891,214. Corporate insiders own 0.32% of the company's stock.

Parker-Hannifin Stock Performance

Shares of NYSE:PH opened at $887.73 on Friday. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52. Parker-Hannifin Corporation has a 1-year low of $488.45 and a 1-year high of $1,034.96. The stock has a market capitalization of $112.05 billion, a P/E ratio of 32.38, a P/E/G ratio of 2.86 and a beta of 1.23. The business has a 50-day moving average price of $954.93 and a two-hundred day moving average price of $868.89.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued 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 last year, the firm posted $6.53 EPS. The firm's revenue was up 9.1% compared to the same quarter last year. Equities analysts predict that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, March 6th. Shareholders of record on Friday, February 6th were paid a $1.80 dividend. The ex-dividend date of this dividend was Friday, February 6th. This represents a $7.20 dividend on an annualized basis and a yield of 0.8%. Parker-Hannifin's dividend payout ratio (DPR) is presently 26.26%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on PH. Robert W. Baird set a $1,050.00 target price on Parker-Hannifin in a research note on Friday, January 30th. BMO Capital Markets initiated coverage on shares of Parker-Hannifin in a research report on Friday. They set an "outperform" rating and a $1,090.00 price target on the stock. Morgan Stanley increased their price objective on shares of Parker-Hannifin from $945.00 to $1,038.00 and gave the stock an "equal weight" rating in a report on Tuesday, February 24th. The Goldman Sachs Group restated a "buy" rating on shares of Parker-Hannifin in a research report on Thursday, January 29th. Finally, Stifel Nicolaus boosted their target price on shares of Parker-Hannifin from $941.00 to $965.00 and gave the stock a "hold" rating in a research note on Friday, January 30th. Seventeen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $1,000.10.

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.

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