Janus Henderson Group PLC Boosts Stake in Parker-Hannifin Co. (NYSE:PH)

Janus Henderson Group PLC grew its stake in Parker-Hannifin Co. (NYSE:PH - Free Report) by 43.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 30,397 shares of the industrial products company's stock after purchasing an additional 9,223 shares during the quarter. Janus Henderson Group PLC's holdings in Parker-Hannifin were worth $19,326,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank purchased a new position in Parker-Hannifin during the fourth quarter valued at $1,106,132,000. Proficio Capital Partners LLC increased its stake in shares of Parker-Hannifin by 116,370.3% during the fourth quarter. Proficio Capital Partners LLC now owns 1,140,244 shares of the industrial products company's stock valued at $725,229,000 after purchasing an additional 1,139,265 shares in the last quarter. Capital World Investors bought a new stake in shares of Parker-Hannifin in the 4th quarter worth approximately $418,174,000. Raymond James Financial Inc. bought a new stake in shares of Parker-Hannifin in the 4th quarter worth approximately $175,739,000. Finally, Franklin Resources Inc. grew its stake in shares of Parker-Hannifin by 41.1% in the 4th quarter. Franklin Resources Inc. now owns 911,075 shares of the industrial products company's stock worth $579,471,000 after buying an additional 265,559 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on PH shares. Barclays reduced their price target on Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Wells Fargo & Company raised their price target on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an "overweight" rating in a research report on Friday, January 31st. Stifel Nicolaus upped 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. Wolfe Research cut Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research note on Thursday, April 3rd. Finally, Evercore ISI increased their price objective on Parker-Hannifin from $824.00 to $827.00 and gave the company an "outperform" rating in a research report on Monday. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $718.44.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of the company's 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. This represents a 6.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 0.39% of the stock is owned by corporate insiders.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock traded down $0.69 on Monday, hitting $679.71. 720,125 shares of the company's stock were exchanged, compared to its average volume of 719,150. The stock has a market capitalization of $86.85 billion, a PE ratio of 28.13, a PEG ratio of 2.85 and a beta of 1.36. 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 company has a 50-day simple moving average of $603.37 and a 200-day simple moving average of $647.33. Parker-Hannifin Co. has a 1 year low of $488.45 and a 1 year high of $718.44.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The industrial products company reported $6.94 earnings per share for the quarter, beating analysts' consensus estimates of $6.72 by $0.22. The firm had revenue of $4.96 billion for the quarter, compared to analysts' expectations of $4.99 billion. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. The business's quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the firm earned $6.51 EPS. As a group, equities analysts anticipate 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. Stockholders of record on Friday, May 9th will be given a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a dividend yield of 1.06%. This is an increase from Parker-Hannifin's previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, May 9th. Parker-Hannifin's dividend payout ratio (DPR) is presently 27.72%.

Parker-Hannifin 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.