OMERS ADMINISTRATION Corp Grows Position in Parker-Hannifin Co. (NYSE:PH)

OMERS ADMINISTRATION Corp increased its stake in Parker-Hannifin Co. (NYSE:PH - Free Report) by 6,912.4% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 312,472 shares of the industrial products company's stock after purchasing an additional 308,016 shares during the period. Parker-Hannifin accounts for 1.7% of OMERS ADMINISTRATION Corp's portfolio, making the stock its 16th largest holding. OMERS ADMINISTRATION Corp owned about 0.24% of Parker-Hannifin worth $198,742,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Parker-Hannifin in the 4th quarter valued at approximately $1,106,132,000. Proficio Capital Partners LLC boosted its position 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 worth $725,229,000 after purchasing an additional 1,139,265 shares in the last quarter. Capital World Investors acquired a new position in shares of Parker-Hannifin in the 4th quarter valued at $418,174,000. Assenagon Asset Management S.A. raised its stake in Parker-Hannifin by 176.2% during the 4th quarter. Assenagon Asset Management S.A. now owns 438,126 shares of the industrial products company's stock worth $278,661,000 after buying an additional 279,480 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Parker-Hannifin in the fourth quarter valued at about $175,739,000. Institutional investors own 82.44% of the company's stock.

Parker-Hannifin Trading Up 1.2%

Shares of PH stock traded up $8.31 during trading hours on Friday, reaching $680.95. The company's stock had a trading volume of 458,022 shares, compared to its average volume of 719,563. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. Parker-Hannifin Co. has a one year low of $488.45 and a one year high of $718.44. The stock has a market capitalization of $87.01 billion, a P/E ratio of 28.19, a P/E/G ratio of 2.85 and a beta of 1.36. The firm's fifty day simple moving average is $602.00 and its 200 day simple moving average is $646.70.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings results 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. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. The firm had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same period last year, the company earned $6.51 earnings per share. The company's revenue was down 2.2% on a year-over-year basis. Equities research analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be issued a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a dividend yield of 1.06%. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, May 9th. Parker-Hannifin's payout ratio is presently 27.72%.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PH. KeyCorp increased their target price on Parker-Hannifin from $690.00 to $735.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. UBS Group dropped their price target on Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating on the stock in a research note on Friday, January 31st. Argus set a $680.00 price objective on Parker-Hannifin in a research report on Tuesday, May 6th. Barclays reduced their target price on shares of Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Finally, StockNews.com cut shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research note on Wednesday, March 19th. Four equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $710.12.

Insider Activity

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of the business's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $620.37, for a total transaction of $93,055.50. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.39% of the stock is owned by corporate insiders.

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.