Madison Asset Management LLC Reduces Position in Parker-Hannifin Corporation $PH

Madison Asset Management LLC decreased its position in Parker-Hannifin Corporation (NYSE:PH) by 9.3% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 109,245 shares of the industrial products company’s stock after selling 11,156 shares during the quarter. Madison Asset Management LLC owned about 0.09% of Parker-Hannifin worth $82,824,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC boosted its stake in Parker-Hannifin by 5.9% in the 4th quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company’s stock worth $1,150,000 after buying an additional 101 shares during the last quarter. Bison Wealth LLC lifted its holdings in shares of Parker-Hannifin by 4.5% during the 4th quarter. Bison Wealth LLC now owns 749 shares of the industrial products company’s stock worth $476,000 after acquiring an additional 32 shares during the period. Empowered Funds LLC boosted its position in shares of Parker-Hannifin by 0.5% in the first quarter. Empowered Funds LLC now owns 2,894 shares of the industrial products company’s stock worth $1,759,000 after acquiring an additional 15 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of Parker-Hannifin by 26.2% in the first quarter. Acadian Asset Management LLC now owns 799 shares of the industrial products company’s stock worth $484,000 after acquiring an additional 166 shares during the last quarter. Finally, Sivia Capital Partners LLC grew its holdings in Parker-Hannifin by 3.6% in the second quarter. Sivia Capital Partners LLC now owns 430 shares of the industrial products company’s stock valued at $300,000 after purchasing an additional 15 shares during the period. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Stock Performance

Shares of NYSE:PH opened at $989.98 on Wednesday. The company has a market cap of $124.96 billion, a P/E ratio of 36.10, a PEG ratio of 3.15 and a beta of 1.25. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 1.18. Parker-Hannifin Corporation has a one year low of $488.45 and a one year high of $992.08. The business’s 50-day simple moving average is $913.47 and its 200 day simple moving average is $819.76.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, January 29th. The industrial products company reported $7.65 earnings per share for the quarter, topping analysts’ consensus estimates of $7.11 by $0.54. The firm had revenue of $5.17 billion during the quarter, compared to analysts’ expectations of $5.07 billion. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.Parker-Hannifin’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $6.53 EPS. On average, sell-side analysts forecast that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 6th will be paid a dividend of $1.80 per share. The ex-dividend date of this dividend is Friday, February 6th. This represents a $7.20 annualized dividend and a yield of 0.7%. Parker-Hannifin’s payout ratio is 26.26%.

Insider Activity

In other Parker-Hannifin news, COO Andrew D. Ross sold 2,488 shares of the company’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $894.81, for a total value of $2,226,287.28. Following the completion of the transaction, the chief operating officer directly owned 13,120 shares of the company’s stock, valued at $11,739,907.20. This represents a 15.94% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Matthew A. Jacobson sold 564 shares of the firm’s stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $949.94, for a total value of $535,766.16. Following the sale, the vice president owned 1,000 shares of the company’s stock, valued at $949,940. This represents a 36.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders have sold 5,825 shares of company stock worth $5,391,341. 0.32% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have weighed in on PH. Wall Street Zen upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Wednesday, February 4th. Stifel Nicolaus increased their target price on Parker-Hannifin from $941.00 to $965.00 and gave the stock a “hold” rating in a research report on Friday, January 30th. The Goldman Sachs Group reissued a “buy” rating on shares of Parker-Hannifin in a research report on Thursday, January 29th. Argus reaffirmed a “buy” rating and issued a $900.00 price objective on shares of Parker-Hannifin in a research note on Monday, November 10th. Finally, Barclays boosted their target price on Parker-Hannifin from $990.00 to $1,020.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Seventeen equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $990.47.

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.