Empirical Asset Management LLC Has $10.30 Million Stock Position in Parker-Hannifin Co. (NYSE:PH)

Empirical Asset Management LLC increased its holdings in Parker-Hannifin Co. (NYSE:PH) by 23.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 16,199 shares of the industrial products company’s stock after acquiring an additional 3,119 shares during the period. Empirical Asset Management LLC’s holdings in Parker-Hannifin were worth $10,303,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in PH. Renaissance Technologies LLC bought a new position in shares of Parker-Hannifin during the second quarter valued at about $35,129,000. Meiji Yasuda Life Insurance Co bought a new position in shares of Parker-Hannifin during the 2nd quarter worth approximately $235,000. Mercer Global Advisors Inc. ADV boosted its stake in shares of Parker-Hannifin by 6.4% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 10,391 shares of the industrial products company’s stock worth $5,256,000 after buying an additional 626 shares during the last quarter. Vanguard Personalized Indexing Management LLC grew its holdings in shares of Parker-Hannifin by 13.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 10,233 shares of the industrial products company’s stock valued at $5,176,000 after acquiring an additional 1,196 shares in the last quarter. Finally, Seven Eight Capital LP increased its position in shares of Parker-Hannifin by 407.4% during the second quarter. Seven Eight Capital LP now owns 2,953 shares of the industrial products company’s stock valued at $1,494,000 after acquiring an additional 2,371 shares during the last quarter. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

Shares of NYSE PH opened at $657.97 on Friday. The firm has a market capitalization of $84.69 billion, a P/E ratio of 29.72, a P/E/G ratio of 2.54 and a beta of 1.45. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. The stock’s 50-day simple moving average is $672.09 and its two-hundred day simple moving average is $617.07. Parker-Hannifin Co. has a twelve month low of $453.18 and a twelve month high of $712.42.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, beating analysts’ consensus estimates of $6.14 by $0.06. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The business had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.90 billion. During the same period last year, the firm posted $5.96 earnings per share. Parker-Hannifin’s quarterly revenue was up 1.2% on a year-over-year basis. As a group, equities analysts anticipate that Parker-Hannifin Co. will post 26.75 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 8th were given a $1.63 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $6.52 annualized dividend and a yield of 0.99%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 29.45%.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, COO Andrew D. Ross sold 4,864 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $706.04, for a total value of $3,434,178.56. Following the completion of the sale, the chief operating officer now owns 13,120 shares of the company’s stock, valued at $9,263,244.80. This represents a 27.05 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jennifer A. Parmentier sold 4,906 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $704.69, for a total transaction of $3,457,209.14. Following the transaction, the chief executive officer now directly owns 33,607 shares in the company, valued at $23,682,516.83. This trade represents a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,077 shares of company stock valued at $12,303,829 over the last 90 days. 0.39% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of research analysts have issued reports on the company. UBS Group assumed coverage on Parker-Hannifin in a research note on Wednesday, November 13th. They issued a “buy” rating and a $842.00 price objective for the company. Wolfe Research upgraded shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective for the company in a report on Thursday, December 12th. Argus boosted their target price on shares of Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Stifel Nicolaus cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating and set a $691.00 price target on the stock. in a report on Monday, November 18th. Finally, KeyCorp increased their price objective on Parker-Hannifin from $725.00 to $775.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $722.94.

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.