Lantz Financial LLC Acquires Shares of 747 Parker-Hannifin Corporation $PH

Lantz Financial LLC bought a new position in shares of Parker-Hannifin Corporation (NYSE:PH) in the 3rd quarter, HoldingsChannel reports. The institutional investor bought 747 shares of the industrial products company’s stock, valued at approximately $566,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Chilton Capital Management LLC acquired a new position in shares of Parker-Hannifin during the third quarter valued at approximately $29,000. Interchange Capital Partners LLC acquired a new stake in Parker-Hannifin during the 2nd quarter worth $31,000. Valley Wealth Managers Inc. purchased a new stake in shares of Parker-Hannifin during the third quarter worth $36,000. State of Wyoming purchased a new position in shares of Parker-Hannifin in the second quarter worth about $38,000. Finally, Financial Consulate Inc. acquired a new position in Parker-Hannifin during the third quarter worth about $47,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

PH has been the subject of a number of recent research reports. Argus reiterated a “buy” rating and issued a $900.00 price objective on shares of Parker-Hannifin in a report on Monday, November 10th. Robert W. Baird set a $1,050.00 price target on Parker-Hannifin in a report on Friday, January 30th. Stifel Nicolaus boosted their price objective on Parker-Hannifin from $941.00 to $965.00 and gave the stock a “hold” rating in a research note on Friday, January 30th. Citigroup upped their target price on Parker-Hannifin from $1,074.00 to $1,092.00 and gave the company a “buy” rating in a report on Friday, January 30th. Finally, Jefferies Financial Group boosted their price target on shares of Parker-Hannifin from $1,050.00 to $1,100.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Seventeen investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and a consensus target price of $990.47.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $977.70 on Friday. Parker-Hannifin Corporation has a 1 year low of $488.45 and a 1 year high of $989.13. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 1.18. The company’s 50 day simple moving average is $908.41 and its 200-day simple moving average is $815.62. The company has a market capitalization of $123.41 billion, a price-to-earnings ratio of 35.66, a price-to-earnings-growth ratio of 3.33 and a beta of 1.25.

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

Parker-Hannifin Announces Dividend

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

Insider Activity

In other Parker-Hannifin news, VP Matthew A. Jacobson sold 564 shares of the stock in a transaction that occurred 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 sale, the vice president directly owned 1,000 shares in the company, valued at $949,940. This represents a 36.06% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, VP Rachid Bendali sold 1,437 shares of the business’s stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $852.99, for a total transaction of $1,225,746.63. Following the completion of the transaction, the vice president owned 2,714 shares of the company’s stock, valued at approximately $2,315,014.86. This trade represents a 34.62% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 10,769 shares of company stock worth $9,649,169 over the last 90 days. Company insiders own 0.32% of the company’s stock.

Parker-Hannifin Company 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.