Mather Group LLC. Acquires 44 Shares of Parker-Hannifin Co. (NYSE:PH)

Mather Group LLC. raised its holdings in Parker-Hannifin Co. (NYSE:PH) by 1.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 2,545 shares of the industrial products company’s stock after buying an additional 44 shares during the period. Mather Group LLC.’s holdings in Parker-Hannifin were worth $1,172,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Alphinity Investment Management Pty Ltd bought a new stake in Parker-Hannifin during the third quarter worth $310,208,000. FMR LLC raised its holdings in shares of Parker-Hannifin by 9.6% in the 3rd quarter. FMR LLC now owns 3,689,402 shares of the industrial products company’s stock valued at $1,437,096,000 after purchasing an additional 324,063 shares during the period. International Assets Investment Management LLC lifted its stake in Parker-Hannifin by 65,634.7% in the 4th quarter. International Assets Investment Management LLC now owns 219,554 shares of the industrial products company’s stock valued at $101,149,000 after purchasing an additional 219,220 shares during the last quarter. Envestnet Asset Management Inc. grew its holdings in Parker-Hannifin by 52.0% during the third quarter. Envestnet Asset Management Inc. now owns 506,406 shares of the industrial products company’s stock worth $197,255,000 after purchasing an additional 173,323 shares during the period. Finally, iA Global Asset Management Inc. bought a new stake in Parker-Hannifin in the third quarter valued at approximately $58,601,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Thomas C. Gentile sold 2,978 shares of the company’s stock in a transaction that occurred on Friday, February 2nd. The shares were sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the completion of the transaction, the vice president now directly owns 5,465 shares in the company, valued at approximately $2,741,899.80. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. In related news, VP Thomas C. Gentile sold 2,978 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the sale, the vice president now owns 5,465 shares in the company, valued at approximately $2,741,899.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark J. Hart sold 5,197 shares of the stock in a transaction dated Friday, February 2nd. The shares were sold at an average price of $502.94, for a total value of $2,613,779.18. Following the completion of the transaction, the executive vice president now owns 7,063 shares of the company’s stock, valued at $3,552,265.22. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,079 shares of company stock worth $6,099,566. Corporate insiders own 1.03% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of NYSE:PH opened at $544.91 on Wednesday. Parker-Hannifin Co. has a 1 year low of $318.32 and a 1 year high of $570.15. The stock has a market capitalization of $69.97 billion, a price-to-earnings ratio of 26.98, a price-to-earnings-growth ratio of 2.03 and a beta of 1.52. The company has a debt-to-equity ratio of 0.72, a current ratio of 0.90 and a quick ratio of 0.49. The company’s 50 day simple moving average is $544.46 and its 200 day simple moving average is $480.89.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, February 1st. The industrial products company reported $6.15 earnings per share for the quarter, beating analysts’ consensus estimates of $5.26 by $0.89. Parker-Hannifin had a return on equity of 29.91% and a net margin of 13.28%. The firm had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter last year, the business posted $4.76 EPS. The company’s revenue was up 3.1% compared to the same quarter last year. As a group, research analysts predict that Parker-Hannifin Co. will post 24.3 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 10th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.20%. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.48. Parker-Hannifin’s dividend payout ratio is 29.31%.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on PH shares. TD Cowen upgraded Parker-Hannifin from an “underperform” rating to a “market perform” rating and lifted their target price for the stock from $300.00 to $500.00 in a research note on Friday, March 1st. The Goldman Sachs Group reissued a “buy” rating and issued a $551.00 price objective on shares of Parker-Hannifin in a research report on Tuesday, January 2nd. Barclays raised their price objective on shares of Parker-Hannifin from $558.00 to $625.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 2nd. KeyCorp increased their price objective on Parker-Hannifin from $575.00 to $640.00 and gave the stock an “overweight” rating in a research report on Thursday, April 11th. Finally, Stifel Nicolaus upped their price target on shares of Parker-Hannifin from $588.00 to $629.00 and gave the company a “buy” rating in a research note on Wednesday, April 3rd. Four research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $515.38.

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.