The Manufacturers Life Insurance Company Purchases 207,208 Shares of Parker-Hannifin Corp (PH)

The Manufacturers Life Insurance Company boosted its position in Parker-Hannifin Corp (NYSE:PH) by 134.2% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 361,645 shares of the industrial products company’s stock after purchasing an additional 207,208 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.27% of Parker-Hannifin worth $61,852,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the stock. Daiwa Securities Group Inc. increased its stake in Parker-Hannifin by 8.3% during the 4th quarter. Daiwa Securities Group Inc. now owns 7,128 shares of the industrial products company’s stock valued at $1,422,000 after buying an additional 548 shares during the period. New Mexico Educational Retirement Board increased its stake in Parker-Hannifin by 3.2% during the 4th quarter. New Mexico Educational Retirement Board now owns 12,810 shares of the industrial products company’s stock valued at $2,557,000 after buying an additional 400 shares during the period. Sei Investments Co. increased its stake in Parker-Hannifin by 4.9% during the 4th quarter. Sei Investments Co. now owns 98,905 shares of the industrial products company’s stock valued at $19,740,000 after buying an additional 4,609 shares during the period. First Trust Advisors LP increased its stake in Parker-Hannifin by 156.0% during the 4th quarter. First Trust Advisors LP now owns 131,894 shares of the industrial products company’s stock valued at $26,323,000 after buying an additional 80,371 shares during the period. Finally, Advisory Research Inc. acquired a new position in Parker-Hannifin during the 4th quarter valued at about $475,000. Hedge funds and other institutional investors own 80.00% of the company’s stock.

In other Parker-Hannifin news, VP Andrew M. Weeks sold 2,600 shares of the firm’s stock in a transaction dated Monday, May 7th. The shares were sold at an average price of $169.36, for a total value of $440,336.00. Following the completion of the transaction, the vice president now directly owns 6,160 shares in the company, valued at $1,043,257.60. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Candy M. Obourn sold 1,825 shares of the firm’s stock in a transaction dated Monday, April 30th. The stock was sold at an average price of $164.93, for a total transaction of $300,997.25. The disclosure for this sale can be found here. Insiders sold a total of 14,578 shares of company stock worth $2,564,440 in the last ninety days. Corporate insiders own 1.12% of the company’s stock.



Several research firms have commented on PH. Buckingham Research lowered their target price on shares of Parker-Hannifin from $210.00 to $195.00 and set a “hold” rating on the stock in a research note on Friday, April 27th. Citigroup lowered their target price on shares of Parker-Hannifin from $205.00 to $180.00 and set a “neutral” rating on the stock in a research note on Monday, April 30th. Robert W. Baird raised shares of Parker-Hannifin from a “neutral” rating to an “outperform” rating and set a $203.00 target price on the stock in a research note on Thursday, March 8th. Zacks Investment Research cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Monday, March 19th. Finally, Wells Fargo & Co reissued a “buy” rating on shares of Parker-Hannifin in a research note on Tuesday, May 29th. One analyst has rated the stock with a sell rating, seven have given a hold rating and nine have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $200.40.

Shares of Parker-Hannifin opened at $170.92 on Friday, according to MarketBeat Ratings. The company has a market capitalization of $22.86 billion, a PE ratio of 21.08, a price-to-earnings-growth ratio of 1.73 and a beta of 1.42. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.09 and a current ratio of 1.59. Parker-Hannifin Corp has a 12-month low of $153.65 and a 12-month high of $212.80.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, April 26th. The industrial products company reported $2.80 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.62 by $0.18. The company had revenue of $3.75 billion for the quarter, compared to analysts’ expectations of $3.67 billion. Parker-Hannifin had a net margin of 7.16% and a return on equity of 23.63%. The business’s revenue was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.11 EPS. research analysts forecast that Parker-Hannifin Corp will post 10.08 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, June 1st. Stockholders of record on Thursday, May 10th were paid a $0.76 dividend. The ex-dividend date was Wednesday, May 9th. This represents a $3.04 annualized dividend and a dividend yield of 1.78%. This is a boost from Parker-Hannifin’s previous quarterly dividend of $0.66. Parker-Hannifin’s payout ratio is currently 37.48%.

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 in two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment provides static and dynamic sealing devices; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; hydraulic, pneumatic, and electromechanical components and systems for builders and users of industrial and mobile machinery and equipment; and critical flow components for process instrumentation, healthcare, and ultra-high-purity applications, as well as components for use in refrigeration and air conditioning systems, and in fluid control applications for processing, fuel dispensing, beverage dispensing, and mobile emissions.

Institutional Ownership by Quarter for Parker-Hannifin (NYSE:PH)

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