Pinebridge Investments L.P. Has $11.74 Million Position in Parker-Hannifin Corp (NYSE:PH)

Pinebridge Investments L.P. grew its position in Parker-Hannifin Corp (NYSE:PH) by 3,849.5% during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm owned 69,076 shares of the industrial products company’s stock after purchasing an additional 67,327 shares during the period. Pinebridge Investments L.P. owned about 0.05% of Parker-Hannifin worth $11,744,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PH. JPMorgan Chase & Co. raised its holdings in Parker-Hannifin by 14.5% in the second quarter. JPMorgan Chase & Co. now owns 4,912,823 shares of the industrial products company’s stock worth $827,567,000 after purchasing an additional 622,437 shares during the period. Thoroughbred Financial Services LLC raised its holdings in Parker-Hannifin by 17,582.8% in the second quarter. Thoroughbred Financial Services LLC now owns 511,563 shares of the industrial products company’s stock worth $51,156,000 after purchasing an additional 508,670 shares during the period. Panagora Asset Management Inc. raised its holdings in Parker-Hannifin by 45.5% in the second quarter. Panagora Asset Management Inc. now owns 967,572 shares of the industrial products company’s stock worth $164,497,000 after purchasing an additional 302,629 shares during the period. Schroder Investment Management Group raised its holdings in Parker-Hannifin by 90.7% in the second quarter. Schroder Investment Management Group now owns 584,888 shares of the industrial products company’s stock worth $99,437,000 after purchasing an additional 278,180 shares during the period. Finally, First Trust Advisors LP raised its holdings in Parker-Hannifin by 268.3% in the second quarter. First Trust Advisors LP now owns 263,063 shares of the industrial products company’s stock worth $44,723,000 after purchasing an additional 191,644 shares during the period. Institutional investors own 82.75% of the company’s stock.

Parker-Hannifin stock traded up $1.45 during mid-day trading on Friday, reaching $183.05. The company’s stock had a trading volume of 46,386 shares, compared to its average volume of 662,735. The company has a market capitalization of $23.30 billion, a price-to-earnings ratio of 15.49, a price-to-earnings-growth ratio of 1.66 and a beta of 1.56. Parker-Hannifin Corp has a 12 month low of $140.82 and a 12 month high of $193.19. The business’s 50 day simple moving average is $167.24 and its 200 day simple moving average is $170.46. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.90 and a current ratio of 2.43.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, August 1st. The industrial products company reported $3.31 earnings per share for the quarter, beating analysts’ consensus estimates of $3.09 by $0.22. The business had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.69 billion. Parker-Hannifin had a net margin of 10.56% and a return on equity of 26.11%. The firm’s revenue for the quarter was down 3.6% compared to the same quarter last year. During the same quarter last year, the firm earned $3.22 earnings per share. As a group, sell-side analysts expect that Parker-Hannifin Corp will post 11.95 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Wednesday, August 28th will be paid a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.92%. The ex-dividend date of this dividend is Tuesday, August 27th. Parker-Hannifin’s dividend payout ratio is presently 29.70%.

In other Parker-Hannifin news, COO Lee C. Banks sold 18,989 shares of Parker-Hannifin stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $180.95, for a total value of $3,436,059.55. Following the completion of the sale, the chief operating officer now owns 92,617 shares in the company, valued at approximately $16,759,046.15. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Thomas L. Williams sold 32,109 shares of Parker-Hannifin stock in a transaction dated Tuesday, September 10th. The stock was sold at an average price of $180.68, for a total transaction of $5,801,454.12. Following the completion of the sale, the chief executive officer now owns 130,176 shares of the company’s stock, valued at approximately $23,520,199.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 52,830 shares of company stock valued at $9,550,382. 1.12% of the stock is currently owned by corporate insiders.

PH has been the topic of several analyst reports. Zacks Investment Research lowered shares of Parker-Hannifin from a “hold” rating to a “sell” rating and set a $180.00 target price on the stock. in a report on Wednesday, July 17th. Morgan Stanley increased their target price on shares of Parker-Hannifin from $173.00 to $177.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Goldman Sachs Group downgraded shares of Parker-Hannifin from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $178.00 to $150.00 in a research report on Tuesday, July 16th. JPMorgan Chase & Co. downgraded shares of Parker-Hannifin from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $186.00 to $169.00 in a research report on Wednesday, July 10th. Finally, Bank of America downgraded shares of Parker-Hannifin from a “buy” rating to a “neutral” rating in a research report on Friday, July 12th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. Parker-Hannifin presently has an average rating of “Hold” and an average target price of $176.55.

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.

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

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