Point72 Asia Hong Kong Ltd Has $377,000 Holdings in Parker-Hannifin Corp (PH)

Point72 Asia Hong Kong Ltd raised its holdings in shares of Parker-Hannifin Corp (NYSE:PH) by 392.2% during the first quarter, HoldingsChannel.com reports. The fund owned 2,205 shares of the industrial products company’s stock after purchasing an additional 1,757 shares during the quarter. Point72 Asia Hong Kong Ltd’s holdings in Parker-Hannifin were worth $377,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of PH. Boston Partners raised its holdings in Parker-Hannifin by 95.7% during the 1st quarter. Boston Partners now owns 1,266,759 shares of the industrial products company’s stock valued at $216,654,000 after acquiring an additional 619,359 shares during the period. UBS Asset Management Americas Inc. increased its holdings in shares of Parker-Hannifin by 84.3% in the fourth quarter. UBS Asset Management Americas Inc. now owns 784,317 shares of the industrial products company’s stock worth $156,534,000 after purchasing an additional 358,656 shares during the period. Eaton Vance Management increased its holdings in shares of Parker-Hannifin by 141.6% in the first quarter. Eaton Vance Management now owns 514,556 shares of the industrial products company’s stock worth $88,005,000 after purchasing an additional 301,597 shares during the period. State of New Jersey Common Pension Fund D increased its holdings in shares of Parker-Hannifin by 500.0% in the first quarter. State of New Jersey Common Pension Fund D now owns 360,000 shares of the industrial products company’s stock worth $61,571,000 after purchasing an additional 300,000 shares during the period. Finally, The Manufacturers Life Insurance Company increased its holdings in shares of Parker-Hannifin by 134.2% in the first quarter. The Manufacturers Life Insurance Company now owns 361,645 shares of the industrial products company’s stock worth $61,852,000 after purchasing an additional 207,208 shares during the period. 80.00% of the stock is currently owned by institutional investors and hedge funds.

Shares of Parker-Hannifin opened at $172.14 on Thursday, Marketbeat.com reports. Parker-Hannifin Corp has a 52-week low of $153.65 and a 52-week high of $212.80. The firm has a market capitalization of $23.20 billion, a P/E ratio of 21.23, a P/E/G ratio of 1.76 and a beta of 1.42. The company has a quick ratio of 1.09, a current ratio of 1.59 and a debt-to-equity ratio of 0.82.

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

The business also recently announced a quarterly dividend, which was paid on Friday, June 1st. Investors of record on Thursday, May 10th were given a $0.76 dividend. The ex-dividend date was Wednesday, May 9th. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $0.66. This represents a $3.04 annualized dividend and a yield of 1.77%. Parker-Hannifin’s payout ratio is 37.48%.

In other Parker-Hannifin news, VP Robert W. Malone sold 430 shares of the company’s stock in a transaction dated Monday, April 30th. The shares were sold at an average price of $165.12, for a total transaction of $71,001.60. Following the completion of the sale, the vice president now directly owns 14,816 shares in the company, valued at $2,446,417.92. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Candy M. Obourn sold 1,825 shares of the company’s stock in a transaction dated Monday, April 30th. The shares were 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 14,578 shares of company stock valued at $2,564,440 over the last quarter. 1.12% of the stock is owned by company insiders.

PH has been the topic of several research analyst reports. Wells Fargo & Co reaffirmed a “buy” rating on shares of Parker-Hannifin in a report on Tuesday, May 29th. Stifel Nicolaus reaffirmed a “buy” rating and issued a $200.00 price target (down previously from $232.00) on shares of Parker-Hannifin in a report on Monday, April 9th. Jefferies Financial Group reaffirmed a “hold” rating and issued a $200.00 price target on shares of Parker-Hannifin in a report on Wednesday, March 7th. Zacks Investment Research cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Monday, March 19th. Finally, Buckingham Research decreased their price target on shares of Parker-Hannifin from $210.00 to $195.00 and set a “hold” rating on the stock in a report on Friday, April 27th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. Parker-Hannifin currently has a consensus rating of “Hold” and an average price target of $200.40.

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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