OMERS ADMINISTRATION Corp Acquires 308,016 Shares of Parker-Hannifin Co. (NYSE:PH)

OMERS ADMINISTRATION Corp grew its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 6,912.4% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 312,472 shares of the industrial products company’s stock after purchasing an additional 308,016 shares during the quarter. Parker-Hannifin accounts for approximately 1.7% of OMERS ADMINISTRATION Corp’s investment portfolio, making the stock its 16th biggest holding. OMERS ADMINISTRATION Corp’s holdings in Parker-Hannifin were worth $198,742,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. Whipplewood Advisors LLC bought a new stake in Parker-Hannifin during the 4th quarter valued at $25,000. Aster Capital Management DIFC Ltd acquired a new position in shares of Parker-Hannifin during the fourth quarter valued at about $25,000. Millstone Evans Group LLC bought a new stake in shares of Parker-Hannifin during the fourth quarter worth about $30,000. Kestra Investment Management LLC acquired a new stake in shares of Parker-Hannifin in the 4th quarter worth about $40,000. Finally, Meeder Asset Management Inc. lifted its position in Parker-Hannifin by 214.3% in the 4th quarter. Meeder Asset Management Inc. now owns 66 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 45 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Activity at Parker-Hannifin

In related news, VP Jay Reidy sold 150 shares of the company’s stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $620.37, for a total value of $93,055.50. Following the transaction, the vice president now directly owns 2,083 shares in the company, valued at approximately $1,292,230.71. This represents a 6.72% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.39% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PH. StockNews.com lowered Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Wednesday, March 19th. Stifel Nicolaus upped their price target on Parker-Hannifin from $564.00 to $630.00 and gave the stock a “hold” rating in a report on Friday, May 2nd. KeyCorp increased their price target on Parker-Hannifin from $690.00 to $735.00 and gave the company an “overweight” rating in a research report on Friday, May 2nd. UBS Group dropped their price objective on Parker-Hannifin from $842.00 to $805.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. Finally, Evercore ISI increased their target price on shares of Parker-Hannifin from $777.00 to $824.00 and gave the company an “outperform” rating in a report on Wednesday, February 19th. Four analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $710.12.

Parker-Hannifin Trading Up 3.2%

Shares of PH stock opened at $668.41 on Tuesday. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The firm has a market cap of $85.41 billion, a P/E ratio of 27.67, a PEG ratio of 2.85 and a beta of 1.36. The company has a 50 day moving average of $598.95 and a 200-day moving average of $645.94. Parker-Hannifin Co. has a 12-month low of $488.45 and a 12-month high of $718.44.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.72 by $0.22. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. The business had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same period last year, the business posted $6.51 earnings per share. The business’s revenue for the quarter was down 2.2% on a year-over-year basis. Sell-side analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be given a $1.80 dividend. The ex-dividend date of this dividend is Friday, May 9th. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.63. This represents a $7.20 annualized dividend and a dividend yield of 1.08%. Parker-Hannifin’s payout ratio is 27.72%.

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.