Parker-Hannifin Corporation $PH Stock Acquired by Collaborative Fund Advisors LLC

Collaborative Fund Advisors LLC lifted its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 170.8% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,300 shares of the industrial products company’s stock after purchasing an additional 820 shares during the period. Collaborative Fund Advisors LLC’s holdings in Parker-Hannifin were worth $1,242,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of PH. BlackRock Inc. acquired a new stake in Parker-Hannifin in the 2nd quarter worth about $10,163,362,000. State Street Corp raised its holdings in shares of Parker-Hannifin by 0.5% during the second quarter. State Street Corp now owns 9,385,389 shares of the industrial products company’s stock valued at $9,180,037,000 after acquiring an additional 42,548 shares during the last quarter. Bank of America Corp DE acquired a new position in shares of Parker-Hannifin during the second quarter valued at approximately $3,273,507,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in shares of Parker-Hannifin by 2.5% in the second quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,032,942 shares of the industrial products company’s stock valued at $1,010,341,000 after acquiring an additional 25,167 shares in the last quarter. Finally, Deutsche Bank AG purchased a new position in shares of Parker-Hannifin in the second quarter valued at approximately $987,587,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Berend Bracht sold 602 shares of the company’s stock in a transaction on Wednesday, August 26th. The stock was sold at an average price of $1,040.47, for a total value of $626,362.94. Following the completion of the sale, the vice president directly owned 4,399 shares in the company, valued at $4,577,027.53. This represents a 12.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 0.35% of the company’s stock.

Parker-Hannifin Trading Down 3.7%

PH opened at $910.09 on Thursday. The firm has a market capitalization of $114.77 billion, a price-to-earnings ratio of 31.94, a price-to-earnings-growth ratio of 2.63 and a beta of 1.15. The company’s 50 day simple moving average is $951.20 and its two-hundred day simple moving average is $949.56. Parker-Hannifin Corporation has a 1-year low of $755.10 and a 1-year high of $1,099.94. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.26 and a quick ratio of 0.74.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $8.31 by $0.96. Parker-Hannifin had a return on equity of 28.48% and a net margin of 16.97%. The business had revenue of $5.75 billion during the quarter, compared to analyst estimates of $5.57 billion. During the same period in the prior year, the business earned $7.69 earnings per share. The business’s revenue was up 9.8% compared to the same quarter last year. Analysts expect that Parker-Hannifin Corporation will post 35.72 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Friday, November 13th will be paid a dividend of $2.00 per share. The ex-dividend date of this dividend is Friday, November 13th. This represents a $8.00 dividend on an annualized basis and a yield of 0.9%. Parker-Hannifin’s payout ratio is 28.08%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. TD Cowen lifted their price target on Parker-Hannifin from $850.00 to $950.00 and gave the stock a “hold” rating in a research note on Wednesday, October 14th. Wall Street Zen raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, October 24th. Weiss Ratings restated a “buy (b)” rating on shares of Parker-Hannifin in a report on Thursday, October 15th. JPMorgan Chase & Co. lowered their target price on shares of Parker-Hannifin from $1,140.00 to $1,131.00 and set an “overweight” rating on the stock in a research note on Friday, October 9th. Finally, Mizuho set a $1,200.00 target price on shares of Parker-Hannifin in a report on Thursday, October 15th. Eighteen equities research analysts have rated the stock with a Buy rating and five have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $1,146.35.

Parker-Hannifin Profile

Parker-Hannifin Corporation is a diversified manufacturer of motion and control technologies and systems. The company serves aerospace, industrial, and other specialized markets with products designed to control the movement and flow of liquids and gases, as well as mechanical motion and power.

Its product portfolio includes hydraulic and pneumatic systems, filtration and process-control equipment, electromechanical technologies, sealing and shielding products, connectors, pumps, valves, and related components.