Citizens Financial Group Inc. RI Purchases 19,194 Shares of Parker-Hannifin Co. (NYSE:PH)

Citizens Financial Group Inc. RI increased its position in shares of Parker-Hannifin Co. (NYSE:PH) by 1,262.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 20,714 shares of the industrial products company’s stock after buying an additional 19,194 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Parker-Hannifin were worth $10,477,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. One Capital Management LLC lifted its holdings in shares of Parker-Hannifin by 146.7% in the 2nd quarter. One Capital Management LLC now owns 2,304 shares of the industrial products company’s stock worth $1,165,000 after purchasing an additional 1,370 shares in the last quarter. Brown Brothers Harriman & Co. lifted its stake in shares of Parker-Hannifin by 250.3% in the second quarter. Brown Brothers Harriman & Co. now owns 1,524 shares of the industrial products company’s stock valued at $771,000 after buying an additional 1,089 shares in the last quarter. Vista Capital Partners Inc. increased its position in shares of Parker-Hannifin by 13.6% during the second quarter. Vista Capital Partners Inc. now owns 426 shares of the industrial products company’s stock worth $215,000 after acquiring an additional 51 shares in the last quarter. J.W. Cole Advisors Inc. raised its holdings in shares of Parker-Hannifin by 6.7% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 2,273 shares of the industrial products company’s stock worth $1,150,000 after acquiring an additional 143 shares during the last quarter. Finally, Prosperity Consulting Group LLC lifted its position in Parker-Hannifin by 59.6% in the 2nd quarter. Prosperity Consulting Group LLC now owns 2,198 shares of the industrial products company’s stock valued at $1,112,000 after acquiring an additional 821 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on PH shares. Barclays dropped their target price on Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating on the stock in a report on Tuesday, June 4th. Wells Fargo & Company lifted their price objective on shares of Parker-Hannifin from $600.00 to $640.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Stifel Nicolaus lowered their target price on shares of Parker-Hannifin from $629.00 to $613.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Mizuho upgraded shares of Parker-Hannifin from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $550.00 to $650.00 in a report on Tuesday, May 28th. Finally, Evercore ISI increased their price objective on shares of Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and an average target price of $624.43.

Parker-Hannifin Price Performance

Shares of NYSE PH opened at $591.33 on Monday. The firm has a market cap of $76.05 billion, a price-to-earnings ratio of 27.87, a price-to-earnings-growth ratio of 2.37 and a beta of 1.43. The stock has a fifty day simple moving average of $562.14 and a two-hundred day simple moving average of $545.12. The company has a current ratio of 0.93, a quick ratio of 0.55 and a debt-to-equity ratio of 0.59. Parker-Hannifin Co. has a 1-year low of $362.49 and a 1-year high of $601.30.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, August 8th. The industrial products company reported $6.77 earnings per share for the quarter, topping the consensus estimate of $6.22 by $0.55. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. The company had revenue of $5.19 billion during the quarter, compared to analyst estimates of $5.08 billion. During the same quarter last year, the firm posted $6.08 EPS. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. Analysts anticipate that Parker-Hannifin Co. will post 26.67 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Wednesday, August 28th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.10%. The ex-dividend date of this dividend was Wednesday, August 28th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 30.73%.

Insider Activity at Parker-Hannifin

In related news, VP Berend Bracht sold 850 shares of Parker-Hannifin stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $592.92, for a total value of $503,982.00. Following the completion of the transaction, the vice president now directly owns 3,350 shares in the company, valued at approximately $1,986,282. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $592.92, for a total value of $503,982.00. Following the completion of the transaction, the vice president now owns 3,350 shares in the company, valued at approximately $1,986,282. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Joseph Scaminace sold 1,751 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $589.73, for a total value of $1,032,617.23. Following the sale, the director now owns 3,900 shares in the company, valued at $2,299,947. The disclosure for this sale can be found here. 1.03% of the stock is currently owned by corporate insiders.

About Parker-Hannifin

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.