Dean Investment Associates LLC cut its position in shares of Parker-Hannifin Corp (NYSE:PH) by 83.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,578 shares of the industrial products company’s stock after selling 23,917 shares during the period. Dean Investment Associates LLC’s holdings in Parker-Hannifin were worth $801,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of PH. Israel Discount Bank of New York increased its holdings in shares of Parker-Hannifin by 31.6% during the 2nd quarter. Israel Discount Bank of New York now owns 625 shares of the industrial products company’s stock valued at $100,000 after acquiring an additional 150 shares during the last quarter. Parallel Advisors LLC increased its holdings in shares of Parker-Hannifin by 4.1% during the 2nd quarter. Parallel Advisors LLC now owns 612 shares of the industrial products company’s stock valued at $102,000 after acquiring an additional 24 shares during the last quarter. IHT Wealth Management LLC increased its holdings in shares of Parker-Hannifin by 20.8% during the 2nd quarter. IHT Wealth Management LLC now owns 116 shares of the industrial products company’s stock valued at $119,000 after acquiring an additional 20 shares during the last quarter. BT Investment Management Ltd acquired a new position in shares of Parker-Hannifin during the 2nd quarter valued at about $124,000. Finally, Sun Life Financial INC increased its holdings in shares of Parker-Hannifin by 8,108.3% during the 2nd quarter. Sun Life Financial INC now owns 985 shares of the industrial products company’s stock valued at $157,000 after acquiring an additional 973 shares during the last quarter. 78.24% of the stock is owned by institutional investors.
In other news, VP Robert W. Malone sold 540 shares of Parker-Hannifin stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $186.37, for a total transaction of $100,639.80. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Thomas C. Gentile sold 326 shares of Parker-Hannifin stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $181.89, for a total value of $59,296.14. The disclosure for this sale can be found here. Insiders have sold a total of 22,495 shares of company stock worth $4,127,941 in the last three months. 1.12% of the stock is owned by insiders.
PH has been the topic of a number of analyst reports. Credit Suisse Group increased their price objective on Parker-Hannifin from $205.00 to $206.00 and gave the company an “outperform” rating in a report on Friday, November 3rd. Deutsche Bank increased their price objective on Parker-Hannifin to $200.00 and gave the company a “buy” rating in a report on Monday, November 20th. Stifel Nicolaus reissued a “buy” rating and set a $210.00 price objective on shares of Parker-Hannifin in a report on Friday, November 3rd. ValuEngine raised Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Finally, BMO Capital Markets reissued a “buy” rating and set a $200.00 price objective on shares of Parker-Hannifin in a report on Friday, October 20th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock presently has a consensus rating of “Buy” and an average price target of $188.95.
Parker-Hannifin Corp (NYSE PH) traded down $3.01 on Friday, reaching $191.70. The company’s stock had a trading volume of 753,600 shares, compared to its average volume of 989,850. The firm has a market cap of $25,940.45, a price-to-earnings ratio of 22.35, a P/E/G ratio of 1.75 and a beta of 1.40. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.44 and a quick ratio of 0.95. Parker-Hannifin Corp has a 12-month low of $139.49 and a 12-month high of $195.82.
Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, November 2nd. The industrial products company reported $2.24 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.02 by $0.22. The firm had revenue of $3.36 billion for the quarter, compared to analyst estimates of $3.31 billion. Parker-Hannifin had a return on equity of 23.61% and a net margin of 8.37%. The company’s revenue was up 22.7% on a year-over-year basis. During the same quarter last year, the firm posted $1.61 EPS. equities research analysts expect that Parker-Hannifin Corp will post 9.56 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 10th were issued a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend was Thursday, November 9th. Parker-Hannifin’s payout ratio is presently 33.93%.
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Parker-Hannifin Company Profile
Parker-Hannifin Corporation is a manufacturer of motion and control technologies and systems, providing precision engineered solutions for a range of mobile, industrial and aerospace markets. The Company operates through segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial Segment is an aggregation of several business units, which manufacture motion-control and fluid power system components for builders and users of various types of manufacturing, packaging, processing, transportation, agricultural, construction, and military vehicles and equipment.
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