Robeco Institutional Asset Management B.V. raised its position in Parker-Hannifin Corp (NYSE:PH) by 52.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 596,840 shares of the industrial products company’s stock after purchasing an additional 205,670 shares during the quarter. Robeco Institutional Asset Management B.V.’s holdings in Parker-Hannifin were worth $102,434,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of PH. Norges Bank acquired a new position in Parker-Hannifin in the 4th quarter valued at about $357,950,000. Longview Partners Guernsey LTD boosted its holdings in Parker-Hannifin by 41.6% in the 4th quarter. Longview Partners Guernsey LTD now owns 5,626,117 shares of the industrial products company’s stock valued at $839,079,000 after purchasing an additional 1,653,011 shares during the last quarter. Pennsylvania Trust Co boosted its holdings in Parker-Hannifin by 29,994.5% in the 1st quarter. Pennsylvania Trust Co now owns 1,625,103 shares of the industrial products company’s stock valued at $117,980,000 after purchasing an additional 1,619,703 shares during the last quarter. BlackRock Inc. boosted its holdings in Parker-Hannifin by 3.7% in the 4th quarter. BlackRock Inc. now owns 8,457,062 shares of the industrial products company’s stock valued at $1,261,286,000 after purchasing an additional 299,331 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in Parker-Hannifin by 18.4% in the 4th quarter. Victory Capital Management Inc. now owns 1,739,098 shares of the industrial products company’s stock valued at $259,369,000 after purchasing an additional 270,202 shares during the last quarter. Institutional investors own 81.42% of the company’s stock.
In related news, Director Candy M. Obourn sold 926 shares of the company’s stock in a transaction that occurred on Thursday, February 7th. The shares were sold at an average price of $162.18, for a total transaction of $150,178.68. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP William R. Bowman sold 875 shares of the company’s stock in a transaction that occurred on Wednesday, February 13th. The stock was sold at an average price of $171.82, for a total transaction of $150,342.50. Following the sale, the vice president now directly owns 450 shares in the company, valued at $77,319. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 10,445 shares of company stock worth $1,814,218. Company insiders own 1.12% of the company’s stock.
Several equities analysts have weighed in on PH shares. Robert W. Baird set a $180.00 target price on shares of Parker-Hannifin and gave the company a “buy” rating in a report on Saturday, February 2nd. Stifel Nicolaus lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating and decreased their target price for the company from $181.00 to $171.00 in a report on Friday, February 1st. Zacks Investment Research lowered shares of Parker-Hannifin from a “hold” rating to a “sell” rating in a report on Wednesday, January 16th. Morgan Stanley set a $172.00 target price on shares of Parker-Hannifin and gave the company a “hold” rating in a report on Saturday, February 2nd. Finally, Barclays boosted their target price on shares of Parker-Hannifin from $178.00 to $186.00 and gave the company an “overweight” rating in a report on Wednesday, April 3rd. Two research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $182.35.
Shares of PH stock opened at $174.31 on Tuesday. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.71. Parker-Hannifin Corp has a one year low of $140.82 and a one year high of $193.19. The company has a market capitalization of $23.27 billion, a PE ratio of 16.73, a P/E/G ratio of 1.69 and a beta of 1.46.
Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $3.17 EPS for the quarter, topping the consensus estimate of $3.01 by $0.16. Parker-Hannifin had a net margin of 10.04% and a return on equity of 26.27%. The firm had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.72 billion. During the same period in the prior year, the business posted $2.80 EPS. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. Equities analysts expect that Parker-Hannifin Corp will post 11.65 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 10th will be issued a $0.88 dividend. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $0.76. This represents a $3.52 annualized dividend and a dividend yield of 2.02%. The ex-dividend date of this dividend is Thursday, May 9th. Parker-Hannifin’s dividend payout ratio is currently 29.17%.
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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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