SRB Corp reduced its position in Parker-Hannifin Corp (NYSE:PH) by 25.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 3,055 shares of the industrial products company’s stock after selling 1,050 shares during the period. SRB Corp’s holdings in Parker-Hannifin were worth $519,000 at the end of the most recent quarter.
Other institutional investors have also recently bought and sold shares of the company. Ibex Wealth Advisors purchased a new stake in shares of Parker-Hannifin in the 2nd quarter valued at about $27,000. Trustcore Financial Services LLC purchased a new stake in shares of Parker-Hannifin in the 1st quarter valued at about $34,000. TRUE Private Wealth Advisors acquired a new position in Parker-Hannifin in the 2nd quarter valued at about $34,000. HMS Capital Management LLC acquired a new position in Parker-Hannifin in the 2nd quarter valued at about $36,000. Finally, Destination Wealth Management increased its position in Parker-Hannifin by 254.3% in the 2nd quarter. Destination Wealth Management now owns 248 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 178 shares during the period. 82.64% of the stock is owned by institutional investors and hedge funds.
Several equities analysts recently issued reports on PH shares. Bank of America cut Parker-Hannifin from a “buy” rating to a “neutral” rating in a research report on Friday, July 12th. Goldman Sachs Group cut Parker-Hannifin from a “neutral” rating to a “sell” rating and dropped their price target for the company from $178.00 to $150.00 in a research report on Tuesday, July 16th. JPMorgan Chase & Co. cut Parker-Hannifin from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $186.00 to $169.00 in a research report on Wednesday, July 10th. Morgan Stanley boosted their price target on Parker-Hannifin from $173.00 to $177.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. Finally, Stifel Nicolaus boosted their price target on Parker-Hannifin from $164.00 to $176.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. Parker-Hannifin has a consensus rating of “Hold” and an average price target of $176.55.
NYSE PH traded down $3.05 on Monday, hitting $179.18. 755,129 shares of the company’s stock were exchanged, compared to its average volume of 681,388. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.43 and a quick ratio of 1.90. The firm’s 50-day moving average price is $167.36 and its two-hundred day moving average price is $170.50. Parker-Hannifin Corp has a fifty-two week low of $140.82 and a fifty-two week high of $193.19. The firm has a market cap of $23.33 billion, a price-to-earnings ratio of 15.12, a P/E/G ratio of 1.66 and a beta of 1.56.
Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, August 1st. The industrial products company reported $3.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $3.09 by $0.22. Parker-Hannifin had a return on equity of 26.11% and a net margin of 10.56%. The company had revenue of $3.68 billion for the quarter, compared to analysts’ expectations of $3.69 billion. During the same quarter in the previous year, the firm posted $3.22 EPS. The firm’s quarterly revenue was down 3.6% on a year-over-year basis. On average, research analysts predict that Parker-Hannifin Corp will post 11.95 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Wednesday, August 28th were given a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend was Tuesday, August 27th. Parker-Hannifin’s payout ratio is 29.70%.
In other Parker-Hannifin news, Director Linda S. Harty bought 3,000 shares of the company’s stock in a transaction on Monday, August 26th. The shares were bought at an average price of $158.39 per share, for a total transaction of $475,170.00. Following the transaction, the director now owns 13,243 shares of the company’s stock, valued at approximately $2,097,558.77. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Mark J. Hart sold 2,250 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $183.35, for a total value of $412,537.50. Following the transaction, the executive vice president now owns 10,849 shares in the company, valued at approximately $1,989,164.15. The disclosure for this sale can be found here. Insiders have sold a total of 59,234 shares of company stock worth $10,722,479 in the last quarter. 1.12% of the stock is currently owned by insiders.
Parker-Hannifin Company Profile
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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