Ashfield Capital Partners LLC cut its holdings in Parker-Hannifin Corporation (NYSE:PH) by 9.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 20,871 shares of the industrial products company’s stock after selling 2,115 shares during the period. Ashfield Capital Partners LLC’s holdings in Parker-Hannifin Corporation were worth $3,653,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. British Airways Pensions Investment Management Ltd bought a new position in Parker-Hannifin Corporation in the 3rd quarter valued at $26,257,000. Cambridge Investment Research Advisors Inc. boosted its holdings in Parker-Hannifin Corporation by 13.0% in the 3rd quarter. Cambridge Investment Research Advisors Inc. now owns 3,753 shares of the industrial products company’s stock valued at $657,000 after purchasing an additional 433 shares during the period. Stratos Wealth Partners LTD. boosted its holdings in Parker-Hannifin Corporation by 5.5% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 5,407 shares of the industrial products company’s stock valued at $946,000 after purchasing an additional 280 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its holdings in Parker-Hannifin Corporation by 6.0% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 35,322 shares of the industrial products company’s stock valued at $6,182,000 after purchasing an additional 2,006 shares during the period. Finally, Comerica Bank boosted its holdings in Parker-Hannifin Corporation by 6.7% in the 3rd quarter. Comerica Bank now owns 54,728 shares of the industrial products company’s stock valued at $9,957,000 after purchasing an additional 3,455 shares during the period. 77.73% of the stock is owned by institutional investors.
Shares of Parker-Hannifin Corporation (NYSE PH) traded up $0.06 during trading hours on Thursday, reaching $179.73. 982,000 shares of the company were exchanged, compared to its average volume of 1,015,432. The stock has a market cap of $24,140.00, a PE ratio of 20.63, a PEG ratio of 1.62 and a beta of 1.40. Parker-Hannifin Corporation has a one year low of $134.03 and a one year high of $189.83. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.95 and a current ratio of 1.44.
Parker-Hannifin Corporation (NYSE:PH) last issued its earnings results on Thursday, November 2nd. The industrial products company reported $2.24 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.22. The company had revenue of $3.36 billion for the quarter, compared to analysts’ expectations of $3.31 billion. Parker-Hannifin Corporation had a net margin of 8.37% and a return on equity of 23.61%. The firm’s revenue was up 22.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.61 EPS. equities research analysts predict that Parker-Hannifin Corporation will post 9.55 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 10th will be given a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date is Thursday, November 9th. Parker-Hannifin Corporation’s payout ratio is presently 33.89%.
Several research analysts have commented on the stock. Morgan Stanley downgraded shares of Parker-Hannifin Corporation from an “overweight” rating to an “equal weight” rating and set a $188.00 price target for the company. in a report on Monday, October 2nd. KeyCorp reissued an “overweight” rating and issued a $185.00 price target on shares of Parker-Hannifin Corporation in a report on Saturday, September 16th. Zacks Investment Research downgraded shares of Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Buckingham Research raised their price target on shares of Parker-Hannifin Corporation from $205.00 to $210.00 and gave the company a “buy” rating in a report on Friday, November 3rd. Finally, Credit Suisse Group raised their price target on shares of Parker-Hannifin Corporation from $205.00 to $206.00 and gave the company an “outperform” rating in a report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $188.37.
In other Parker-Hannifin Corporation news, Director Joseph Scaminace sold 500 shares of the business’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $158.35, for a total value of $79,175.00. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Lee C. Banks sold 5,286 shares of the business’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $186.38, for a total transaction of $985,204.68. Following the completion of the transaction, the chief operating officer now owns 112,808 shares in the company, valued at approximately $21,025,155.04. The disclosure for this sale can be found here. In the last quarter, insiders sold 11,541 shares of company stock worth $2,024,054. 1.12% of the stock is owned by corporate insiders.
About Parker-Hannifin Corporation
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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