Novare Capital Management LLC acquired a new position in Parker-Hannifin Corporation (NYSE:PH) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,750 shares of the industrial products company’s stock, valued at approximately $1,356,000.
Other institutional investors have also added to or reduced their stakes in the company. Emerald Advisers Inc. PA acquired a new stake in shares of Parker-Hannifin Corporation in the third quarter worth $1,527,000. Tredje AP fonden increased its position in shares of Parker-Hannifin Corporation by 146.9% in the second quarter. Tredje AP fonden now owns 13,578 shares of the industrial products company’s stock worth $2,170,000 after acquiring an additional 8,078 shares in the last quarter. Koch Industries Inc. acquired a new stake in Parker-Hannifin Corporation during the 2nd quarter valued at $521,000. Sand Hill Global Advisors LLC acquired a new stake in Parker-Hannifin Corporation during the 2nd quarter valued at $4,194,000. Finally, Chicago Equity Partners LLC grew its holdings in Parker-Hannifin Corporation by 4.6% during the 2nd quarter. Chicago Equity Partners LLC now owns 66,375 shares of the industrial products company’s stock valued at $10,608,000 after purchasing an additional 2,930 shares in the last quarter. 77.73% of the stock is owned by institutional investors.
A number of equities research analysts recently weighed in on PH shares. Stifel Nicolaus set a $198.00 price target on shares of Parker-Hannifin Corporation and gave the company a “buy” rating in a report on Friday, August 4th. ValuEngine raised shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Zacks Investment Research raised shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating and set a $198.00 price target for the company in a report on Tuesday, October 10th. KeyCorp reaffirmed a “buy” rating and set a $200.00 price target on shares of Parker-Hannifin Corporation in a report on Thursday, October 12th. Finally, Buckingham Research started coverage on shares of Parker-Hannifin Corporation in a research note on Tuesday, October 17th. They set a “buy” rating and a $205.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $188.37.
Parker-Hannifin Corporation (PH) traded down $0.27 during trading on Friday, reaching $182.03. 287,917 shares of the company’s stock traded hands, compared to its average volume of 693,370. The firm has a market cap of $24,250.00, a PE ratio of 20.64, a price-to-earnings-growth ratio of 1.62 and a beta of 1.40. 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 has a 52-week low of $134.03 and a 52-week high of $189.83.
Parker-Hannifin Corporation (NYSE:PH) last released its earnings results on Thursday, November 2nd. The industrial products company reported $2.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.02 by $0.22. The firm 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%. Parker-Hannifin Corporation’s quarterly revenue was up 22.7% on a year-over-year basis. During the same quarter last year, the company earned $1.61 EPS. equities research analysts anticipate that Parker-Hannifin Corporation will post 9.55 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 10th will be paid a dividend of $0.66 per share. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $2.64 annualized dividend and a yield of 1.45%. Parker-Hannifin Corporation’s payout ratio is 33.89%.
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In other news, COO Lee C. Banks sold 5,286 shares of Parker-Hannifin Corporation stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $186.38, for a total value of $985,204.68. Following the transaction, the chief operating officer now owns 112,808 shares of the company’s stock, valued at approximately $21,025,155.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Candy M. Obourn sold 1,241 shares of Parker-Hannifin Corporation stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $161.46, for a total transaction of $200,371.86. The disclosure for this sale can be found here. Insiders sold a total of 16,820 shares of company stock worth $2,969,364 in the last ninety days. Corporate insiders own 1.12% of the company’s stock.
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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