Rothschild Asset Management Inc. lessened its stake in Parker-Hannifin Corporation (NYSE:PH) by 3.4% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 448,870 shares of the industrial products company’s stock after selling 16,024 shares during the quarter. Parker-Hannifin Corporation accounts for about 0.9% of Rothschild Asset Management Inc.’s portfolio, making the stock its 13th largest holding. Rothschild Asset Management Inc. owned about 0.34% of Parker-Hannifin Corporation worth $78,561,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently modified their holdings of PH. LS Investment Advisors LLC lifted its holdings in shares of Parker-Hannifin Corporation by 2.9% in the 2nd quarter. LS Investment Advisors LLC now owns 4,094 shares of the industrial products company’s stock valued at $654,000 after buying an additional 114 shares during the period. Louisiana State Employees Retirement System lifted its holdings in shares of Parker-Hannifin Corporation by 1.2% in the 2nd quarter. Louisiana State Employees Retirement System now owns 8,300 shares of the industrial products company’s stock valued at $1,327,000 after buying an additional 100 shares during the period. BTIM Corp. lifted its holdings in shares of Parker-Hannifin Corporation by 61.9% in the 2nd quarter. BTIM Corp. now owns 3,925 shares of the industrial products company’s stock valued at $627,000 after buying an additional 1,500 shares during the period. Oakbrook Investments LLC raised its holdings in Parker-Hannifin Corporation by 251.6% in the 2nd quarter. Oakbrook Investments LLC now owns 8,000 shares of the industrial products company’s stock worth $1,279,000 after purchasing an additional 5,725 shares during the period. Finally, First Citizens Bank & Trust Co. acquired a new position in Parker-Hannifin Corporation in the 2nd quarter worth about $377,000. 78.35% of the stock is owned by institutional investors and hedge funds.
A number of research firms recently weighed in on PH. BidaskClub cut Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Deutsche Bank AG upped their price target on Parker-Hannifin Corporation to $200.00 and gave the stock a “buy” rating in a report on Monday. Stifel Nicolaus set a $198.00 price target on Parker-Hannifin Corporation and gave the stock a “buy” rating in a report on Friday, August 4th. Robert W. Baird set a $163.00 price target on Parker-Hannifin Corporation and gave the stock a “hold” rating in a report on Thursday, August 24th. Finally, Zacks Investment Research cut Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. One analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $188.95.
In related news, VP Thomas C. Gentile sold 326 shares of the 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Robert W. Malone sold 540 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $186.37, for a total value of $100,639.80. The disclosure for this sale can be found here. Insiders sold 22,337 shares of company stock valued at $3,971,914 over the last 90 days. Company insiders own 1.12% of the company’s stock.
Parker-Hannifin Corporation (NYSE:PH) traded up $0.04 during mid-day trading on Monday, hitting $182.34. The stock had a trading volume of 641,200 shares, compared to its average volume of 1,013,009. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 0.87. The stock has a market capitalization of $24,290.00, a price-to-earnings ratio of 20.93, a PEG ratio of 1.64 and a beta of 1.40. Parker-Hannifin Corporation has a 1-year low of $134.03 and a 1-year high of $189.83.
Parker-Hannifin Corporation (NYSE:PH) last posted its quarterly earnings results on Thursday, November 2nd. The industrial products company reported $2.24 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.02 by $0.22. The business had revenue of $3.36 billion during the quarter, compared to analyst estimates of $3.31 billion. Parker-Hannifin Corporation had a return on equity of 23.61% and a net margin of 8.37%. The business’s revenue was up 22.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.61 earnings per share. equities research analysts forecast that Parker-Hannifin Corporation will post 9.57 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 10th will be given a $0.66 dividend. The ex-dividend date is Thursday, November 9th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.45%. Parker-Hannifin Corporation’s dividend payout ratio (DPR) is presently 33.89%.
Parker-Hannifin Corporation 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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