Nippon Life Global Investors Americas Inc. lessened its stake in Parker-Hannifin Corp (NYSE:PH) by 15.6% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 12,750 shares of the industrial products company’s stock after selling 2,360 shares during the period. Nippon Life Global Investors Americas Inc.’s holdings in Parker-Hannifin were worth $2,232,000 as of its most recent SEC filing.
A number of other hedge funds also recently bought and sold shares of PH. Private Advisor Group LLC grew its holdings in Parker-Hannifin by 58.2% during the 3rd quarter. Private Advisor Group LLC now owns 5,554 shares of the industrial products company’s stock worth $984,000 after acquiring an additional 2,043 shares during the period. Commerzbank Aktiengesellschaft FI grew its holdings in Parker-Hannifin by 392.6% during the 3rd quarter. Commerzbank Aktiengesellschaft FI now owns 9,084 shares of the industrial products company’s stock worth $1,590,000 after acquiring an additional 7,240 shares during the period. MUFG Americas Holdings Corp grew its holdings in Parker-Hannifin by 17.1% during the 3rd quarter. MUFG Americas Holdings Corp now owns 13,801 shares of the industrial products company’s stock worth $2,415,000 after acquiring an additional 2,011 shares during the period. Hartford Investment Management Co. grew its holdings in Parker-Hannifin by 4.3% during the 3rd quarter. Hartford Investment Management Co. now owns 30,022 shares of the industrial products company’s stock worth $5,254,000 after acquiring an additional 1,239 shares during the period. Finally, Tiedemann Wealth Management LLC grew its holdings in Parker-Hannifin by 95.6% during the 3rd quarter. Tiedemann Wealth Management LLC now owns 3,050 shares of the industrial products company’s stock worth $201,000 after acquiring an additional 1,491 shares during the period. Hedge funds and other institutional investors own 78.24% of the company’s stock.
Shares of Parker-Hannifin Corp (PH) traded down $1.20 during midday trading on Tuesday, reaching $185.85. 757,200 shares of the company were exchanged, compared to its average volume of 994,018. The firm has a market cap of $24,760.00, a price-to-earnings ratio of 21.48, a PEG ratio of 1.68 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 Corp has a 12-month low of $139.49 and a 12-month high of $190.00.
Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, November 2nd. The industrial products company reported $2.24 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.02 by $0.22. The firm had revenue of $3.36 billion during the quarter, compared to analyst estimates of $3.31 billion. Parker-Hannifin had a net margin of 8.37% and a return on equity of 23.61%. The company’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same period in the prior year, the business earned $1.61 EPS. analysts expect that Parker-Hannifin Corp will post 9.56 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 10th were paid a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date of this dividend was Thursday, November 9th. Parker-Hannifin’s payout ratio is presently 33.89%.
In other Parker-Hannifin news, VP Martin C. Maxwell sold 2,640 shares of the business’s stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $165.67, for a total transaction of $437,368.80. Following the sale, the vice president now directly owns 31,718 shares of the company’s stock, valued at approximately $5,254,721.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, VP Joseph R. Leonti sold 408 shares of the business’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $160.70, for a total transaction of $65,565.60. Following the sale, the vice president now directly owns 7,318 shares in the company, valued at $1,176,002.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 24,728 shares of company stock valued at $4,436,207. Company insiders own 1.12% of the company’s stock.
Several equities analysts have recently issued reports on the stock. Jefferies Group reissued a “hold” rating and issued a $165.00 price target (up previously from $163.00) on shares of Parker-Hannifin in a report on Wednesday, August 9th. Zacks Investment Research lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. BidaskClub lowered shares of Parker-Hannifin from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. ValuEngine lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Friday. Finally, Citigroup boosted their price target on shares of Parker-Hannifin from $175.00 to $185.00 and gave the company a “neutral” rating in a report on Friday, October 13th. One analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $188.95.
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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