Commerzbank Aktiengesellschaft FI grew its stake in Parker-Hannifin Corp (NYSE:PH) by 392.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 9,084 shares of the industrial products company’s stock after acquiring an additional 7,240 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Parker-Hannifin were worth $1,590,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in shares of Parker-Hannifin by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 8,746,514 shares of the industrial products company’s stock worth $1,397,867,000 after buying an additional 90,732 shares during the period. BlackRock Inc. grew its position in shares of Parker-Hannifin by 3.6% during the 2nd quarter. BlackRock Inc. now owns 8,464,358 shares of the industrial products company’s stock worth $1,352,775,000 after buying an additional 298,047 shares during the period. Jennison Associates LLC grew its position in shares of Parker-Hannifin by 28.5% during the 2nd quarter. Jennison Associates LLC now owns 6,026,440 shares of the industrial products company’s stock worth $963,146,000 after buying an additional 1,336,541 shares during the period. Longview Partners Guernsey LTD grew its position in shares of Parker-Hannifin by 5.4% during the 3rd quarter. Longview Partners Guernsey LTD now owns 5,413,458 shares of the industrial products company’s stock worth $947,463,000 after buying an additional 278,500 shares during the period. Finally, TIAA CREF Investment Management LLC grew its position in shares of Parker-Hannifin by 10.2% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 2,104,347 shares of the industrial products company’s stock worth $336,317,000 after buying an additional 194,858 shares during the period. 78.24% of the stock is owned by institutional investors.
Parker-Hannifin Corp (PH) traded up $2.02 during trading on Thursday, hitting $186.33. 960,200 shares of the stock traded hands, compared to its average volume of 992,697. The firm has a market capitalization of $24,554.90, a PE ratio of 21.16, a PEG ratio of 1.66 and a beta of 1.40. Parker-Hannifin Corp has a 12 month low of $139.49 and a 12 month high of $190.00. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.44 and a quick ratio of 0.95.
Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, November 2nd. The industrial products company reported $2.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.02 by $0.22. The company had revenue of $3.36 billion during the quarter, compared to analysts’ expectations of $3.31 billion. Parker-Hannifin had a net margin of 8.37% and a return on equity of 23.61%. The business’s quarterly revenue was up 22.7% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.61 earnings per share. equities research analysts forecast that Parker-Hannifin Corp will post 9.56 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 10th were issued a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend was Thursday, November 9th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 33.93%.
Several equities research analysts have recently commented on the stock. Robert W. Baird set a $163.00 price target on shares of Parker-Hannifin and gave the stock a “hold” rating in a research report on Thursday, August 24th. BidaskClub cut shares of Parker-Hannifin from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. ValuEngine cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. Citigroup boosted their price objective 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. Finally, KeyCorp restated a “buy” rating and set a $200.00 price objective on shares of Parker-Hannifin in a report on Thursday, October 12th. 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 stock. The stock presently has an average rating of “Buy” and a consensus target price of $188.95.
In other news, Director Linda S. Harty sold 3,491 shares of the business’s stock in a transaction on Monday, November 20th. The shares were sold at an average price of $183.30, for a total value of $639,900.30. Following the sale, the director now owns 9,727 shares of the company’s stock, valued at $1,782,959.10. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Thomas C. Gentile sold 326 shares of the business’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $181.89, for a total transaction of $59,296.14. The disclosure for this sale can be found here. Insiders sold 24,320 shares of company stock valued at $4,370,641 in the last quarter. Corporate insiders own 1.12% of the company’s stock.
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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