Gateway Investment Advisers LLC reduced its position in shares of Parker-Hannifin Corp (NYSE:PH) by 21.4% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 138,837 shares of the industrial products company’s stock after selling 37,698 shares during the period. Gateway Investment Advisers LLC owned 0.10% of Parker-Hannifin worth $27,709,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently bought and sold shares of PH. IHT Wealth Management LLC boosted its holdings in Parker-Hannifin by 20.8% in the 2nd quarter. IHT Wealth Management LLC now owns 116 shares of the industrial products company’s stock valued at $119,000 after purchasing an additional 20 shares during the period. BT Investment Management Ltd acquired a new stake in shares of Parker-Hannifin during the 2nd quarter worth about $124,000. Sun Life Financial INC increased its position in shares of Parker-Hannifin by 8,108.3% during the 2nd quarter. Sun Life Financial INC now owns 985 shares of the industrial products company’s stock worth $157,000 after purchasing an additional 973 shares in the last quarter. Americafirst Capital Management LLC acquired a new stake in shares of Parker-Hannifin during the 2nd quarter worth about $167,000. Finally, Steward Partners Investment Advisory LLC acquired a new stake in shares of Parker-Hannifin during the 3rd quarter worth about $168,000. 78.39% of the stock is owned by institutional investors and hedge funds.
In related news, Director Linda S. Harty sold 3,491 shares of the company’s stock in a transaction that occurred on Monday, November 20th. The stock was sold at an average price of $183.30, for a total value of $639,900.30. Following the sale, the director now directly owns 9,727 shares in the company, valued at $1,782,959.10. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Robert W. Bond sold 5,517 shares of the company’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $181.72, for a total value of $1,002,549.24. Following the completion of the sale, the vice president now owns 28,265 shares in the company, valued at $5,136,315.80. The disclosure for this sale can be found here. Insiders have sold 16,343 shares of company stock valued at $2,982,800 in the last ninety days. 1.12% of the stock is currently owned by company insiders.
Several equities research analysts have weighed in on the stock. Stifel Nicolaus restated a “buy” rating and issued a $245.00 price objective (up previously from $218.00) on shares of Parker-Hannifin in a research report on Tuesday, January 16th. Zacks Investment Research lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Tuesday, October 17th. ValuEngine lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Credit Suisse Group lifted their price objective on shares of Parker-Hannifin from $205.00 to $206.00 and gave the stock an “outperform” rating in a research note on Friday, November 3rd. Finally, Buckingham Research raised their target price on shares of Parker-Hannifin from $205.00 to $210.00 and gave the stock a “buy” rating in a report on Friday, November 3rd. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company. Parker-Hannifin has a consensus rating of “Hold” and an average price target of $200.83.
Parker-Hannifin Corp (PH) traded up $2.38 during mid-day trading on Friday, reaching $176.89. 2,086,443 shares of the company’s stock were exchanged, compared to its average volume of 1,130,000. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.99 and a current ratio of 1.49. Parker-Hannifin Corp has a 1 year low of $147.37 and a 1 year high of $212.80. The company has a market capitalization of $23,570.00, a PE ratio of 27.51, a price-to-earnings-growth ratio of 1.58 and a beta of 1.31.
Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, February 1st. The industrial products company reported $2.15 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.07 by $0.08. The company had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $3.33 billion. Parker-Hannifin had a net margin of 6.54% and a return on equity of 23.15%. Parker-Hannifin’s quarterly revenue was up 26.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.91 earnings per share. research analysts expect that Parker-Hannifin Corp will post 9.95 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Friday, February 9th will be given a dividend of $0.66 per share. The ex-dividend date is Thursday, February 8th. This represents a $2.64 annualized dividend and a yield of 1.49%. Parker-Hannifin’s dividend payout ratio is 41.06%.
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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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