Scotia Capital Inc. boosted its stake in shares of Parker-Hannifin Corp (NYSE:PH) by 11.7% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,804 shares of the industrial products company’s stock after purchasing an additional 504 shares during the quarter. Scotia Capital Inc.’s holdings in Parker-Hannifin were worth $959,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other hedge funds also recently modified their holdings of the company. Stratos Wealth Partners LTD. raised its stake in shares of Parker-Hannifin by 5.5% during the 3rd quarter. Stratos Wealth Partners LTD. now owns 5,407 shares of the industrial products company’s stock worth $946,000 after buying an additional 280 shares in the last quarter. Bank of Stockton grew its holdings in Parker-Hannifin by 3.3% during the 3rd quarter. Bank of Stockton now owns 8,763 shares of the industrial products company’s stock valued at $1,533,000 after buying an additional 281 shares during the last quarter. Sentry Investment Management LLC grew its holdings in Parker-Hannifin by 0.8% during the 4th quarter. Sentry Investment Management LLC now owns 34,739 shares of the industrial products company’s stock valued at $6,933,000 after buying an additional 282 shares during the last quarter. QCI Asset Management Inc. NY grew its holdings in Parker-Hannifin by 0.4% during the 3rd quarter. QCI Asset Management Inc. NY now owns 79,660 shares of the industrial products company’s stock valued at $13,942,000 after buying an additional 297 shares during the last quarter. Finally, Pacer Advisors Inc. grew its holdings in Parker-Hannifin by 10.1% during the 3rd quarter. Pacer Advisors Inc. now owns 3,412 shares of the industrial products company’s stock valued at $597,000 after buying an additional 312 shares during the last quarter. 81.67% of the stock is currently owned by institutional investors.
PH stock traded up $2.63 during trading hours on Friday, reaching $182.71. The company’s stock had a trading volume of 1,168,410 shares, compared to its average volume of 966,527. Parker-Hannifin Corp has a one year low of $151.17 and a one year high of $212.80. The stock has a market capitalization of $24,309.20, a price-to-earnings ratio of 28.50, a PEG ratio of 1.58 and a beta of 1.38. The company has a quick ratio of 0.99, a current ratio of 1.49 and a debt-to-equity ratio of 0.87.
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, topping the Zacks’ consensus estimate of $2.07 by $0.08. Parker-Hannifin had a return on equity of 23.15% and a net margin of 6.54%. The business had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same period in the previous year, the company earned $1.91 earnings per share. The company’s revenue for the quarter was up 26.2% compared to the same quarter last year. research analysts predict that Parker-Hannifin Corp will post 9.97 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, March 2nd. Stockholders of record on Friday, February 9th were given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date was Thursday, February 8th. Parker-Hannifin’s payout ratio is 41.19%.
A number of brokerages have commented on PH. Wells Fargo reiterated a “hold” rating and set a $200.00 target price (down previously from $235.00) on shares of Parker-Hannifin in a report on Thursday, March 8th. Robert W. Baird upgraded Parker-Hannifin from a “neutral” rating to an “outperform” rating and set a $203.00 target price on the stock in a report on Thursday, March 8th. Jefferies Group reiterated a “hold” rating and issued a $200.00 target price on shares of Parker-Hannifin in a report on Wednesday, March 7th. Zacks Investment Research cut Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Finally, Citigroup lifted their target price on Parker-Hannifin from $195.00 to $220.00 and gave the company a “neutral” rating in a report on Tuesday, January 30th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the stock. Parker-Hannifin currently has an average rating of “Hold” and an average price target of $202.75.
In other news, Director Joseph Scaminace sold 1,000 shares of Parker-Hannifin stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $184.97, for a total transaction of $184,970.00. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Roger S. Sherrard sold 2,109 shares of the business’s stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $182.12, for a total value of $384,091.08. Following the completion of the sale, the vice president now directly owns 51,865 shares of the company’s stock, valued at $9,445,653.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 4,258 shares of company stock worth $780,753. Corporate insiders own 1.12% of the company’s stock.
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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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