AMP Capital Investors Ltd increased its stake in shares of Parker-Hannifin Corp (NYSE:PH) by 4.2% during the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 47,325 shares of the industrial products company’s stock after buying an additional 1,911 shares during the quarter. AMP Capital Investors Ltd’s holdings in Parker-Hannifin were worth $7,376,000 at the end of the most recent reporting period.
Other institutional investors also recently made changes to their positions in the company. OppenheimerFunds Inc. raised its position in Parker-Hannifin by 20.6% in the second quarter. OppenheimerFunds Inc. now owns 362,215 shares of the industrial products company’s stock valued at $56,451,000 after purchasing an additional 61,871 shares during the period. Sustainable Insight Capital Management LLC raised its position in Parker-Hannifin by 11.4% in the second quarter. Sustainable Insight Capital Management LLC now owns 73,436 shares of the industrial products company’s stock valued at $11,445,000 after purchasing an additional 7,536 shares during the period. Baird Financial Group Inc. acquired a new stake in shares of Parker-Hannifin in the second quarter valued at $2,858,000. Bridgewater Associates LP acquired a new stake in shares of Parker-Hannifin in the second quarter valued at $2,939,000. Finally, Peak Capital Management LLC acquired a new stake in shares of Parker-Hannifin in the second quarter valued at $762,000. Hedge funds and other institutional investors own 79.53% of the company’s stock.
In other news, VP William R. Bowman sold 2,400 shares of the company’s stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $175.36, for a total transaction of $420,864.00. Following the completion of the transaction, the vice president now directly owns 1,325 shares of the company’s stock, valued at approximately $232,352. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, VP Joseph R. Leonti sold 1,605 shares of the company’s stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $176.56, for a total value of $283,378.80. Following the transaction, the vice president now directly owns 15,731 shares of the company’s stock, valued at $2,777,465.36. The disclosure for this sale can be found here. Corporate insiders own 1.12% of the company’s stock.
PH traded down $2.60 on Friday, hitting $182.37. 883,309 shares of the company were exchanged, compared to its average volume of 1,139,236. Parker-Hannifin Corp has a twelve month low of $152.47 and a twelve month high of $212.80. The stock has a market capitalization of $24.36 billion, a price-to-earnings ratio of 17.50, a PEG ratio of 1.43 and a beta of 1.41. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.59 and a quick ratio of 1.08.
Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, August 2nd. The industrial products company reported $3.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.91 by $0.31. The firm had revenue of $3.82 billion during the quarter, compared to analysts’ expectations of $3.83 billion. Parker-Hannifin had a return on equity of 24.77% and a net margin of 7.42%. Parker-Hannifin’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same period in the previous year, the firm posted $2.45 EPS. On average, research analysts anticipate that Parker-Hannifin Corp will post 11.43 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 14th. Stockholders of record on Tuesday, August 28th were given a dividend of $0.76 per share. The ex-dividend date was Monday, August 27th. This represents a $3.04 annualized dividend and a dividend yield of 1.67%. Parker-Hannifin’s dividend payout ratio is currently 29.17%.
A number of equities research analysts have recently weighed in on PH shares. Cowen reaffirmed a “hold” rating and issued a $165.00 price objective on shares of Parker-Hannifin in a research note on Friday, July 20th. Goldman Sachs Group cut Parker-Hannifin from a “buy” rating to a “neutral” rating and set a $164.00 price objective for the company. in a research note on Monday, July 16th. Morgan Stanley started coverage on Parker-Hannifin in a research note on Monday, August 20th. They issued an “equal weight” rating and a $185.00 price objective for the company. Wolfe Research started coverage on Parker-Hannifin in a research note on Wednesday, June 27th. They issued a “market perform” rating for the company. Finally, Evercore ISI raised Parker-Hannifin from an “in-line” rating to an “outperform” rating in a research note on Monday, August 6th. Eleven analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $189.89.
Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates in two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment provides static and dynamic sealing devices; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; hydraulic, pneumatic, and electromechanical components and systems for builders and users of industrial and mobile machinery and equipment; and critical flow components for process instrumentation, healthcare, and ultra-high-purity applications, as well as components for use in refrigeration and air conditioning systems, and in fluid control applications for processing, fuel dispensing, beverage dispensing, and mobile emissions.
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