Glenmede Trust Co. NA lowered its stake in shares of Parker-Hannifin Corp (NYSE:PH) by 0.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 181,140 shares of the industrial products company’s stock after selling 871 shares during the period. Glenmede Trust Co. NA owned about 0.14% of Parker-Hannifin worth $28,231,000 as of its most recent SEC filing.
Other large investors also recently modified their holdings of the company. Marble Harbor Investment Counsel LLC lifted its stake in shares of Parker-Hannifin by 2.7% in the 1st quarter. Marble Harbor Investment Counsel LLC now owns 12,005 shares of the industrial products company’s stock valued at $2,053,000 after purchasing an additional 312 shares during the last quarter. Bbva Compass Bancshares Inc. lifted its stake in shares of Parker-Hannifin by 1.0% in the 2nd quarter. Bbva Compass Bancshares Inc. now owns 31,180 shares of the industrial products company’s stock valued at $4,859,000 after purchasing an additional 318 shares during the last quarter. Cambria Investment Management L.P. lifted its stake in shares of Parker-Hannifin by 2.7% in the 1st quarter. Cambria Investment Management L.P. now owns 12,298 shares of the industrial products company’s stock valued at $2,103,000 after purchasing an additional 320 shares during the last quarter. MUFG Americas Holdings Corp lifted its stake in shares of Parker-Hannifin by 1.5% in the 2nd quarter. MUFG Americas Holdings Corp now owns 22,152 shares of the industrial products company’s stock valued at $3,452,000 after purchasing an additional 326 shares during the last quarter. Finally, Riverhead Capital Management LLC lifted its position in Parker-Hannifin by 6.3% during the 2nd quarter. Riverhead Capital Management LLC now owns 5,697 shares of the industrial products company’s stock worth $888,000 after acquiring an additional 338 shares during the last quarter. 79.53% of the stock is owned by institutional investors.
PH has been the subject of a number of research analyst reports. Jefferies Financial Group reissued a “$162.10” rating and set a $170.00 target price on shares of Parker-Hannifin in a research report on Wednesday, July 18th. BMO Capital Markets reissued a “buy” rating and set a $190.00 target price on shares of Parker-Hannifin in a research report on Thursday, July 19th. Robert W. Baird set a $190.00 target price on shares of Parker-Hannifin and gave the stock a “buy” rating in a research report on Thursday, August 2nd. Buckingham Research raised shares of Parker-Hannifin from a “neutral” rating to a “buy” rating in a research report on Friday, September 14th. Finally, Stifel Nicolaus boosted their target price on shares of Parker-Hannifin from $200.00 to $212.00 and gave the stock a “buy” rating in a research report on Monday, September 24th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the company’s stock. Parker-Hannifin currently has a consensus rating of “Hold” and an average price target of $189.89.
In other Parker-Hannifin news, VP William R. Bowman sold 2,400 shares of the business’s stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $175.36, for a total value of $420,864.00. Following the transaction, the vice president now directly owns 1,325 shares in the company, valued at $232,352. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP Joseph R. Leonti sold 1,605 shares of the business’s stock in a transaction dated Wednesday, September 5th. The shares were sold at an average price of $176.56, for a total transaction of $283,378.80. Following the completion of the transaction, the vice president now owns 15,731 shares in the company, valued at $2,777,465.36. The disclosure for this sale can be found here. Insiders own 1.12% of the company’s stock.
NYSE PH traded up $1.70 on Friday, reaching $167.30. The company’s stock had a trading volume of 1,130,245 shares, compared to its average volume of 1,140,054. The stock has a market cap of $24.36 billion, a P/E ratio of 16.06, a PEG ratio of 1.43 and a beta of 1.41. Parker-Hannifin Corp has a 52 week low of $152.47 and a 52 week high of $212.80. The company has a quick ratio of 1.08, a current ratio of 1.59 and a debt-to-equity ratio of 0.74.
Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, August 2nd. The industrial products company reported $3.22 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.91 by $0.31. The business had revenue of $3.82 billion for the quarter, compared to analysts’ expectations of $3.83 billion. Parker-Hannifin had a net margin of 7.42% and a return on equity of 24.77%. The firm’s revenue for the quarter was up 9.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.45 earnings per share. Research analysts anticipate that Parker-Hannifin Corp will post 11.43 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 14th. Investors of record on Tuesday, August 28th were paid a $0.76 dividend. The ex-dividend date of this dividend was Monday, August 27th. This represents a $3.04 dividend on an annualized basis and a yield of 1.82%. Parker-Hannifin’s payout ratio is currently 29.17%.
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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