TD Asset Management Inc. raised its holdings in Parker-Hannifin Corporation (NYSE:PH) by 6.4% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 245,806 shares of the industrial products company’s stock after acquiring an additional 14,697 shares during the period. TD Asset Management Inc. owned about 0.18% of Parker-Hannifin worth $43,021,000 at the end of the most recent quarter.
A number of other institutional investors have also added to or reduced their stakes in PH. Jennison Associates LLC grew its position in Parker-Hannifin by 28.5% in the second quarter. Jennison Associates LLC now owns 6,026,440 shares of the industrial products company’s stock valued at $963,146,000 after acquiring an additional 1,336,541 shares during the last quarter. Voya Investment Management LLC grew its position in Parker-Hannifin by 1,175.0% in the second quarter. Voya Investment Management LLC now owns 1,348,381 shares of the industrial products company’s stock valued at $215,499,000 after acquiring an additional 1,242,624 shares during the last quarter. Koch Industries Inc. bought a new position in Parker-Hannifin in the second quarter valued at about $521,000. PNC Financial Services Group Inc. grew its position in Parker-Hannifin by 277.9% in the second quarter. PNC Financial Services Group Inc. now owns 595,662 shares of the industrial products company’s stock valued at $95,200,000 after acquiring an additional 438,035 shares during the last quarter. Finally, Janus Henderson Group PLC grew its position in Parker-Hannifin by 2,611.4% in the second quarter. Janus Henderson Group PLC now owns 453,585 shares of the industrial products company’s stock valued at $72,493,000 after acquiring an additional 436,856 shares during the last quarter. Hedge funds and other institutional investors own 78.35% of the company’s stock.
In other Parker-Hannifin news, VP Joseph R. Leonti sold 408 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $160.70, for a total value of $65,565.60. Following the transaction, the vice president now directly owns 7,318 shares of the company’s stock, valued at $1,176,002.60. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Linda S. Harty sold 3,491 shares of the business’s stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 9,727 shares in the company, valued at $1,782,959.10. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 25,328 shares of company stock worth $4,532,639. 1.12% of the stock is owned by insiders.
Parker-Hannifin Corporation (NYSE PH) traded down $1.33 during trading on Monday, hitting $183.28. The company had a trading volume of 211,700 shares, compared to its average volume of 1,003,091. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.95 and a current ratio of 1.44. The firm has a market capitalization of $24,417.66, a price-to-earnings ratio of 21.04, a P/E/G ratio of 1.65 and a beta of 1.40. Parker-Hannifin Corporation has a one year low of $134.03 and a one year high of $189.83.
Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, November 2nd. The industrial products company reported $2.24 EPS for the quarter, topping the Zacks’ consensus estimate of $2.02 by $0.22. The company had revenue of $3.36 billion for the quarter, compared to analyst estimates of $3.31 billion. Parker-Hannifin had a return on equity of 23.61% and a net margin of 8.37%. The firm’s quarterly revenue was up 22.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.61 earnings per share. analysts predict that Parker-Hannifin Corporation will post 9.56 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 10th will be paid a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date is Thursday, November 9th. Parker-Hannifin’s dividend payout ratio is currently 33.93%.
A number of research firms have issued reports on PH. Stifel Nicolaus set a $198.00 target price on Parker-Hannifin and gave the company a “buy” rating in a research report on Friday, August 4th. Robert W. Baird set a $163.00 price target on Parker-Hannifin and gave the company a “hold” rating in a research note on Thursday, August 24th. BidaskClub lowered Parker-Hannifin from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. Zacks Investment Research lowered Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Finally, KeyCorp reissued a “buy” rating and set a $200.00 price target on shares of Parker-Hannifin in a research note on Thursday, October 12th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $188.95.
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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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