Independent Advisor Alliance increased its holdings in shares of Parker-Hannifin Corp (NYSE:PH) by 3.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 12,790 shares of the industrial products company’s stock after acquiring an additional 420 shares during the quarter. Independent Advisor Alliance’s holdings in Parker-Hannifin were worth $2,268,000 as of its most recent SEC filing.
A number of other institutional investors have also modified their holdings of PH. Bessemer Group Inc. lifted its holdings in Parker-Hannifin by 79.8% during the second quarter. Bessemer Group Inc. now owns 1,370 shares of the industrial products company’s stock worth $219,000 after acquiring an additional 608 shares during the period. Schwab Charles Investment Management Inc. lifted its holdings in Parker-Hannifin by 4.2% during the second quarter. Schwab Charles Investment Management Inc. now owns 455,893 shares of the industrial products company’s stock worth $72,861,000 after acquiring an additional 18,524 shares during the period. Teacher Retirement System of Texas lifted its holdings in Parker-Hannifin by 1,079.4% during the second quarter. Teacher Retirement System of Texas now owns 16,394 shares of the industrial products company’s stock worth $2,620,000 after acquiring an additional 15,004 shares during the period. Advisors Asset Management Inc. lifted its holdings in Parker-Hannifin by 4.3% during the second quarter. Advisors Asset Management Inc. now owns 30,463 shares of the industrial products company’s stock worth $4,869,000 after acquiring an additional 1,248 shares during the period. Finally, Pinnacle Financial Partners Inc. bought a new stake in Parker-Hannifin during the second quarter worth $287,000. Institutional investors and hedge funds own 78.24% of the company’s stock.
In related news, VP Thomas C. Gentile sold 326 shares of the business’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $181.89, for a total transaction of $59,296.14. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Lee C. Banks sold 5,286 shares of the business’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $186.38, for a total value of $985,204.68. Following the transaction, the chief operating officer now owns 112,808 shares of the company’s stock, valued at $21,025,155.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 22,495 shares of company stock valued at $4,127,941. 1.12% of the stock is owned by company insiders.
Shares of Parker-Hannifin Corp (NYSE PH) traded down $0.08 during midday trading on Wednesday, hitting $191.86. The stock had a trading volume of 704,900 shares, compared to its average volume of 990,967. The stock has a market capitalization of $25,571.42, a PE ratio of 22.04, a PEG ratio of 1.72 and a beta of 1.40. Parker-Hannifin Corp has a one year low of $139.49 and a one year high of $193.49. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.95 and a current ratio of 1.44.
Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, November 2nd. The industrial products company reported $2.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.02 by $0.22. The company had revenue of $3.36 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the previous year, the business earned $1.61 earnings per share. analysts predict that Parker-Hannifin Corp will post 9.56 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 10th were given a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend was Thursday, November 9th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 33.93%.
Several analysts have issued reports on PH shares. ValuEngine lowered Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Deutsche Bank boosted their target price on Parker-Hannifin to $200.00 and gave the company a “buy” rating in a research note on Monday, November 20th. Zacks Investment Research upgraded Parker-Hannifin from a “hold” rating to a “buy” rating and set a $208.00 target price on the stock in a research note on Tuesday, November 7th. BMO Capital Markets boosted their target price on Parker-Hannifin from $200.00 to $205.00 and gave the company an “outperform” rating in a research note on Monday, November 6th. Finally, KeyCorp restated a “buy” rating and issued a $205.00 target price on shares of Parker-Hannifin in a research note on Friday, November 3rd. One research analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $188.95.
Parker-Hannifin Company Profile
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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