First National Trust Co trimmed its holdings in shares of Parker-Hannifin Corp (NYSE:PH) by 6.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,483 shares of the industrial products company’s stock after selling 303 shares during the period. First National Trust Co’s holdings in Parker-Hannifin were worth $810,000 at the end of the most recent quarter.
Several other institutional investors have also bought and sold shares of the company. FMR LLC raised its holdings in Parker-Hannifin by 16.1% during the 1st quarter. FMR LLC now owns 310,712 shares of the industrial products company’s stock worth $53,324,000 after purchasing an additional 43,094 shares during the last quarter. DNB Asset Management AS grew its position in Parker-Hannifin by 7.0% in the 2nd quarter. DNB Asset Management AS now owns 27,863 shares of the industrial products company’s stock valued at $4,737,000 after purchasing an additional 1,811 shares during the period. Crossmark Global Holdings Inc. grew its position in Parker-Hannifin by 1.9% in the 2nd quarter. Crossmark Global Holdings Inc. now owns 10,344 shares of the industrial products company’s stock valued at $1,759,000 after purchasing an additional 191 shares during the period. Nachman Norwood & Parrott Inc acquired a new stake in Parker-Hannifin in the 2nd quarter valued at $289,000. Finally, HMS Capital Management LLC acquired a new stake in Parker-Hannifin in the 2nd quarter valued at $36,000. Institutional investors own 80.32% of the company’s stock.
A number of equities analysts have issued reports on the stock. Morgan Stanley set a $193.00 price objective on shares of Parker-Hannifin and gave the stock a “hold” rating in a report on Friday, November 1st. Stifel Nicolaus cut their price objective on shares of Parker-Hannifin from $176.00 to $174.00 and set a “hold” rating on the stock in a report on Monday, October 7th. Wells Fargo & Co lifted their price objective on shares of Parker-Hannifin from $185.00 to $205.00 and gave the stock a “market perform” rating in a report on Monday. Wolfe Research set a $189.00 price objective on shares of Parker-Hannifin and gave the stock a “hold” rating in a report on Friday, November 1st. Finally, ValuEngine raised shares of Parker-Hannifin from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $185.85.
In other news, Director Linda S. Harty acquired 3,000 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was bought at an average cost of $158.39 per share, with a total value of $475,170.00. Following the transaction, the director now directly owns 13,243 shares in the company, valued at approximately $2,097,558.77. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Andrew D. Ross sold 1,939 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $193.82, for a total transaction of $375,816.98. Following the transaction, the vice president now directly owns 24,039 shares in the company, valued at approximately $4,659,238.98. The disclosure for this sale can be found here. Over the last quarter, insiders sold 63,908 shares of company stock valued at $11,632,574. 1.23% of the stock is owned by insiders.
Shares of NYSE:PH traded up $0.11 during midday trading on Thursday, reaching $199.28. The company had a trading volume of 29,072 shares, compared to its average volume of 1,029,670. The company’s 50 day moving average price is $182.37 and its 200 day moving average price is $172.29. The company has a current ratio of 1.96, a quick ratio of 1.53 and a debt-to-equity ratio of 1.21. The stock has a market cap of $25.52 billion, a P/E ratio of 16.82, a P/E/G ratio of 2.00 and a beta of 1.55. Parker-Hannifin Corp has a 52-week low of $140.82 and a 52-week high of $201.11.
Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.76 earnings per share for the quarter, beating analysts’ consensus estimates of $2.64 by $0.12. The firm had revenue of $3.33 billion during the quarter, compared to analyst estimates of $3.33 billion. Parker-Hannifin had a return on equity of 25.74% and a net margin of 10.41%. The business’s quarterly revenue was down 4.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.84 earnings per share. Research analysts forecast that Parker-Hannifin Corp will post 10.84 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 8th will be issued a $0.88 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $3.52 annualized dividend and a yield of 1.77%. Parker-Hannifin’s dividend payout ratio is currently 29.70%.
Parker-Hannifin Company Profile
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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