State of New Jersey Common Pension Fund D cut its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 3.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 83,885 shares of the industrial products company’s stock after selling 3,206 shares during the period. State of New Jersey Common Pension Fund D owned approximately 0.07% of Parker-Hannifin worth $16,973,000 at the end of the most recent reporting period.
Several other large investors have also bought and sold shares of PH. FMR LLC increased its position in shares of Parker-Hannifin by 16.1% during the first quarter. FMR LLC now owns 310,712 shares of the industrial products company’s stock worth $53,324,000 after acquiring an additional 43,094 shares in the last quarter. AXA increased its position in shares of Parker-Hannifin by 34.9% during the first quarter. AXA now owns 110,468 shares of the industrial products company’s stock worth $14,331,000 after acquiring an additional 28,593 shares in the last quarter. Advisor Group Holdings Inc. bought a new stake in shares of Parker-Hannifin during the first quarter worth about $2,119,000. APG Asset Management N.V. increased its position in shares of Parker-Hannifin by 38.0% during the first quarter. APG Asset Management N.V. now owns 187,324 shares of the industrial products company’s stock worth $24,302,000 after acquiring an additional 51,558 shares in the last quarter. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC increased its position in shares of Parker-Hannifin by 20,920.0% during the second quarter. Nelson Van Denburg & Campbell Wealth Management Group LLC now owns 1,051 shares of the industrial products company’s stock worth $192,000 after acquiring an additional 1,046 shares in the last quarter. 77.89% of the stock is owned by institutional investors.
Several equities research analysts have recently commented on PH shares. Barclays boosted their target price on shares of Parker-Hannifin from $217.00 to $220.00 and gave the stock an “overweight” rating in a research report on Tuesday, July 7th. Citigroup boosted their price target on shares of Parker-Hannifin from $200.00 to $225.00 and gave the stock a “buy” rating in a report on Wednesday, October 7th. Wells Fargo & Company boosted their price target on shares of Parker-Hannifin from $210.00 to $245.00 and gave the stock an “overweight” rating in a report on Friday, October 9th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Parker-Hannifin from $225.00 to $240.00 and gave the stock a “buy” rating in a report on Tuesday, October 13th. Finally, Credit Suisse Group restated a “buy” rating on shares of Parker-Hannifin in a report on Monday, August 10th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $210.60.
In related news, EVP Mark J. Hart sold 1,459 shares of the company’s stock in a transaction that occurred on Wednesday, September 16th. The shares were sold at an average price of $216.16, for a total transaction of $315,377.44. Following the sale, the executive vice president now owns 19,276 shares of the company’s stock, valued at approximately $4,166,700.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Robert W. Malone sold 4,881 shares of the company’s stock in a transaction that occurred on Wednesday, August 12th. The stock was sold at an average price of $213.06, for a total transaction of $1,039,945.86. Insiders have sold a total of 37,225 shares of company stock worth $7,784,886 in the last ninety days. 1.47% of the stock is currently owned by insiders.
Shares of PH stock opened at $207.84 on Friday. The stock has a market capitalization of $26.72 billion, a P/E ratio of 22.42, a PEG ratio of 1.76 and a beta of 1.65. The company has a current ratio of 1.55, a quick ratio of 0.98 and a debt-to-equity ratio of 1.25. The firm’s 50 day moving average is $211.87 and its 200 day moving average is $185.44. Parker-Hannifin Co. has a 12 month low of $93.00 and a 12 month high of $228.67.
Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, August 6th. The industrial products company reported $2.55 EPS for the quarter, beating the Zacks’ consensus estimate of $1.47 by $1.08. The company had revenue of $3.16 billion for the quarter, compared to analysts’ expectations of $2.89 billion. Parker-Hannifin had a net margin of 8.81% and a return on equity of 22.54%. Parker-Hannifin’s revenue was down 14.1% compared to the same quarter last year. During the same period in the prior year, the company posted $3.31 EPS. On average, equities analysts predict that Parker-Hannifin Co. will post 10.7 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Friday, November 6th will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 1.69%. The ex-dividend date of this dividend is Thursday, November 5th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 32.62%.
Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; 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; control solutions for extreme corrosion resistance, temperatures, pressures, and precise flow; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.
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