North Point Portfolio Managers Corp OH bought a new stake in Parker-Hannifin Corp (NYSE:PH) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,090 shares of the industrial products company’s stock, valued at approximately $200,000.
Several other large investors have also made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. boosted its holdings in Parker-Hannifin by 5,815.4% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 769 shares of the industrial products company’s stock worth $120,000 after buying an additional 756 shares during the last quarter. First Hawaiian Bank bought a new position in shares of Parker-Hannifin during the 3rd quarter valued at about $125,000. Manchester Capital Management LLC lifted its holdings in shares of Parker-Hannifin by 55.9% during the 2nd quarter. Manchester Capital Management LLC now owns 976 shares of the industrial products company’s stock valued at $152,000 after purchasing an additional 350 shares in the last quarter. Signaturefd LLC lifted its holdings in shares of Parker-Hannifin by 48.3% during the 2nd quarter. Signaturefd LLC now owns 1,108 shares of the industrial products company’s stock valued at $173,000 after purchasing an additional 361 shares in the last quarter. Finally, HighPoint Advisor Group LLC bought a new position in shares of Parker-Hannifin during the 3rd quarter valued at about $179,000. Institutional investors own 79.48% of the company’s stock.
Several equities analysts have recently weighed in on the company. Cowen cut Parker-Hannifin from a “market perform” rating to an “underperform” rating in a report on Monday, October 15th. Barclays assumed coverage on Parker-Hannifin in a report on Thursday, September 6th. They set an “overweight” rating and a $200.00 price objective on the stock. Deutsche Bank lifted their price objective on Parker-Hannifin from $176.00 to $184.00 and gave the company a “hold” rating in a report on Friday, September 28th. Morgan Stanley cut their price objective on Parker-Hannifin from $187.00 to $179.00 and set a “hold” rating on the stock in a report on Monday, November 5th. Finally, Wells Fargo & Co boosted their target price on Parker-Hannifin from $185.00 to $193.00 and gave the company a “market perform” rating in a research note on Thursday, September 27th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. Parker-Hannifin presently has a consensus rating of “Hold” and a consensus price target of $186.72.
Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, November 1st. The industrial products company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.31. The business had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.54 billion. Parker-Hannifin had a return on equity of 25.49% and a net margin of 7.98%. The firm’s revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the firm earned $2.24 EPS. Equities analysts forecast that Parker-Hannifin Corp will post 11.61 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Friday, November 9th will be issued a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.77%. The ex-dividend date of this dividend is Thursday, November 8th. Parker-Hannifin’s payout ratio is presently 29.17%.
In other Parker-Hannifin news, VP William R. Bowman sold 2,400 shares of the company’s stock in a transaction on Wednesday, August 29th. The stock was 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 of the company’s stock, valued at approximately $232,352. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Joseph R. Leonti sold 1,605 shares of the company’s stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $176.56, for a total value of $283,378.80. Following the sale, the vice president now owns 15,731 shares of the company’s stock, valued at $2,777,465.36. The disclosure for this sale can be found here. 1.12% of the stock is currently owned by insiders.
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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