Parker-Hannifin Co. (NYSE:PH) Stake Lessened by Pacer Advisors Inc.

Pacer Advisors Inc. lessened its stake in Parker-Hannifin Co. (NYSE:PHGet Rating) by 0.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 7,682 shares of the industrial products company’s stock after selling 46 shares during the period. Pacer Advisors Inc.’s holdings in Parker-Hannifin were worth $2,180,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of the stock. Norges Bank bought a new stake in Parker-Hannifin during the fourth quarter valued at $720,070,000. EP Wealth Advisors LLC increased its stake in Parker-Hannifin by 52,973.1% during the third quarter. EP Wealth Advisors LLC now owns 429,892 shares of the industrial products company’s stock valued at $461,000 after purchasing an additional 429,082 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its stake in Parker-Hannifin by 230.5% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 417,806 shares of the industrial products company’s stock valued at $132,912,000 after purchasing an additional 291,400 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in shares of Parker-Hannifin by 53.9% during the fourth quarter. DekaBank Deutsche Girozentrale now owns 610,914 shares of the industrial products company’s stock worth $196,541,000 after acquiring an additional 213,950 shares during the last quarter. Finally, Madison Asset Management LLC bought a new position in shares of Parker-Hannifin during the fourth quarter worth about $60,107,000. Institutional investors and hedge funds own 80.55% of the company’s stock.

In other Parker-Hannifin news, Director James L. Wainscott bought 1,000 shares of the company’s stock in a transaction dated Monday, May 9th. The shares were bought at an average price of $273.44 per share, for a total transaction of $273,440.00. Following the acquisition, the director now directly owns 18,280 shares of the company’s stock, valued at $4,998,483.20. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James L. Wainscott bought 2,000 shares of the company’s stock in a transaction dated Friday, May 6th. The stock was acquired at an average price of $267.78 per share, for a total transaction of $535,560.00. Following the acquisition, the director now directly owns 17,280 shares in the company, valued at $4,627,238.40. The disclosure for this purchase can be found here. 1.47% of the stock is currently owned by insiders.

Several research firms have recently commented on PH. Jefferies Financial Group lowered their price target on shares of Parker-Hannifin from $380.00 to $350.00 and set a “buy” rating for the company in a research report on Friday, March 4th. StockNews.com began coverage on shares of Parker-Hannifin in a research report on Thursday, March 31st. They set a “buy” rating for the company. Barclays lowered their price target on shares of Parker-Hannifin from $376.00 to $350.00 and set an “overweight” rating for the company in a research report on Monday, April 4th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Parker-Hannifin from $343.00 to $335.00 and set a “hold” rating for the company in a report on Thursday, April 14th. Finally, Stifel Nicolaus reduced their price objective on shares of Parker-Hannifin from $384.00 to $338.00 and set a “buy” rating for the company in a report on Monday, April 18th. Three research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus target price of $351.08.

NYSE PH opened at $239.96 on Friday. The stock’s 50-day moving average price is $267.46 and its two-hundred day moving average price is $289.44. The company has a current ratio of 1.52, a quick ratio of 1.09 and a debt-to-equity ratio of 0.69. The company has a market cap of $30.80 billion, a PE ratio of 18.56, a PEG ratio of 1.47 and a beta of 1.57. Parker-Hannifin Co. has a 1 year low of $230.44 and a 1 year high of $340.00.

Parker-Hannifin (NYSE:PHGet Rating) last posted its quarterly earnings data on Thursday, May 5th. The industrial products company reported $4.83 earnings per share (EPS) for the quarter, topping the consensus estimate of $4.61 by $0.22. The firm had revenue of $4.09 billion for the quarter, compared to the consensus estimate of $4.07 billion. Parker-Hannifin had a return on equity of 27.07% and a net margin of 10.82%. The business’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company earned $4.11 EPS. Research analysts forecast that Parker-Hannifin Co. will post 18.23 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 3rd. Shareholders of record on Friday, May 13th were issued a dividend of $1.33 per share. This represents a $5.32 annualized dividend and a yield of 2.22%. The ex-dividend date of this dividend was Thursday, May 12th. This is an increase from Parker-Hannifin’s previous quarterly dividend of $1.03. Parker-Hannifin’s payout ratio is presently 41.14%.

Parker-Hannifin Profile (Get Rating)

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 Company's 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.

See Also

Institutional Ownership by Quarter for Parker-Hannifin (NYSE:PH)

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