Pacer Advisors Inc. increased its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 15.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,100 shares of the industrial products company’s stock after purchasing an additional 422 shares during the period. Pacer Advisors Inc.’s holdings in Parker-Hannifin Corporation were worth $495,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Two Sigma Securities LLC purchased a new position in shares of Parker-Hannifin Corporation in the 1st quarter valued at about $785,000. Stifel Financial Corp grew its holdings in shares of Parker-Hannifin Corporation by 2.8% during the first quarter. Stifel Financial Corp now owns 353,400 shares of the industrial products company’s stock worth $56,657,000 after buying an additional 9,777 shares in the last quarter. Bank of Nova Scotia grew its holdings in shares of Parker-Hannifin Corporation by 943.9% during the first quarter. Bank of Nova Scotia now owns 30,535 shares of the industrial products company’s stock worth $4,896,000 after buying an additional 27,610 shares in the last quarter. Boston Common Asset Management LLC grew its holdings in shares of Parker-Hannifin Corporation by 4.7% during the first quarter. Boston Common Asset Management LLC now owns 3,255 shares of the industrial products company’s stock worth $522,000 after buying an additional 145 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. grew its holdings in shares of Parker-Hannifin Corporation by 3.9% during the first quarter. Schwab Charles Investment Management Inc. now owns 437,369 shares of the industrial products company’s stock worth $70,119,000 after buying an additional 16,479 shares in the last quarter. Hedge funds and other institutional investors own 80.24% of the company’s stock.
In other Parker-Hannifin Corporation news, VP Joseph R. Leonti sold 408 shares of the stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $160.70, for a total transaction of $65,565.60. Following the completion of the transaction, the vice president now directly owns 7,318 shares in the company, valued at $1,176,002.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Joseph Scaminace sold 500 shares of the stock in a transaction on Monday, August 28th. The stock was sold at an average price of $158.35, for a total value of $79,175.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,389 shares of company stock valued at $878,913. 2.73% of the stock is owned by company insiders.
Shares of Parker-Hannifin Corporation (NYSE PH) opened at 167.94 on Friday. The firm’s 50-day moving average is $160.91 and its 200 day moving average is $159.60. Parker-Hannifin Corporation has a 1-year low of $118.77 and a 1-year high of $168.70. The company has a market cap of $22.36 billion, a price-to-earnings ratio of 23.16 and a beta of 1.41.
Parker-Hannifin Corporation (NYSE:PH) last issued its earnings results on Thursday, August 3rd. The industrial products company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.31 by $0.14. The firm had revenue of $3.50 billion during the quarter, compared to analysts’ expectations of $3.52 billion. Parker-Hannifin Corporation had a return on equity of 22.90% and a net margin of 8.18%. Parker-Hannifin Corporation’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same period last year, the business earned $1.90 earnings per share. Equities analysts expect that Parker-Hannifin Corporation will post $9.08 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Monday, August 28th were given a $0.66 dividend. The ex-dividend date was Thursday, August 24th. This represents a $2.64 annualized dividend and a yield of 1.57%. Parker-Hannifin Corporation’s dividend payout ratio (DPR) is currently 36.51%.
A number of brokerages have weighed in on PH. Jefferies Group LLC set a $163.00 price target on shares of Parker-Hannifin Corporation and gave the company a “hold” rating in a research report on Wednesday, June 28th. BidaskClub cut shares of Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Stifel Nicolaus reaffirmed a “buy” rating and set a $176.00 price target on shares of Parker-Hannifin Corporation in a research report on Thursday, July 6th. J P Morgan Chase & Co set a $175.00 target price on shares of Parker-Hannifin Corporation and gave the stock a “buy” rating in a research report on Thursday, May 18th. Finally, ValuEngine raised shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, June 14th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have given a buy rating to the stock. Parker-Hannifin Corporation has a consensus rating of “Buy” and a consensus target price of $172.06.
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Parker-Hannifin Corporation 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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