Rathbone Brothers plc continued to hold its stake in shares of Parker-Hannifin Corporation (NYSE:PH) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,700 shares of the industrial products company’s stock at the end of the second quarter. Rathbone Brothers plc’s holdings in Parker-Hannifin Corporation were worth $1,071,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other hedge funds have also recently modified their holdings of PH. Parallel Advisors LLC increased its holdings in shares of Parker-Hannifin Corporation by 4.1% during the 2nd quarter. Parallel Advisors LLC now owns 612 shares of the industrial products company’s stock valued at $102,000 after acquiring an additional 24 shares during the last quarter. Harbour Capital Advisors LLC acquired a new position in shares of Parker-Hannifin Corporation during the 1st quarter valued at about $112,000. TrimTabs Asset Management LLC increased its holdings in shares of Parker-Hannifin Corporation by 88.5% during the 1st quarter. TrimTabs Asset Management LLC now owns 852 shares of the industrial products company’s stock valued at $137,000 after acquiring an additional 400 shares during the last quarter. FNY Partners Fund LP acquired a new position in shares of Parker-Hannifin Corporation during the 1st quarter valued at about $160,000. Finally, Independent Portfolio Consultants Inc. increased its holdings in shares of Parker-Hannifin Corporation by 74.3% during the 2nd quarter. Independent Portfolio Consultants Inc. now owns 1,124 shares of the industrial products company’s stock valued at $180,000 after acquiring an additional 479 shares during the last quarter. 79.72% of the stock is currently owned by institutional investors.
Several analysts recently weighed in on the company. BidaskClub downgraded Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Stifel Nicolaus reiterated a “buy” rating and issued a $189.00 price objective on shares of Parker-Hannifin Corporation in a research report on Friday, July 14th. ValuEngine upgraded Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, June 14th. Credit Suisse Group set a $189.00 price objective on Parker-Hannifin Corporation and gave the stock a “buy” rating in a research report on Sunday, May 28th. Finally, Jefferies Group LLC set a $163.00 target price on Parker-Hannifin Corporation and gave the stock a “hold” rating in a research report on Wednesday, June 28th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus target price of $174.38.
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In related news, Director Joseph Scaminace sold 500 shares of the stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $158.35, for a total transaction of $79,175.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Candy M. Obourn sold 1,241 shares of the stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $161.46, for a total transaction of $200,371.86. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,389 shares of company stock worth $878,913. Insiders own 2.73% of the company’s stock.
Shares of Parker-Hannifin Corporation (NYSE:PH) opened at 177.11 on Friday. Parker-Hannifin Corporation has a one year low of $118.77 and a one year high of $177.61. The stock has a 50 day moving average price of $161.62 and a 200-day moving average price of $160.00. The company has a market capitalization of $23.58 billion, a price-to-earnings ratio of 24.43 and a beta of 1.41.
Parker-Hannifin Corporation (NYSE:PH) last announced its quarterly earnings results on Thursday, August 3rd. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.31 by $0.14. The company had revenue of $3.50 billion for the quarter, compared to analysts’ expectations of $3.52 billion. Parker-Hannifin Corporation had a net margin of 8.18% and a return on equity of 22.90%. Parker-Hannifin Corporation’s quarterly revenue was up 18.2% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.90 earnings per share. On average, equities research analysts expect that Parker-Hannifin Corporation will post $9.08 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Monday, August 28th were paid a $0.66 dividend. The ex-dividend date of this dividend was Thursday, August 24th. This represents a $2.64 annualized dividend and a dividend yield of 1.49%. Parker-Hannifin Corporation’s dividend payout ratio is presently 36.51%.
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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