Pitcairn Co. lowered its position in Parker-Hannifin Corporation (NYSE:PH) by 1.3% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,410 shares of the industrial products company’s stock after selling 18 shares during the period. Pitcairn Co.’s holdings in Parker-Hannifin Corporation were worth $226,000 at the end of the most recent quarter.
Several other large investors have also modified their holdings of PH. Harbour Capital Advisors LLC acquired a new stake in shares of Parker-Hannifin Corporation during the first quarter worth about $112,000. TrimTabs Asset Management LLC raised its stake in shares of Parker-Hannifin Corporation by 88.5% in the first quarter. TrimTabs Asset Management LLC now owns 852 shares of the industrial products company’s stock worth $137,000 after buying an additional 400 shares during the period. FNY Partners Fund LP purchased a new stake in shares of Parker-Hannifin Corporation during the first quarter worth $160,000. Independent Portfolio Consultants Inc. raised its stake in shares of Parker-Hannifin Corporation by 74.3% in the second quarter. Independent Portfolio Consultants Inc. now owns 1,124 shares of the industrial products company’s stock worth $180,000 after buying an additional 479 shares during the period. Finally, Bronfman E.L. Rothschild L.P. raised its stake in shares of Parker-Hannifin Corporation by 5.0% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,291 shares of the industrial products company’s stock worth $207,000 after buying an additional 62 shares during the period. 80.66% of the stock is owned by hedge funds and other institutional investors.
Parker-Hannifin Corporation (NYSE:PH) opened at 155.57 on Friday. The stock has a market capitalization of $20.73 billion, a P/E ratio of 21.46 and a beta of 1.40. The stock has a 50 day moving average price of $162.43 and a 200-day moving average price of $158.34. Parker-Hannifin Corporation has a one year low of $118.77 and a one year high of $167.50.
Parker-Hannifin Corporation (NYSE:PH) last announced its quarterly earnings data 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 business had revenue of $3.50 billion for 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%. The company’s revenue for the quarter was up 18.2% compared to the same quarter last year. During the same period last year, the firm earned $1.90 earnings per share. Analysts anticipate that Parker-Hannifin Corporation will post $9.07 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Monday, August 28th will be paid a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 1.70%. The ex-dividend date of this dividend is Thursday, August 24th. Parker-Hannifin Corporation’s payout ratio is currently 36.51%.
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A number of equities research analysts have weighed in on the company. Zacks Investment Research lowered Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Credit Suisse Group set a $189.00 target price on Parker-Hannifin Corporation and gave the company a “buy” rating in a research report on Sunday, April 30th. Barclays PLC set a $162.00 target price on Parker-Hannifin Corporation and gave the company a “hold” rating in a research report on Sunday, April 30th. Jefferies Group LLC reaffirmed a “hold” rating and set a $165.00 target price (up from $163.00) on shares of Parker-Hannifin Corporation in a research report on Wednesday, August 9th. Finally, BidaskClub lowered Parker-Hannifin Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and sixteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $168.69.
In other news, VP John G. Dedinsky, Jr. sold 2,530 shares of the stock in a transaction on Friday, June 2nd. The stock was sold at an average price of $160.98, for a total value of $407,279.40. Following the sale, the vice president now directly owns 21,753 shares in the company, valued at $3,501,797.94. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Martin C. Maxwell sold 2,850 shares of the stock in a transaction on Thursday, May 25th. The shares were sold at an average price of $160.08, for a total value of $456,228.00. Following the completion of the sale, the vice president now owns 21,968 shares in the company, valued at $3,516,637.44. The disclosure for this sale can be found here. 2.73% of the stock is currently owned by company insiders.
About Parker-Hannifin Corporation
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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