Morse Asset Management Inc cut its stake in Parker-Hannifin Corporation (NYSE:PH) by 31.8% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 8,720 shares of the industrial products company’s stock after selling 4,070 shares during the period. Morse Asset Management Inc’s holdings in Parker-Hannifin Corporation were worth $1,394,000 as of its most recent SEC filing.
A number of other large investors have also recently bought and sold shares of PH. Mn Services Vermogensbeheer B.V. raised its stake in Parker-Hannifin Corporation by 3.7% in the first quarter. Mn Services Vermogensbeheer B.V. now owns 3,558 shares of the industrial products company’s stock valued at $533,000 after buying an additional 128 shares during the period. Candriam Luxembourg S.C.A. raised its stake in Parker-Hannifin Corporation by 369.0% in the first quarter. Candriam Luxembourg S.C.A. now owns 67,305 shares of the industrial products company’s stock valued at $10,791,000 after buying an additional 52,953 shares during the period. Retirement Systems of Alabama raised its stake in Parker-Hannifin Corporation by 1.9% in the first quarter. Retirement Systems of Alabama now owns 64,432 shares of the industrial products company’s stock valued at $10,330,000 after buying an additional 1,206 shares during the period. State of Alaska Department of Revenue purchased a new stake in Parker-Hannifin Corporation during the first quarter valued at $362,000. Finally, Quantitative Systematic Strategies LLC raised its stake in Parker-Hannifin Corporation by 290.4% in the first quarter. Quantitative Systematic Strategies LLC now owns 14,613 shares of the industrial products company’s stock valued at $2,343,000 after buying an additional 10,870 shares during the period. Institutional investors own 80.66% of the company’s stock.
Shares of Parker-Hannifin Corporation (NYSE:PH) traded down 0.27% on Friday, hitting $155.15. 867,073 shares of the stock were exchanged. Parker-Hannifin Corporation has a 1-year low of $118.77 and a 1-year high of $167.50. The stock’s 50-day moving average is $162.38 and its 200-day moving average is $158.39. The stock has a market cap of $20.68 billion, a price-to-earnings ratio of 21.40 and a beta of 1.40.
Parker-Hannifin Corporation (NYSE:PH) last posted its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.14. Parker-Hannifin Corporation had a net margin of 8.18% and a return on equity of 22.90%. The business had revenue of $3.50 billion during the quarter, compared to the consensus estimate of $3.52 billion. During the same quarter last year, the company posted $1.90 earnings per share. The firm’s quarterly revenue was up 18.2% compared to the same quarter last year. Analysts forecast 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. Investors of record on Monday, August 28th will be issued a dividend of $0.66 per share. The ex-dividend date is Thursday, August 24th. This represents a $2.64 dividend on an annualized basis and a yield of 1.70%. Parker-Hannifin Corporation’s dividend payout ratio (DPR) is presently 36.51%.
A number of brokerages recently commented on PH. Stifel Nicolaus set a $198.00 price objective on shares of Parker-Hannifin Corporation and gave the stock a “buy” rating in a report on Friday, August 4th. BidaskClub lowered shares of Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Jefferies Group LLC restated a “hold” rating and set a $163.00 price objective on shares of Parker-Hannifin Corporation in a report on Thursday, August 3rd. Wolfe Research began coverage on shares of Parker-Hannifin Corporation in a report on Tuesday, July 11th. They set an “outperform” rating and a $182.00 price objective on the stock. Finally, Zacks Investment Research lowered shares of Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. One analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and an average target price of $168.69.
In other Parker-Hannifin Corporation news, VP John G. Dedinsky, Jr. sold 2,530 shares of the stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $160.98, for a total transaction of $407,279.40. Following the completion of the transaction, the vice president now owns 21,753 shares in the company, valued at $3,501,797.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Martin C. Maxwell sold 2,850 shares of the stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $160.08, for a total transaction of $456,228.00. Following the transaction, the vice president now owns 21,968 shares of the company’s stock, valued at approximately $3,516,637.44. The disclosure for this sale can be found here. Company insiders own 2.73% of the company’s stock.
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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