ING Groep NV lowered its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 0.2% during the second quarter, according to its most recent filing with the SEC. The fund owned 6,803 shares of the industrial products company’s stock after selling 11 shares during the period. ING Groep NV’s holdings in Parker-Hannifin Corporation were worth $1,087,000 at the end of the most recent quarter.
Other institutional investors have also added to or reduced their stakes in the company. Harbour Capital Advisors LLC acquired a new position in Parker-Hannifin Corporation during the first quarter valued at $112,000. Quadrant Capital Group LLC raised its stake in shares of Parker-Hannifin Corporation by 4.6% in the first quarter. Quadrant Capital Group LLC now owns 844 shares of the industrial products company’s stock worth $131,000 after buying an additional 37 shares in the last quarter. 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 in the last quarter. FNY Partners Fund LP purchased a new stake in shares of Parker-Hannifin Corporation during the first quarter worth about $160,000. Finally, 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 in the last quarter. Institutional investors and hedge funds own 80.66% of the company’s stock.
Parker-Hannifin Corporation (NYSE:PH) traded down 0.27% during mid-day trading on Friday, hitting $155.15. The stock had a trading volume of 867,073 shares. The firm’s 50-day moving average is $162.38 and its 200 day moving average is $158.39. The company 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 has a 12 month low of $118.77 and a 12 month high of $167.50.
Parker-Hannifin Corporation (NYSE:PH) last posted its quarterly earnings results on Thursday, August 3rd. The industrial products company reported $2.45 EPS for the quarter, topping the Zacks’ consensus estimate of $2.31 by $0.14. Parker-Hannifin Corporation had a return on equity of 22.90% and a net margin of 8.18%. The firm had revenue of $3.50 billion during the quarter, compared to analyst estimates of $3.52 billion. During the same period last year, the company earned $1.90 earnings per share. The business’s revenue for the quarter was up 18.2% on a year-over-year basis. Equities analysts anticipate that Parker-Hannifin Corporation will post $9.07 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Monday, August 28th will be issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.70%. The ex-dividend date is Thursday, August 24th. Parker-Hannifin Corporation’s payout ratio is currently 36.51%.
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A number of brokerages recently issued reports on PH. BidaskClub lowered Parker-Hannifin Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Jefferies Group LLC reaffirmed a “hold” rating and set a $165.00 price target (up previously from $163.00) on shares of Parker-Hannifin Corporation in a research report on Wednesday, August 9th. Zacks Investment Research lowered Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. Stifel Nicolaus set a $198.00 price target on Parker-Hannifin Corporation and gave the stock a “buy” rating in a research report on Friday, August 4th. Finally, Wolfe Research initiated coverage on Parker-Hannifin Corporation in a research report on Tuesday, July 11th. They set an “outperform” rating and a $182.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have given a hold rating and sixteen have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $168.69.
In other news, VP John G. Dedinsky, Jr. sold 2,530 shares of the firm’s 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 completion of the transaction, the vice president now directly owns 21,753 shares of the company’s stock, valued at $3,501,797.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Martin C. Maxwell sold 2,850 shares of the firm’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $160.08, for a total value of $456,228.00. Following the completion of the transaction, the vice president now directly owns 21,968 shares of the company’s stock, valued at $3,516,637.44. The disclosure for this sale can be found here. 2.73% of the stock is 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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