Crossmark Global Holdings Inc. acquired a new position in Parker-Hannifin Corporation (NYSE:PH) in the third quarter, according to the company in its most recent filing with the SEC. The firm acquired 12,554 shares of the industrial products company’s stock, valued at approximately $2,197,000.
Other hedge funds have also recently made changes to their positions in the company. Israel Discount Bank of New York raised its holdings in shares of Parker-Hannifin Corporation by 31.6% in the 2nd quarter. Israel Discount Bank of New York now owns 625 shares of the industrial products company’s stock worth $100,000 after buying an additional 150 shares in the last quarter. Parallel Advisors LLC raised its holdings in shares of Parker-Hannifin Corporation by 4.1% in the 2nd quarter. Parallel Advisors LLC now owns 612 shares of the industrial products company’s stock worth $102,000 after buying an additional 24 shares in the last quarter. IHT Wealth Management LLC raised its holdings in shares of Parker-Hannifin Corporation by 20.8% in the 2nd quarter. IHT Wealth Management LLC now owns 116 shares of the industrial products company’s stock worth $119,000 after buying an additional 20 shares in the last quarter. BT Investment Management Ltd acquired a new position in shares of Parker-Hannifin Corporation in the 2nd quarter worth approximately $124,000. Finally, Sun Life Financial INC raised its holdings in shares of Parker-Hannifin Corporation by 8,108.3% in the 2nd quarter. Sun Life Financial INC now owns 985 shares of the industrial products company’s stock worth $157,000 after buying an additional 973 shares in the last quarter. Institutional investors own 79.64% of the company’s stock.
A number of equities analysts have recently issued reports on the company. Cowen and Company reissued a “hold” rating and issued a $155.00 target price on shares of Parker-Hannifin Corporation in a report on Sunday, October 29th. Jefferies Group LLC reissued a “hold” rating and issued a $165.00 target price (up from $163.00) on shares of Parker-Hannifin Corporation in a report on Wednesday, August 9th. Zacks Investment Research cut Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Citigroup Inc. increased their target price on Parker-Hannifin Corporation from $185.00 to $195.00 and gave the stock a “neutral” rating in a report on Friday. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $210.00 target price on shares of Parker-Hannifin Corporation in a report on Friday. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and fifteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $187.58.
In other news, VP Robert W. Malone sold 540 shares of the firm’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $186.37, for a total value of $100,639.80. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Joseph Scaminace sold 500 shares of the firm’s 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. Insiders sold a total of 5,929 shares of company stock valued at $979,553 over the last three months. Insiders own 1.12% of the company’s stock.
Shares of Parker-Hannifin Corporation (PH) opened at $185.38 on Monday. The company has a market capitalization of $24,692.63, a price-to-earnings ratio of 21.28, a PEG ratio of 1.70 and a beta of 1.40. Parker-Hannifin Corporation has a 52 week low of $119.13 and a 52 week high of $189.83. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.44 and a quick ratio of 0.95.
Parker-Hannifin Corporation (NYSE:PH) last released its earnings results on Thursday, November 2nd. The industrial products company reported $2.24 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.02 by $0.22. The company had revenue of $3.36 billion during the quarter, compared to analysts’ expectations of $3.31 billion. Parker-Hannifin Corporation had a return on equity of 23.61% and a net margin of 8.37%. The business’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same period last year, the firm earned $1.61 EPS. sell-side analysts predict that Parker-Hannifin Corporation will post 9.37 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 10th will be paid a $0.66 dividend. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $2.64 annualized dividend and a dividend yield of 1.42%. Parker-Hannifin Corporation’s dividend payout ratio (DPR) is currently 33.93%.
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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