Crossmark Global Holdings Inc. Invests $2.20 Million in Parker-Hannifin Corporation (PH)

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.

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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.

Institutional Ownership by Quarter for Parker-Hannifin Corporation (NYSE:PH)

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