State Board of Administration of Florida Retirement System lifted its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 1.7% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 188,948 shares of the industrial products company’s stock after purchasing an additional 3,140 shares during the period. State Board of Administration of Florida Retirement System owned about 0.14% of Parker-Hannifin Corporation worth $33,070,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Tredje AP fonden lifted its position in shares of Parker-Hannifin Corporation by 146.9% during the second quarter. Tredje AP fonden now owns 13,578 shares of the industrial products company’s stock worth $2,170,000 after purchasing an additional 8,078 shares during the last quarter. Koch Industries Inc. bought a new position in shares of Parker-Hannifin Corporation during the second quarter worth about $521,000. Sand Hill Global Advisors LLC bought a new position in shares of Parker-Hannifin Corporation during the second quarter worth about $4,194,000. Chicago Equity Partners LLC lifted its position in shares of Parker-Hannifin Corporation by 4.6% during the second quarter. Chicago Equity Partners LLC now owns 66,375 shares of the industrial products company’s stock worth $10,608,000 after purchasing an additional 2,930 shares during the last quarter. Finally, TIAA FSB bought a new position in shares of Parker-Hannifin Corporation during the second quarter worth about $4,175,000. 79.64% of the stock is currently owned by institutional investors and hedge funds.
A number of equities analysts have issued reports on PH shares. Wolfe Research started coverage on shares of Parker-Hannifin Corporation in a report on Tuesday, July 11th. They issued an “outperform” rating and a $182.00 target price on the stock. Stifel Nicolaus reissued a “buy” rating and issued a $189.00 target price on shares of Parker-Hannifin Corporation in a report on Friday, July 14th. BidaskClub cut shares of Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Jefferies Group LLC reissued a “hold” rating and issued a $163.00 target price on shares of Parker-Hannifin Corporation in a report on Thursday, August 3rd. Finally, Zacks Investment Research cut shares of Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $187.58.
In related news, VP Martin C. Maxwell sold 2,640 shares of the business’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $165.67, for a total transaction of $437,368.80. Following the completion of the sale, the vice president now directly owns 31,718 shares of the company’s stock, valued at $5,254,721.06. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Joseph Scaminace sold 500 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $158.35, for a total transaction of $79,175.00. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,929 shares of company stock valued at $979,553. Insiders own 1.12% of the company’s stock.
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Parker-Hannifin Corporation (PH) opened at $185.38 on Monday. The company has a market cap of $24,692.63, a PE ratio of 21.28, a price-to-earnings-growth ratio of 1.70 and a beta of 1.40. Parker-Hannifin Corporation has a 12-month low of $119.13 and a 12-month 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 quarterly earnings results on Thursday, November 2nd. The industrial products company reported $2.24 EPS for the quarter, beating the Zacks’ consensus estimate of $2.02 by $0.22. The firm had revenue of $3.36 billion for the quarter, compared to analyst estimates of $3.31 billion. Parker-Hannifin Corporation had a net margin of 8.37% and a return on equity of 23.61%. The company’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same period in the previous year, the business earned $1.61 earnings per share. equities research analysts predict that Parker-Hannifin Corporation will post 9.37 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 10th will be paid a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.42%. The ex-dividend date of this dividend is Thursday, November 9th. Parker-Hannifin Corporation’s dividend payout ratio is presently 33.93%.
Parker-Hannifin Corporation 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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