Atlantic Trust Group LLC raised its position in shares of Parker-Hannifin Corp (NYSE:PH) by 44.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 80,227 shares of the industrial products company’s stock after purchasing an additional 24,839 shares during the period. Atlantic Trust Group LLC owned 0.06% of Parker-Hannifin worth $14,041,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Israel Discount Bank of New York boosted its holdings in shares of Parker-Hannifin by 31.6% in the second quarter. Israel Discount Bank of New York now owns 625 shares of the industrial products company’s stock worth $100,000 after acquiring an additional 150 shares during the period. Parallel Advisors LLC boosted its holdings in shares of Parker-Hannifin by 4.1% in the second quarter. Parallel Advisors LLC now owns 612 shares of the industrial products company’s stock worth $102,000 after acquiring an additional 24 shares during the period. IHT Wealth Management LLC boosted its holdings in shares of Parker-Hannifin by 20.8% in the second quarter. IHT Wealth Management LLC now owns 116 shares of the industrial products company’s stock worth $119,000 after acquiring an additional 20 shares during the period. BT Investment Management Ltd bought a new position in shares of Parker-Hannifin in the second quarter worth $124,000. Finally, Sun Life Financial INC boosted its holdings in shares of Parker-Hannifin by 8,108.3% in the second quarter. Sun Life Financial INC now owns 985 shares of the industrial products company’s stock worth $157,000 after acquiring an additional 973 shares during the period. 78.04% of the stock is owned by institutional investors and hedge funds.
In other Parker-Hannifin news, COO Lee C. Banks sold 5,286 shares of the firm’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $186.38, for a total transaction of $985,204.68. Following the sale, the chief operating officer now owns 112,808 shares in the company, valued at $21,025,155.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Robert W. Bond sold 5,517 shares of the firm’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $181.72, for a total value of $1,002,549.24. Following the sale, the vice president now owns 28,265 shares in the company, valued at approximately $5,136,315.80. The disclosure for this sale can be found here. Insiders have sold 22,495 shares of company stock valued at $4,127,941 in the last three months. 1.12% of the stock is owned by corporate insiders.
Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, November 2nd. The industrial products company reported $2.24 earnings per share (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 analyst estimates of $3.31 billion. Parker-Hannifin had a return on equity of 23.61% and a net margin of 8.37%. The firm’s quarterly revenue was up 22.7% on a year-over-year basis. During the same quarter last year, the company earned $1.61 earnings per share. equities analysts expect that Parker-Hannifin Corp will post 9.57 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 10th were paid a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend was Thursday, November 9th. Parker-Hannifin’s dividend payout ratio is 33.89%.
A number of research firms have recently commented on PH. Robert W. Baird raised their price target on Parker-Hannifin from $183.00 to $194.00 and gave the stock a “neutral” rating in a report on Friday, November 3rd. ValuEngine lowered Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Tuesday, October 10th. Citigroup raised their price target on Parker-Hannifin from $175.00 to $185.00 and gave the stock a “neutral” rating in a report on Friday, October 13th. KeyCorp reaffirmed a “buy” rating and issued a $200.00 price target on shares of Parker-Hannifin in a report on Thursday, October 12th. Finally, Buckingham Research began coverage on Parker-Hannifin in a report on Tuesday, October 17th. They issued a “buy” rating and a $205.00 price target for the company. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus price target of $188.95.
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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