Centre Asset Management LLC lifted its position in Parker-Hannifin Corporation (NYSE:PH) by 18.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 50,780 shares of the industrial products company’s stock after acquiring an additional 7,970 shares during the period. Parker-Hannifin Corporation makes up approximately 2.3% of Centre Asset Management LLC’s holdings, making the stock its 17th biggest holding. Centre Asset Management LLC’s holdings in Parker-Hannifin Corporation were worth $8,888,000 at the end of the most recent reporting period.
Other large investors have also recently made changes to their positions in the company. Israel Discount Bank of New York raised its position 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 valued at $100,000 after acquiring an additional 150 shares during the period. Parallel Advisors LLC raised its holdings in Parker-Hannifin Corporation by 4.1% during 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 during the period. Harbour Capital Advisors LLC acquired a new stake in Parker-Hannifin Corporation during the 1st quarter worth approximately $112,000. IHT Wealth Management LLC raised its holdings in Parker-Hannifin Corporation by 20.8% during 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 during the period. Finally, BT Investment Management Ltd acquired a new stake in Parker-Hannifin Corporation during the 2nd quarter worth approximately $124,000. Institutional investors and hedge funds own 79.37% of the company’s stock.
In related news, Director Joseph Scaminace sold 500 shares of the stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $158.35, for a total value of $79,175.00. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, EVP Mark J. Hart sold 600 shares of the stock in a transaction that occurred on Thursday, August 31st. The stock was sold at an average price of $160.72, for a total value of $96,432.00. Following the completion of the transaction, the executive vice president now directly owns 5,851 shares in the company, valued at approximately $940,372.72. The disclosure for this sale can be found here. In the last three months, insiders sold 5,389 shares of company stock worth $878,913. 1.12% of the stock is owned by insiders.
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Several equities analysts recently weighed in on PH shares. 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 research note on Wednesday, August 9th. Zacks Investment Research cut shares of Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Buckingham Research began coverage on shares of Parker-Hannifin Corporation in a research report on Tuesday, October 17th. They set a “buy” rating and a $205.00 price objective for the company. BidaskClub cut shares of Parker-Hannifin Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Finally, Citigroup Inc. lifted their price objective on shares of Parker-Hannifin Corporation from $175.00 to $185.00 and gave the stock a “neutral” rating in a research report on Friday, October 13th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the stock. The company has an average rating of “Buy” and an average target price of $182.21.
Shares of Parker-Hannifin Corporation (NYSE:PH) traded down 0.09% during mid-day trading on Friday, reaching $184.67. The company had a trading volume of 162,874 shares. The firm has a market capitalization of $24.58 billion, a PE ratio of 25.47 and a beta of 1.42. The stock has a 50 day moving average price of $175.38 and a 200 day moving average price of $163.79. Parker-Hannifin Corporation has a 12-month low of $118.77 and a 12-month high of $185.52.
Parker-Hannifin Corporation (NYSE:PH) last issued its quarterly earnings results on Thursday, August 3rd. The industrial products company reported $2.45 earnings per share for the quarter, topping the 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 for the quarter, compared to the consensus estimate of $3.52 billion. During the same period in the prior year, the business posted $1.90 earnings per share. The company’s revenue for the quarter was up 18.2% on a year-over-year basis. On average, equities analysts forecast that Parker-Hannifin Corporation will post $9.14 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 10th will be paid a $0.66 dividend. The ex-dividend date is Thursday, November 9th. This represents a $2.64 annualized dividend and a yield of 1.43%. Parker-Hannifin Corporation’s dividend payout ratio (DPR) is currently 36.51%.
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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