Public Employees Retirement System of Ohio lessened its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 1.7% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 79,744 shares of the industrial products company’s stock after selling 1,402 shares during the quarter. Public Employees Retirement System of Ohio owned about 0.06% of Parker-Hannifin Corporation worth $12,745,000 at the end of the most recent reporting period.
Several other large investors also recently modified their holdings of the company. Tredje AP fonden grew its stake in shares of Parker-Hannifin Corporation by 146.9% during the 2nd 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 period. Two Sigma Securities LLC acquired a new position in shares of Parker-Hannifin Corporation during the 1st quarter worth $785,000. Koch Industries Inc. acquired a new position in shares of Parker-Hannifin Corporation during the 2nd quarter worth $521,000. Bank of Nova Scotia grew its stake in Parker-Hannifin Corporation by 943.9% in the 1st quarter. Bank of Nova Scotia now owns 30,535 shares of the industrial products company’s stock valued at $4,896,000 after acquiring an additional 27,610 shares during the last quarter. Finally, Sand Hill Global Advisors LLC acquired a new stake in Parker-Hannifin Corporation in the 2nd quarter valued at about $4,194,000. Institutional investors and hedge funds own 79.37% of the company’s stock.
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In other Parker-Hannifin Corporation news, VP Martin C. Maxwell sold 2,640 shares of Parker-Hannifin Corporation stock in a transaction dated Tuesday, September 12th. The stock was sold at an average price of $165.67, for a total transaction of $437,368.80. Following the transaction, the vice president now directly owns 31,718 shares of the company’s stock, valued at approximately $5,254,721.06. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Joseph R. Leonti sold 408 shares of Parker-Hannifin Corporation stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $160.70, for a total value of $65,565.60. Following the transaction, the vice president now directly owns 7,318 shares in the company, valued at $1,176,002.60. The disclosure for this sale can be found here. Insiders have sold a total of 5,389 shares of company stock worth $878,913 in the last 90 days. 1.12% of the stock is currently owned by corporate insiders.
Shares of Parker-Hannifin Corporation (NYSE PH) traded down 0.75% during midday trading on Friday, hitting $183.45. 83,663 shares of the company were exchanged. The company’s 50 day moving average price is $175.38 and its 200 day moving average price is $163.79. The firm has a market cap of $24.42 billion, a P/E ratio of 25.30 and a beta of 1.42. Parker-Hannifin Corporation has a one year low of $118.77 and a one year high of $185.52.
Parker-Hannifin Corporation (NYSE:PH) last issued its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $2.45 earnings per share for the quarter, topping analysts’ consensus estimates of $2.31 by $0.14. The business had revenue of $3.50 billion for the quarter, compared to analyst estimates of $3.52 billion. Parker-Hannifin Corporation had a return on equity of 22.90% and a net margin of 8.18%. Parker-Hannifin Corporation’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.90 EPS. Equities analysts expect that Parker-Hannifin Corporation will post $9.14 EPS 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 given a dividend of $0.66 per share. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $2.64 dividend on an annualized basis and a yield of 1.43%. Parker-Hannifin Corporation’s dividend payout ratio is currently 36.51%.
A number of equities research analysts recently commented on the stock. Wolfe Research started coverage on shares of Parker-Hannifin Corporation in a research note on Tuesday, July 11th. They issued an “outperform” rating and a $182.00 price objective on the stock. Morgan Stanley lowered shares of Parker-Hannifin Corporation from an “overweight” rating to an “equal weight” rating and set a $188.00 price objective on the stock. in a report on Monday, October 2nd. KeyCorp restated an “overweight” rating and issued a $185.00 price target on shares of Parker-Hannifin Corporation in a report on Saturday, September 16th. Zacks Investment Research lowered shares of Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Finally, Stifel Nicolaus restated a “buy” rating and issued a $198.00 price target on shares of Parker-Hannifin Corporation in a report on Friday, October 13th. One analyst has rated the stock with a sell rating, nine have given a hold rating and fifteen have given a buy rating to the company’s stock. Parker-Hannifin Corporation currently has an average rating of “Buy” and an average price target of $182.21.
Parker-Hannifin Corporation Company 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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