Parker-Hannifin Corporation (NYSE:PH) Shares Bought by Korea Investment CORP

Korea Investment CORP raised its position in Parker-Hannifin Corporation (NYSE:PH) by 2.8% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 320,864 shares of the industrial products company’s stock after buying an additional 8,800 shares during the period. Korea Investment CORP owned about 0.24% of Parker-Hannifin Corporation worth $56,158,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Bronfman E.L. Rothschild L.P. increased its holdings in Parker-Hannifin Corporation by 1.2% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,306 shares of the industrial products company’s stock valued at $209,000 after buying an additional 15 shares in the last quarter. IHT Wealth Management LLC increased its stake in shares of Parker-Hannifin Corporation by 20.8% during the second quarter. IHT Wealth Management LLC now owns 116 shares of the industrial products company’s stock worth $119,000 after purchasing an additional 20 shares in the last quarter. Parallel Advisors LLC increased its stake in shares of Parker-Hannifin Corporation by 4.1% during the second quarter. Parallel Advisors LLC now owns 612 shares of the industrial products company’s stock worth $102,000 after purchasing an additional 24 shares in the last quarter. People s United Financial Inc. increased its stake in shares of Parker-Hannifin Corporation by 0.5% during the second quarter. People s United Financial Inc. now owns 6,079 shares of the industrial products company’s stock worth $972,000 after purchasing an additional 31 shares in the last quarter. Finally, Calamos Wealth Management LLC increased its stake in shares of Parker-Hannifin Corporation by 0.4% during the second quarter. Calamos Wealth Management LLC now owns 8,144 shares of the industrial products company’s stock worth $1,302,000 after purchasing an additional 34 shares in the last quarter. 79.64% of the stock is owned by institutional investors.



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Shares of Parker-Hannifin Corporation (PH) traded down $0.11 during trading hours on Friday, hitting $182.23. 409,500 shares of the company’s stock were exchanged, compared to its average volume of 1,019,285. Parker-Hannifin Corporation has a 52 week low of $134.03 and a 52 week high of $189.83. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.95 and a current ratio of 1.44. The stock has a market cap of $24,292.45, a P/E ratio of 20.93, a PEG ratio of 1.64 and a beta of 1.40.

Parker-Hannifin Corporation (NYSE:PH) last announced its quarterly earnings data 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. Parker-Hannifin Corporation had a net margin of 8.37% and a return on equity of 23.61%. The company had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $3.31 billion. During the same period in the prior year, the firm posted $1.61 EPS. The company’s quarterly revenue was up 22.7% compared to the same quarter last year. research analysts expect that Parker-Hannifin Corporation will post 9.55 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 10th will be given a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.45%. The ex-dividend date is Thursday, November 9th. Parker-Hannifin Corporation’s dividend payout ratio is presently 33.93%.

In other news, VP Joseph R. Leonti sold 408 shares of the company’s stock in a transaction on Wednesday, September 6th. The shares were sold at an average price of $160.70, for a total value of $65,565.60. Following the completion of the transaction, the vice president now owns 7,318 shares in the company, valued at approximately $1,176,002.60. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, COO Lee C. Banks sold 5,286 shares of the company’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $186.38, for a total transaction of $985,204.68. Following the completion of the transaction, the chief operating officer now owns 112,808 shares of the company’s stock, valued at approximately $21,025,155.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 11,215 shares of company stock worth $1,964,758. Insiders own 1.12% of the company’s stock.

A number of equities analysts recently weighed in on PH shares. Zacks Investment Research upgraded shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating and set a $208.00 price target on the stock in a research report on Tuesday. BMO Capital Markets boosted their price target on shares of Parker-Hannifin Corporation from $200.00 to $205.00 and gave the stock an “outperform” rating in a research report on Monday, November 6th. KeyCorp restated a “buy” rating and set a $205.00 price target on shares of Parker-Hannifin Corporation in a research report on Friday, November 3rd. Citigroup Inc. boosted their price target on shares of Parker-Hannifin Corporation from $185.00 to $195.00 and gave the stock a “neutral” rating in a research report on Friday, November 3rd. Finally, Stifel Nicolaus reiterated a “buy” rating and issued a $210.00 target price on shares of Parker-Hannifin Corporation in a report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and a consensus target price of $188.37.

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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