Great West Life Assurance Co. Can decreased its position in shares of Parker-Hannifin Corp (NYSE:PH) by 17.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 98,373 shares of the industrial products company’s stock after selling 21,440 shares during the period. Great West Life Assurance Co. Can owned 0.07% of Parker-Hannifin worth $17,270,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in PH. Harbour Capital Advisors LLC lifted its position in Parker-Hannifin by 10,653.6% during the 2nd quarter. Harbour Capital Advisors LLC now owns 75,275 shares of the industrial products company’s stock worth $471,000 after acquiring an additional 74,575 shares during the last quarter. Janney Montgomery Scott LLC raised its position in shares of Parker-Hannifin by 84.4% during the second quarter. Janney Montgomery Scott LLC now owns 11,595 shares of the industrial products company’s stock valued at $1,853,000 after buying an additional 5,307 shares during the last quarter. CIBC Asset Management Inc raised its position in shares of Parker-Hannifin by 1.1% during the second quarter. CIBC Asset Management Inc now owns 12,793 shares of the industrial products company’s stock valued at $2,045,000 after buying an additional 136 shares during the last quarter. CAPROCK Group Inc. acquired a new position in shares of Parker-Hannifin during the second quarter valued at about $232,000. Finally, Bessemer Group Inc. raised its position in shares of Parker-Hannifin by 79.8% during the second quarter. Bessemer Group Inc. now owns 1,370 shares of the industrial products company’s stock valued at $219,000 after buying an additional 608 shares during the last quarter. 78.26% of the stock is owned by hedge funds and other institutional investors.
Parker-Hannifin Corp (NYSE PH) traded down $0.44 during midday trading on Friday, reaching $187.05. 718,918 shares of the company were exchanged, compared to its average volume of 669,698. The company has a market capitalization of $24,860.00, a PE ratio of 21.53, a P/E/G ratio of 1.68 and a beta of 1.40. Parker-Hannifin Corp has a twelve month low of $139.49 and a twelve month 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.
Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, November 2nd. The industrial products company reported $2.24 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.02 by $0.22. The business had revenue of $3.36 billion for the quarter, compared to analysts’ expectations of $3.31 billion. Parker-Hannifin had a net margin of 8.37% and a return on equity of 23.61%. The firm’s revenue for the quarter was up 22.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.61 earnings per share. equities analysts predict that Parker-Hannifin Corp will post 9.56 EPS for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 10th were paid a dividend of $0.66 per share. The ex-dividend date of this dividend was Thursday, November 9th. This represents a $2.64 annualized dividend and a yield of 1.41%. Parker-Hannifin’s dividend payout ratio is 33.89%.
A number of research analysts have recently commented on the stock. ValuEngine lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Friday. Buckingham Research upped their price objective on shares of Parker-Hannifin from $205.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. Credit Suisse Group upped their price objective on shares of Parker-Hannifin from $205.00 to $206.00 and gave the company an “outperform” rating in a research report on Friday, November 3rd. Robert W. Baird upped their price objective on shares of Parker-Hannifin from $183.00 to $194.00 and gave the company a “neutral” rating in a research report on Friday, November 3rd. Finally, Jefferies Group upped their price objective on shares of Parker-Hannifin from $175.00 to $185.00 and gave the company a “hold” rating in a research report on Friday, November 3rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the company’s stock. Parker-Hannifin has a consensus rating of “Buy” and a consensus target price of $188.95.
In other Parker-Hannifin news, COO Lee C. Banks sold 5,286 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $186.38, for a total transaction of $985,204.68. Following the sale, the chief operating officer now directly owns 112,808 shares of the company’s stock, valued at $21,025,155.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Thomas C. Gentile sold 326 shares of the company’s stock in a transaction dated Friday, November 10th. The stock was sold at an average price of $181.89, for a total transaction of $59,296.14. The disclosure for this sale can be found here. Insiders have sold 24,728 shares of company stock worth $4,436,207 over the last ninety days. Insiders own 1.12% of the company’s stock.
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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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