Citizens Financial Group Inc. RI lessened its position in Parker-Hannifin Corp (NYSE:PH) by 4.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 42,731 shares of the industrial products company’s stock after selling 1,998 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Parker-Hannifin were worth $7,479,000 at the end of the most recent reporting period.
Several other hedge funds have also recently bought and sold shares of the stock. Israel Discount Bank of New York increased its holdings in shares of Parker-Hannifin 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 last quarter. Parallel Advisors LLC increased its holdings in shares of Parker-Hannifin by 4.1% in the 2nd quarter. Parallel Advisors LLC now owns 612 shares of the industrial products company’s stock valued at $102,000 after acquiring an additional 24 shares during the last quarter. IHT Wealth Management LLC increased its holdings in shares of Parker-Hannifin by 20.8% in the 2nd quarter. IHT Wealth Management LLC now owns 116 shares of the industrial products company’s stock valued at $119,000 after acquiring an additional 20 shares during the last quarter. BT Investment Management Ltd purchased a new position in shares of Parker-Hannifin in the 2nd quarter valued at about $124,000. Finally, Sun Life Financial INC increased its holdings in shares of Parker-Hannifin by 8,108.3% in the 2nd quarter. Sun Life Financial INC now owns 985 shares of the industrial products company’s stock valued at $157,000 after acquiring an additional 973 shares during the last quarter. Hedge funds and other institutional investors own 78.24% of the company’s stock.
Parker-Hannifin Corp (NYSE PH) traded down $1.20 during midday trading on Tuesday, reaching $185.85. The company had a trading volume of 757,200 shares, compared to its average volume of 994,018. Parker-Hannifin Corp has a 12-month low of $139.49 and a 12-month high of $190.00. The stock has a market cap of $24,760.00, a P/E ratio of 21.48, a P/E/G ratio of 1.68 and a beta of 1.40. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 0.87.
Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, November 2nd. The industrial products company reported $2.24 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.22. Parker-Hannifin had a return on equity of 23.61% and a net margin of 8.37%. The firm had revenue of $3.36 billion during the quarter, compared to the consensus estimate of $3.31 billion. During the same period last year, the business posted $1.61 EPS. Parker-Hannifin’s quarterly revenue was up 22.7% on a year-over-year basis. equities research analysts anticipate that Parker-Hannifin Corp will post 9.56 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 10th were paid a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 1.42%. The ex-dividend date was Thursday, November 9th. Parker-Hannifin’s payout ratio is currently 33.89%.
A number of research analysts have recently commented on the company. ValuEngine downgraded Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Friday. Buckingham Research upped their target price on 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 target price on 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 target price on 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 target price on Parker-Hannifin from $175.00 to $185.00 and gave the company a “hold” rating in a research report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $188.95.
In other Parker-Hannifin news, VP Joseph R. Leonti sold 408 shares of the firm’s stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $160.70, for a total transaction of $65,565.60. Following the completion of the transaction, the vice president now owns 7,318 shares of the company’s stock, valued at $1,176,002.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Lee C. Banks sold 5,286 shares of the firm’s stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $186.38, for a total value of $985,204.68. Following the transaction, the chief operating officer now directly 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. Insiders sold a total of 24,728 shares of company stock valued at $4,436,207 over the last ninety days. 1.12% of the stock is currently owned by company insiders.
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Parker-Hannifin 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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