Schroder Investment Management Group lowered its position in shares of Parker-Hannifin Corp (NYSE:PH) by 21.8% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 124,096 shares of the industrial products company’s stock after selling 34,655 shares during the quarter. Schroder Investment Management Group owned about 0.09% of Parker-Hannifin worth $21,818,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Jennison Associates LLC raised its position in shares of Parker-Hannifin by 28.5% during the 2nd quarter. Jennison Associates LLC now owns 6,026,440 shares of the industrial products company’s stock worth $963,146,000 after purchasing an additional 1,336,541 shares during the period. Voya Investment Management LLC raised its position in shares of Parker-Hannifin by 1,175.0% during the 2nd quarter. Voya Investment Management LLC now owns 1,348,381 shares of the industrial products company’s stock worth $215,499,000 after purchasing an additional 1,242,624 shares during the period. Koch Industries Inc. acquired a new stake in shares of Parker-Hannifin during the 2nd quarter worth approximately $521,000. PNC Financial Services Group Inc. grew its holdings in Parker-Hannifin by 277.9% in the 2nd quarter. PNC Financial Services Group Inc. now owns 595,662 shares of the industrial products company’s stock worth $95,200,000 after buying an additional 438,035 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in Parker-Hannifin by 2,611.4% in the 2nd quarter. Janus Henderson Group PLC now owns 453,585 shares of the industrial products company’s stock worth $72,493,000 after buying an additional 436,856 shares in 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 on Tuesday, hitting $185.85. The stock had a trading volume of 757,200 shares, compared to its average volume of 994,018. The company has a market cap of $24,760.00, a price-to-earnings ratio of 21.48, a PEG ratio of 1.68 and a beta of 1.40. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 0.87. Parker-Hannifin Corp has a 1-year low of $139.49 and a 1-year high of $190.00.
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, topping the consensus estimate of $2.02 by $0.22. The business had revenue of $3.36 billion during the quarter, compared to analyst estimates of $3.31 billion. Parker-Hannifin had a return on equity of 23.61% and a net margin of 8.37%. The company’s revenue was up 22.7% compared to the same quarter last year. During the same period last year, the company posted $1.61 EPS. equities research analysts expect that Parker-Hannifin Corp will post 9.56 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 10th were paid a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 1.42%. The ex-dividend date of this dividend was Thursday, November 9th. Parker-Hannifin’s dividend payout ratio is presently 33.89%.
In other news, VP Thomas C. Gentile sold 326 shares of the stock in a transaction on Friday, November 10th. The stock was sold at an average price of $181.89, for a total value of $59,296.14. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Robert W. Bond sold 5,517 shares of the stock in a transaction on Friday, November 17th. The shares were sold at an average price of $181.72, for a total value of $1,002,549.24. Following the completion of the sale, the vice president now owns 28,265 shares of the company’s stock, valued at approximately $5,136,315.80. The disclosure for this sale can be found here. Over the last three months, insiders have sold 24,728 shares of company stock valued at $4,436,207. Corporate insiders own 1.12% of the company’s stock.
PH has been the subject of a number of recent analyst reports. Zacks Investment Research lowered Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Jefferies Group reissued a “hold” rating and issued a $165.00 price objective (up from $163.00) on shares of Parker-Hannifin in a report on Wednesday, August 9th. BidaskClub lowered Parker-Hannifin from a “hold” rating to a “sell” rating in a report on Thursday, August 10th. Robert W. Baird set a $163.00 price objective on Parker-Hannifin and gave the stock a “hold” rating in a report on Thursday, August 24th. Finally, ValuEngine raised Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the company. Parker-Hannifin has a consensus rating of “Buy” and a consensus price target of $188.95.
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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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