Ingalls & Snyder LLC decreased its holdings in Parker-Hannifin Corp (NYSE:PH) by 18.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 9,183 shares of the industrial products company’s stock after selling 2,102 shares during the quarter. Ingalls & Snyder LLC’s holdings in Parker-Hannifin were worth $1,833,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. IHT Wealth Management LLC grew its stake in shares of Parker-Hannifin by 20.8% in 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 during the last quarter. BT Investment Management Ltd bought a new stake in shares of Parker-Hannifin in the second quarter worth $124,000. Steward Partners Investment Advisory LLC bought a new stake in shares of Parker-Hannifin in the third quarter worth $168,000. Sun Life Financial INC grew its stake in shares of Parker-Hannifin by 8,108.3% in the second quarter. Sun Life Financial INC now owns 985 shares of the industrial products company’s stock worth $157,000 after purchasing an additional 973 shares during the last quarter. Finally, Americafirst Capital Management LLC bought a new stake in shares of Parker-Hannifin in the second quarter worth $167,000. 78.80% of the stock is currently owned by institutional investors.
Shares of Parker-Hannifin Corp (PH) traded up $4.09 during midday trading on Monday, hitting $180.98. 1,528,644 shares of the stock traded hands, compared to its average volume of 1,180,000. Parker-Hannifin Corp has a 52-week low of $149.05 and a 52-week high of $212.80. The firm has a market capitalization of $24,110.00, a price-to-earnings ratio of 28.15, a P/E/G ratio of 1.53 and a beta of 1.31. The company has a quick ratio of 0.99, a current ratio of 1.49 and a debt-to-equity ratio of 0.87.
Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.08. Parker-Hannifin had a net margin of 6.54% and a return on equity of 23.15%. The firm had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same quarter in the prior year, the business earned $1.91 earnings per share. The business’s quarterly revenue was up 26.2% compared to the same quarter last year. sell-side analysts forecast that Parker-Hannifin Corp will post 9.95 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Friday, February 9th will be issued a $0.66 dividend. The ex-dividend date of this dividend is Thursday, February 8th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.46%. Parker-Hannifin’s dividend payout ratio is presently 41.06%.
A number of analysts have commented on PH shares. Credit Suisse Group upped their price target 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. BMO Capital Markets reaffirmed a “buy” rating and set a $200.00 price target on shares of Parker-Hannifin in a research report on Friday, October 20th. Citigroup upped their price target on shares of Parker-Hannifin from $185.00 to $195.00 and gave the company a “neutral” rating in a research report on Friday, November 3rd. Zacks Investment Research raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating and set a $236.00 price target on the stock in a research report on Thursday, January 18th. Finally, Buckingham Research upped their price target 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. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and ten have issued a buy rating to the company’s stock. Parker-Hannifin presently has an average rating of “Hold” and a consensus target price of $200.83.
In related news, VP Andrew D. Ross sold 2,056 shares of the company’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $192.14, for a total value of $395,039.84. Following the sale, the vice president now owns 5,207 shares in the company, valued at approximately $1,000,472.98. 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 company’s stock in a transaction dated Friday, November 17th. The stock was sold at an average price of $181.72, for a total transaction of $1,002,549.24. Following the completion of the sale, the vice president now owns 28,265 shares in the company, valued at approximately $5,136,315.80. The disclosure for this sale can be found here. Insiders sold a total of 16,343 shares of company stock worth $2,982,800 in the last 90 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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