Westpac Banking Corp lessened its stake in Parker-Hannifin Corp (NYSE:PH) by 22.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,970 shares of the industrial products company’s stock after selling 9,600 shares during the period. Westpac Banking Corp’s holdings in Parker-Hannifin were worth $6,780,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Other institutional investors and hedge funds have also made changes to their positions in the company. IHT Wealth Management LLC raised its holdings in Parker-Hannifin 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. People s United Financial Inc. increased its holdings in Parker-Hannifin by 0.5% in the second quarter. People s United Financial Inc. now owns 6,079 shares of the industrial products company’s stock valued at $972,000 after buying an additional 31 shares in the last quarter. National Asset Management Inc. increased its stake in shares of Parker-Hannifin by 4.7% during the 2nd quarter. National Asset Management Inc. now owns 1,432 shares of the industrial products company’s stock worth $229,000 after purchasing an additional 64 shares in the last quarter. Suntrust Banks Inc. increased its stake in shares of Parker-Hannifin by 0.8% during the 2nd quarter. Suntrust Banks Inc. now owns 22,244 shares of the industrial products company’s stock worth $3,553,000 after purchasing an additional 172 shares in the last quarter. Finally, Logan Capital Management Inc. increased its stake in shares of Parker-Hannifin by 14.8% during the 2nd quarter. Logan Capital Management Inc. now owns 1,524 shares of the industrial products company’s stock worth $244,000 after purchasing an additional 197 shares in the last quarter. Institutional investors and hedge funds own 78.80% of the company’s stock.
PH has been the topic of a number of analyst reports. Citigroup raised their target price on shares of Parker-Hannifin from $195.00 to $220.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 30th. Robert W. Baird lifted their price target on shares of Parker-Hannifin from $183.00 to $194.00 and gave the company a “neutral” rating in a report on Friday, November 3rd. Buckingham Research assumed coverage on shares of Parker-Hannifin in a research note on Tuesday, October 17th. They set a “buy” rating and a $205.00 target price for the company. KeyCorp reissued a “buy” rating and set a $205.00 target price on shares of Parker-Hannifin in a research note on Friday, November 3rd. Finally, Zacks Investment Research lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Wednesday, January 31st. One research analyst has rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company. The company has an average rating of “Hold” and a consensus price target of $200.83.
Parker-Hannifin Corp (NYSE PH) traded up $4.18 during mid-day trading on Monday, reaching $180.98. 1,530,000 shares of the company’s stock traded hands, compared to its average volume of 1,180,000. The company has a market capitalization of $24,110.00, a P/E ratio of 28.15, a price-to-earnings-growth ratio of 1.53 and a beta of 1.31. Parker-Hannifin Corp has a 12 month low of $149.05 and a 12 month high of $212.80. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.49 and a quick ratio of 0.99.
Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.07 by $0.08. Parker-Hannifin had a net margin of 6.54% and a return on equity of 23.15%. The company had revenue of $3.37 billion during the quarter, compared to analysts’ expectations of $3.33 billion. During the same quarter in the prior year, the company posted $1.91 EPS. The business’s revenue was up 26.2% on a year-over-year basis. sell-side analysts expect that Parker-Hannifin Corp will post 9.95 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Friday, February 9th will be given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date is Thursday, February 8th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 41.06%.
In other Parker-Hannifin news, VP Robert W. Bond sold 5,517 shares of the stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $181.72, for a total transaction of $1,002,549.24. Following the sale, the vice president now owns 28,265 shares of the company’s stock, valued at approximately $5,136,315.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Joseph R. Leonti sold 5,279 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $179.07, for a total transaction of $945,310.53. Following the completion of the transaction, the vice president now directly owns 8,032 shares in the company, valued at approximately $1,438,290.24. The disclosure for this sale can be found here. Insiders have sold a total of 16,343 shares of company stock valued at $2,982,800 in the last quarter. 1.12% of the stock is currently owned by corporate insiders.
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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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