MUFG Americas Holdings Corp increased its position in Parker-Hannifin Corp (NYSE:PH) by 28.9% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 17,790 shares of the industrial products company’s stock after acquiring an additional 3,989 shares during the period. MUFG Americas Holdings Corp’s holdings in Parker-Hannifin were worth $3,551,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds also recently made changes to their positions in the company. San Francisco Sentry Investment Group CA raised its stake in Parker-Hannifin by 139.3% during the 4th quarter. San Francisco Sentry Investment Group CA now owns 579 shares of the industrial products company’s stock valued at $116,000 after buying an additional 337 shares during the last quarter. Steward Partners Investment Advisory LLC purchased a new stake in Parker-Hannifin during the 3rd quarter valued at $168,000. Advisory Services Network LLC raised its stake in Parker-Hannifin by 145.6% during the 2nd quarter. Advisory Services Network LLC now owns 1,191 shares of the industrial products company’s stock valued at $190,000 after buying an additional 706 shares during the last quarter. SeaCrest Wealth Management LLC purchased a new stake in Parker-Hannifin during the 4th quarter valued at $197,000. Finally, Tiedemann Wealth Management LLC raised its stake in Parker-Hannifin by 95.6% during the 3rd quarter. Tiedemann Wealth Management LLC now owns 3,050 shares of the industrial products company’s stock valued at $201,000 after buying an additional 1,491 shares during the last quarter. Institutional investors and hedge funds own 78.80% of the company’s stock.
A number of equities research analysts have weighed in on PH shares. BMO Capital Markets reiterated a “buy” rating and set a $200.00 target price on shares of Parker-Hannifin in a research note on Friday, October 20th. Cowen reiterated a “hold” rating and set a $155.00 target price on shares of Parker-Hannifin in a research note on Sunday, October 29th. Buckingham Research boosted their target price on shares of Parker-Hannifin from $205.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, November 3rd. Credit Suisse Group boosted their target price on shares of Parker-Hannifin from $205.00 to $206.00 and gave the company an “outperform” rating in a research note on Friday, November 3rd. Finally, Robert W. Baird boosted their target price on shares of Parker-Hannifin from $183.00 to $194.00 and gave the company a “neutral” rating in a research note on Friday, November 3rd. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. Parker-Hannifin currently has a consensus rating of “Hold” and an average price target of $202.06.
Shares of Parker-Hannifin Corp (NYSE PH) opened at $183.22 on Friday. The company has a quick ratio of 0.99, a current ratio of 1.49 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $24,564.74, a price-to-earnings ratio of 20.63, a PEG ratio of 1.59 and a beta of 1.31. Parker-Hannifin Corp has a 12 month low of $151.17 and a 12 month high of $212.80.
Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.15 EPS for the quarter, topping the consensus estimate of $2.07 by $0.08. The firm had revenue of $3.37 billion during the quarter, compared to analyst estimates of $3.33 billion. Parker-Hannifin had a return on equity of 23.15% and a net margin of 6.54%. Parker-Hannifin’s revenue was up 26.2% on a year-over-year basis. During the same period in the prior year, the business posted $1.91 EPS. research analysts anticipate 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 issued a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 1.44%. The ex-dividend date of this dividend is Thursday, February 8th. Parker-Hannifin’s dividend payout ratio is currently 41.19%.
In related news, Director Joseph Scaminace sold 1,000 shares of the company’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $184.97, for a total value of $184,970.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Linda S. Harty sold 3,491 shares of the company’s stock in a transaction on Monday, November 20th. The stock was sold at an average price of $183.30, for a total transaction of $639,900.30. Following the completion of the transaction, the director now directly owns 9,727 shares of the company’s stock, valued at approximately $1,782,959.10. The disclosure for this sale can be found here. Insiders sold a total of 6,547 shares of company stock valued at $1,219,910 in the last ninety days. 1.12% of the stock is currently owned by 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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