UBS Asset Management Americas Inc. boosted its holdings in shares of Parker-Hannifin Corp (NYSE:PH) by 84.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 784,317 shares of the industrial products company’s stock after buying an additional 358,656 shares during the period. UBS Asset Management Americas Inc.’s holdings in Parker-Hannifin were worth $156,534,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in PH. Penserra Capital Management LLC grew its stake in shares of Parker-Hannifin by 13.5% in the 3rd quarter. Penserra Capital Management LLC now owns 2,360 shares of the industrial products company’s stock worth $415,000 after acquiring an additional 280 shares in the last quarter. Stratos Wealth Partners LTD. grew its stake in shares of Parker-Hannifin by 5.5% in the 3rd quarter. Stratos Wealth Partners LTD. now owns 5,407 shares of the industrial products company’s stock worth $946,000 after acquiring an additional 280 shares in the last quarter. Bank of Stockton grew its stake in shares of Parker-Hannifin by 3.3% in the 3rd quarter. Bank of Stockton now owns 8,763 shares of the industrial products company’s stock worth $1,533,000 after acquiring an additional 281 shares in the last quarter. Sentry Investment Management LLC grew its stake in shares of Parker-Hannifin by 0.8% in the 4th quarter. Sentry Investment Management LLC now owns 34,739 shares of the industrial products company’s stock worth $6,933,000 after acquiring an additional 282 shares in the last quarter. Finally, Nippon Life Insurance Co. grew its stake in shares of Parker-Hannifin by 2.7% in the 3rd quarter. Nippon Life Insurance Co. now owns 11,068 shares of the industrial products company’s stock worth $1,937,000 after acquiring an additional 293 shares in the last quarter. Hedge funds and other institutional investors own 78.42% of the company’s stock.
In other news, VP Andrew D. Ross sold 2,056 shares of the 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 directly owns 5,207 shares of the company’s stock, valued at $1,000,472.98. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Joseph Scaminace sold 1,000 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $184.97, for a total transaction of $184,970.00. The disclosure for this sale can be found here. Corporate insiders own 1.12% of the company’s stock.
Several equities analysts recently weighed in on the stock. Citigroup increased their price target on shares of Parker-Hannifin from $195.00 to $220.00 and gave the company a “neutral” rating in a research report on Tuesday, January 30th. Robert W. Baird increased their price target on shares of Parker-Hannifin from $183.00 to $194.00 and gave the company a “neutral” rating in a research report on Friday, November 3rd. KeyCorp restated a “buy” rating and set a $205.00 price target on shares of Parker-Hannifin in a research report on Friday, November 3rd. Zacks Investment Research lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Finally, BMO Capital Markets increased their price target on shares of Parker-Hannifin from $200.00 to $205.00 and gave the company an “outperform” rating in a research report on Monday, November 6th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average target price of $202.06.
Shares of Parker-Hannifin Corp (NYSE PH) opened at $183.22 on Monday. Parker-Hannifin Corp has a fifty-two week low of $151.17 and a fifty-two week high of $212.80. The company has a market cap of $24,377.14, a PE ratio of 20.47, a price-to-earnings-growth ratio of 1.58 and a beta of 1.31. The company has a current ratio of 1.49, a quick ratio of 0.99 and a debt-to-equity ratio of 0.87.
Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.15 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same period in the prior year, the firm posted $1.91 earnings per share. The company’s revenue for the quarter was up 26.2% on a year-over-year basis. equities research analysts anticipate that Parker-Hannifin Corp will post 9.95 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Stockholders of record on Friday, February 9th will be issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.44%. The ex-dividend date is Thursday, February 8th. Parker-Hannifin’s payout ratio is 41.19%.
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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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