Boston Common Asset Management LLC increased its position in Parker-Hannifin Corp (NYSE:PH) by 20.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 3,651 shares of the industrial products company’s stock after acquiring an additional 620 shares during the quarter. Boston Common Asset Management LLC’s holdings in Parker-Hannifin were worth $729,000 at the end of the most recent quarter.
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% in the fourth quarter. San Francisco Sentry Investment Group CA now owns 579 shares of the industrial products company’s stock valued at $116,000 after purchasing an additional 337 shares in the last quarter. Steward Partners Investment Advisory LLC purchased a new position in shares of Parker-Hannifin during the third quarter worth approximately $168,000. SeaCrest Wealth Management LLC purchased a new position in shares of Parker-Hannifin during the fourth quarter worth approximately $197,000. Ballentine Partners LLC purchased a new position in shares of Parker-Hannifin during the fourth quarter worth approximately $211,000. Finally, Shelton Capital Management purchased a new position in shares of Parker-Hannifin during the fourth quarter worth approximately $219,000. 78.42% of the stock is currently owned by institutional investors and hedge funds.
In other Parker-Hannifin news, VP Andrew D. Ross sold 2,056 shares of the business’s stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $192.14, for a total value of $395,039.84. Following the completion of the transaction, the vice president now owns 5,207 shares of the company’s stock, valued at approximately $1,000,472.98. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Joseph Scaminace sold 1,000 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $184.97, for a total value of $184,970.00. The disclosure for this sale can be found here. Insiders own 1.12% of the company’s stock.
Several research analysts recently commented on PH shares. Cowen reaffirmed a “hold” rating and issued a $155.00 target price on shares of Parker-Hannifin in a research note on Sunday, October 29th. Citigroup lifted their target price on shares of Parker-Hannifin from $185.00 to $195.00 and gave the stock a “neutral” rating in a research note on Friday, November 3rd. Robert W. Baird lifted their target price on shares of Parker-Hannifin from $183.00 to $194.00 and gave the stock a “neutral” rating in a research note on Friday, November 3rd. Buckingham Research reaffirmed a “neutral” rating and issued a $210.00 target price on shares of Parker-Hannifin in a research note on Friday, January 19th. They noted that the move was a valuation call. Finally, BMO Capital Markets lifted their target price on shares of Parker-Hannifin from $200.00 to $205.00 and gave the stock an “outperform” rating in a research note on Monday, November 6th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued 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 Tuesday. 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 price-to-earnings ratio of 20.47, a PEG 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 the Zacks’ consensus estimate of $2.07 by $0.08. The company had revenue of $3.37 billion for the quarter, compared to analysts’ expectations of $3.33 billion. Parker-Hannifin had a net margin of 6.54% and a return on equity of 23.15%. Parker-Hannifin’s revenue was up 26.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.91 EPS. sell-side analysts forecast that Parker-Hannifin Corp will post 9.95 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Friday, February 9th will be paid a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend 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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