The Manufacturers Life Insurance Company boosted its holdings in Parker-Hannifin Corp (NYSE:PH) by 0.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 154,437 shares of the industrial products company’s stock after acquiring an additional 790 shares during the period. The Manufacturers Life Insurance Company owned about 0.12% of Parker-Hannifin worth $30,822,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Emerald Advisers Inc. PA bought a new position in Parker-Hannifin in the third quarter worth about $1,527,000. Cubist Systematic Strategies LLC lifted its holdings in Parker-Hannifin by 154.0% in the third quarter. Cubist Systematic Strategies LLC now owns 6,820 shares of the industrial products company’s stock worth $1,194,000 after acquiring an additional 4,135 shares during the last quarter. IFM Investors Pty Ltd bought a new position in Parker-Hannifin in the third quarter worth about $713,000. Private Advisor Group LLC lifted its holdings in Parker-Hannifin by 58.2% in the third quarter. Private Advisor Group LLC now owns 5,554 shares of the industrial products company’s stock worth $984,000 after acquiring an additional 2,043 shares during the last quarter. Finally, Alyeska Investment Group L.P. lifted its holdings in Parker-Hannifin by 28.1% in the third quarter. Alyeska Investment Group L.P. now owns 603,491 shares of the industrial products company’s stock worth $105,623,000 after acquiring an additional 132,381 shares during the last quarter. 78.42% of the stock is currently owned by hedge funds and other institutional investors.
Parker-Hannifin Corp (NYSE PH) opened at $181.30 on Thursday. Parker-Hannifin Corp has a 12 month low of $151.17 and a 12 month high of $212.80. The company has a current ratio of 1.49, a quick ratio of 0.99 and a debt-to-equity ratio of 0.87. The company has a market cap of $24,162.94, a P/E ratio of 28.28, a P/E/G ratio of 1.57 and a beta of 1.31.
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, beating the Zacks’ 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 business had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same quarter last year, the business earned $1.91 earnings per share. The business’s revenue for the quarter was up 26.2% on a year-over-year basis. research analysts expect that Parker-Hannifin Corp will post 9.95 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Friday, February 9th will be paid a dividend of $0.66 per share. 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 41.19%.
A number of research firms have recently weighed in on PH. Stifel Nicolaus reaffirmed a “buy” rating and set a $245.00 price target (up previously from $218.00) on shares of Parker-Hannifin in a report on Tuesday, January 16th. ValuEngine cut Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Credit Suisse Group lifted their price target on Parker-Hannifin from $205.00 to $206.00 and gave the company an “outperform” rating in a report on Friday, November 3rd. Buckingham Research lifted their price target on Parker-Hannifin from $205.00 to $210.00 and gave the company a “buy” rating in a report on Friday, November 3rd. Finally, BMO Capital Markets lifted their price target on Parker-Hannifin to $225.00 and gave the company an “outperform” rating in a report on Thursday, January 4th. One investment 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 company has a consensus rating of “Hold” and a consensus price target of $202.06.
In related news, Director Joseph Scaminace sold 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $184.97, for a total transaction of $184,970.00. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, VP Andrew D. Ross sold 2,056 shares of Parker-Hannifin stock in a transaction that occurred on Friday, December 8th. The stock was sold at an average price of $192.14, for a total transaction of $395,039.84. Following the completion of the transaction, the vice president now owns 5,207 shares in the company, valued at approximately $1,000,472.98. The disclosure for this sale can be found here. 1.12% of the stock is owned by company 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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