BBR Partners LLC reduced its position in shares of Parker Hannifin (NYSE:PH) by 12.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,358 shares of the industrial products company’s stock after selling 333 shares during the period. BBR Partners LLC’s holdings in Parker Hannifin were worth $403,000 at the end of the most recent quarter.
Other institutional investors have also recently added to or reduced their stakes in the company. Jennison Associates LLC increased its position in shares of Parker Hannifin by 10.2% during the fourth quarter. Jennison Associates LLC now owns 5,650,607 shares of the industrial products company’s stock valued at $1,127,748,000 after acquiring an additional 522,942 shares during the last quarter. Longview Partners Guernsey LTD increased its position in shares of Parker Hannifin by 0.4% during the fourth quarter. Longview Partners Guernsey LTD now owns 5,437,440 shares of the industrial products company’s stock valued at $1,085,204,000 after acquiring an additional 23,982 shares during the last quarter. Geode Capital Management LLC increased its position in shares of Parker Hannifin by 2.4% during the fourth quarter. Geode Capital Management LLC now owns 1,406,700 shares of the industrial products company’s stock valued at $280,157,000 after acquiring an additional 32,531 shares during the last quarter. Thomaspartners Inc. increased its position in shares of Parker Hannifin by 1.1% during the first quarter. Thomaspartners Inc. now owns 1,347,892 shares of the industrial products company’s stock valued at $230,530,000 after acquiring an additional 15,072 shares during the last quarter. Finally, Boston Partners increased its position in shares of Parker Hannifin by 95.7% during the first quarter. Boston Partners now owns 1,266,759 shares of the industrial products company’s stock valued at $216,654,000 after acquiring an additional 619,359 shares during the last quarter. Hedge funds and other institutional investors own 80.19% of the company’s stock.
PH has been the subject of a number of recent analyst reports. Zacks Investment Research cut shares of Parker Hannifin from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. JPMorgan Chase dropped their price target on shares of Parker Hannifin from $210.00 to $199.00 and set an “overweight” rating for the company in a research report on Tuesday, April 10th. Wells Fargo reiterated a “hold” rating and set a $200.00 price target (down from $235.00) on shares of Parker Hannifin in a research report on Thursday, March 8th. Citigroup lifted 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. Finally, Robert W. Baird upgraded shares of Parker Hannifin from a “neutral” rating to an “outperform” rating and set a $203.00 price target for the company in a research report on Thursday, March 8th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $200.40.
Shares of Parker Hannifin stock opened at $182.43 on Tuesday. Parker Hannifin has a 52-week low of $152.01 and a 52-week high of $212.80. The company has a quick ratio of 1.09, a current ratio of 1.59 and a debt-to-equity ratio of 0.82. The company has a market capitalization of $23.81 billion, a P/E ratio of 22.49, a PEG ratio of 1.53 and a beta of 1.44.
Parker Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, April 26th. The industrial products company reported $2.80 earnings per share for the quarter, topping the consensus estimate of $2.62 by $0.18. The business had revenue of $3.75 billion during the quarter, compared to the consensus estimate of $3.67 billion. Parker Hannifin had a net margin of 7.16% and a return on equity of 23.63%. The company’s revenue was up 20.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.11 EPS. equities research analysts anticipate that Parker Hannifin will post 10.08 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Stockholders of record on Thursday, May 10th will be given a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a dividend yield of 1.67%. The ex-dividend date of this dividend is Wednesday, May 9th. This is an increase from Parker Hannifin’s previous quarterly dividend of $0.66. Parker Hannifin’s payout ratio is currently 37.48%.
In other news, VP Thomas C. Gentile sold 570 shares of the business’s stock in a transaction that occurred on Wednesday, May 16th. The shares were sold at an average price of $176.73, for a total transaction of $100,736.10. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Robert W. Malone sold 430 shares of the business’s stock in a transaction that occurred on Monday, April 30th. The stock was sold at an average price of $165.12, for a total transaction of $71,001.60. Following the sale, the vice president now owns 14,816 shares of the company’s stock, valued at approximately $2,446,417.92. The disclosure for this sale can be found here. Insiders have sold a total of 15,688 shares of company stock valued at $2,784,044 in the last 90 days. Insiders own 1.12% of the company’s stock.
Parker Hannifin Company Profile
Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates in two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment provides static and dynamic sealing devices; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; hydraulic, pneumatic, and electromechanical components and systems for builders and users of industrial and mobile machinery and equipment; and critical flow components for process instrumentation, healthcare, and ultra-high-purity applications, as well as components for use in refrigeration and air conditioning systems, and in fluid control applications for processing, fuel dispensing, beverage dispensing, and mobile emissions.
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