Minneapolis Portfolio Management Group LLC grew its stake in Parker-Hannifin Corp (NYSE:PH) by 4.2% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 148,763 shares of the industrial products company’s stock after purchasing an additional 6,013 shares during the quarter. Parker-Hannifin makes up about 3.3% of Minneapolis Portfolio Management Group LLC’s holdings, making the stock its 16th largest position. Minneapolis Portfolio Management Group LLC owned approximately 0.11% of Parker-Hannifin worth $27,362,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds also recently bought and sold shares of the company. Summit Trail Advisors LLC lifted its holdings in Parker-Hannifin by 20.0% during the first quarter. Summit Trail Advisors LLC now owns 2,066 shares of the industrial products company’s stock worth $220,000 after acquiring an additional 345 shares during the period. DnB Asset Management AS lifted its holdings in Parker-Hannifin by 8.2% during the second quarter. DnB Asset Management AS now owns 22,365 shares of the industrial products company’s stock worth $3,486,000 after acquiring an additional 1,700 shares during the period. IFM Investors Pty Ltd lifted its holdings in Parker-Hannifin by 46.1% during the second quarter. IFM Investors Pty Ltd now owns 6,195 shares of the industrial products company’s stock worth $965,000 after acquiring an additional 1,955 shares during the period. Campbell & CO Investment Adviser LLC lifted its holdings in Parker-Hannifin by 34.3% during the second quarter. Campbell & CO Investment Adviser LLC now owns 7,360 shares of the industrial products company’s stock worth $1,147,000 after acquiring an additional 1,878 shares during the period. Finally, Atria Investments LLC lifted its holdings in Parker-Hannifin by 33.4% during the second quarter. Atria Investments LLC now owns 1,571 shares of the industrial products company’s stock worth $245,000 after acquiring an additional 393 shares during the period. Institutional investors own 79.12% of the company’s stock.
In related news, VP Joseph R. Leonti sold 1,605 shares of the business’s stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $176.56, for a total transaction of $283,378.80. Following the completion of the transaction, the vice president now directly owns 15,731 shares in the company, valued at $2,777,465.36. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, VP William R. Bowman sold 2,400 shares of the business’s stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $175.36, for a total value of $420,864.00. Following the transaction, the vice president now owns 1,325 shares of the company’s stock, valued at $232,352. The disclosure for this sale can be found here. 1.12% of the stock is currently owned by insiders.
Shares of NYSE PH traded up $3.56 during mid-day trading on Friday, hitting $162.91. The company had a trading volume of 6,912 shares, compared to its average volume of 1,432,432. The stock has a market cap of $19.64 billion, a PE ratio of 15.59, a price-to-earnings-growth ratio of 1.15 and a beta of 1.41. Parker-Hannifin Corp has a 1 year low of $143.00 and a 1 year high of $212.80. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.08 and a current ratio of 1.59.
Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, November 1st. The industrial products company reported $2.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.53 by $0.31. The company had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.54 billion. Parker-Hannifin had a return on equity of 24.77% and a net margin of 7.42%. The firm’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same period in the previous year, the business earned $2.24 earnings per share. On average, sell-side analysts predict that Parker-Hannifin Corp will post 11.41 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Friday, November 9th will be given a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 1.87%. The ex-dividend date of this dividend is Thursday, November 8th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 29.17%.
A number of analysts recently commented on the company. Cowen lowered Parker-Hannifin from a “market perform” rating to an “underperform” rating in a report on Monday, October 15th. Barclays started coverage on Parker-Hannifin in a report on Thursday, September 6th. They set an “overweight” rating and a $200.00 price target on the stock. Deutsche Bank raised their target price on Parker-Hannifin from $176.00 to $184.00 and gave the stock a “hold” rating in a research report on Friday, September 28th. Wells Fargo & Co raised their target price on Parker-Hannifin from $185.00 to $193.00 and gave the stock a “market perform” rating in a research report on Thursday, September 27th. Finally, BMO Capital Markets reissued a “buy” rating and issued a $190.00 target price on shares of Parker-Hannifin in a research report on Thursday, July 19th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have issued a buy rating to the company. The company has a consensus rating of “Hold” and a consensus price target of $187.17.
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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