Signition LP Invests $267,000 in Parker-Hannifin Corp (PH)

Signition LP bought a new stake in Parker-Hannifin Corp (NYSE:PH) in the 3rd quarter, HoldingsChannel reports. The firm bought 1,450 shares of the industrial products company’s stock, valued at approximately $267,000.

Several other institutional investors also recently modified their holdings of the company. Bbva Compass Bancshares Inc. increased its holdings in Parker-Hannifin by 1.0% during the 2nd quarter. Bbva Compass Bancshares Inc. now owns 31,180 shares of the industrial products company’s stock valued at $4,859,000 after acquiring an additional 318 shares in the last quarter. MUFG Americas Holdings Corp increased its holdings in Parker-Hannifin by 1.5% during the 2nd quarter. MUFG Americas Holdings Corp now owns 22,152 shares of the industrial products company’s stock valued at $3,452,000 after acquiring an additional 326 shares in the last quarter. Stokes Capital Advisors LLC increased its holdings in Parker-Hannifin by 2.9% during the 3rd quarter. Stokes Capital Advisors LLC now owns 11,780 shares of the industrial products company’s stock valued at $2,167,000 after acquiring an additional 330 shares in the last quarter. Riverhead Capital Management LLC increased its holdings in Parker-Hannifin by 6.3% during the 2nd quarter. Riverhead Capital Management LLC now owns 5,697 shares of the industrial products company’s stock valued at $888,000 after acquiring an additional 338 shares in the last quarter. Finally, Armbruster Capital Management Inc. increased its holdings in Parker-Hannifin by 34.6% during the 2nd quarter. Armbruster Capital Management Inc. now owns 1,362 shares of the industrial products company’s stock valued at $212,000 after acquiring an additional 350 shares in the last quarter. Institutional investors and hedge funds own 79.34% of the company’s stock.

Several equities analysts have weighed in on PH shares. MED downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating and set a $169.00 target price for the company. in a report on Thursday, July 12th. Deutsche Bank set a $169.00 target price on shares of Parker-Hannifin and gave the company a “hold” rating in a report on Thursday, July 12th. Goldman Sachs Group cut shares of Parker-Hannifin from a “buy” rating to a “neutral” rating and set a $164.00 price target on the stock. in a research note on Monday, July 16th. Jefferies Financial Group reaffirmed a “$162.10” rating and set a $170.00 price target on shares of Parker-Hannifin in a research note on Wednesday, July 18th. Finally, BMO Capital Markets reaffirmed a “buy” rating and set a $190.00 price target on shares of Parker-Hannifin in a research note on Thursday, July 19th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $187.06.

In other news, VP Joseph R. Leonti sold 1,605 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, September 5th. The shares were sold at an average price of $176.56, for a total transaction of $283,378.80. Following the sale, the vice president now owns 15,731 shares in the company, valued at $2,777,465.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP William R. Bowman sold 2,400 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, August 29th. The shares were sold at an average price of $175.36, for a total transaction of $420,864.00. Following the sale, the vice president now owns 1,325 shares in the company, valued at approximately $232,352. The disclosure for this sale can be found here. Insiders own 1.12% of the company’s stock.

PH opened at $161.65 on Monday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.07 and a current ratio of 1.60. Parker-Hannifin Corp has a 1 year low of $143.00 and a 1 year high of $212.80. The company has a market capitalization of $21.41 billion, a P/E ratio of 15.51, a P/E/G ratio of 1.25 and a beta of 1.52.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, November 1st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.53 by $0.31. Parker-Hannifin had a net margin of 7.98% and a return on equity of 25.49%. The business had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.54 billion. During the same period last year, the company earned $2.24 earnings per share. The company’s quarterly revenue was up 3.4% on a year-over-year basis. As a group, equities research analysts anticipate that Parker-Hannifin Corp will post 11.49 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Shareholders of record on Friday, November 9th will be given a dividend of $0.76 per share. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $3.04 dividend on an annualized basis and a yield of 1.88%. Parker-Hannifin’s dividend payout ratio (DPR) is 29.17%.

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.

Further Reading: Bull Market

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Institutional Ownership by Quarter for Parker-Hannifin (NYSE:PH)

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