Schroder Investment Management Group lowered its holdings in shares of Parker-Hannifin Corp (NYSE:PH) by 81.6% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 38,866 shares of the industrial products company’s stock after selling 171,966 shares during the period. Schroder Investment Management Group’s holdings in Parker-Hannifin were worth $7,148,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PH. Piedmont Investment Advisors LLC purchased a new stake in shares of Parker-Hannifin in the second quarter worth approximately $241,000. Daiwa Securities Group Inc. lifted its position in shares of Parker-Hannifin by 9.8% in the second quarter. Daiwa Securities Group Inc. now owns 4,683 shares of the industrial products company’s stock worth $730,000 after purchasing an additional 419 shares in the last quarter. Raymond James Financial Services Advisors Inc. lifted its position in shares of Parker-Hannifin by 4.7% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 22,691 shares of the industrial products company’s stock worth $3,537,000 after purchasing an additional 1,025 shares in the last quarter. Alps Advisors Inc. purchased a new stake in shares of Parker-Hannifin in the second quarter worth approximately $563,000. Finally, Migdal Insurance & Financial Holdings Ltd. lifted its position in shares of Parker-Hannifin by 5,815.4% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 769 shares of the industrial products company’s stock worth $120,000 after purchasing an additional 756 shares in the last quarter. 79.67% of the stock is owned by institutional investors and hedge funds.
Shares of PH stock opened at $166.47 on Thursday. Parker-Hannifin Corp has a 12 month low of $143.00 and a 12 month high of $212.80. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.07 and a current ratio of 1.60. The company has a market cap of $22.03 billion, a price-to-earnings ratio of 15.98, a P/E/G ratio of 1.27 and a beta of 1.56.
Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, November 1st. The industrial products company reported $2.84 EPS for the quarter, beating the consensus estimate of $2.53 by $0.31. Parker-Hannifin had a return on equity of 25.49% and a net margin of 7.98%. The company had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.54 billion. During the same quarter last year, the company posted $2.24 earnings per share. The company’s revenue for the quarter was up 3.4% compared to the same quarter last year. On average, sell-side analysts anticipate that Parker-Hannifin Corp will post 11.61 earnings per share for the current fiscal year.
The firm also recently disclosed 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. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $3.04 annualized dividend and a dividend yield of 1.83%. Parker-Hannifin’s dividend payout ratio is 29.17%.
A number of research firms have recently issued reports on PH. Morgan Stanley began coverage on shares of Parker-Hannifin in a research report on Monday, August 20th. They issued an “equal weight” rating and a $185.00 price target for the company. Wells Fargo & Co increased their price objective on Parker-Hannifin from $185.00 to $193.00 and gave the stock a “market perform” rating in a report on Thursday, September 27th. Cowen downgraded Parker-Hannifin from a “market perform” rating to an “underperform” rating in a report on Monday, October 15th. Deutsche Bank increased their price objective on Parker-Hannifin from $176.00 to $184.00 and gave the stock a “hold” rating in a report on Friday, September 28th. Finally, Zacks Investment Research downgraded Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Thursday, October 18th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company’s stock. Parker-Hannifin presently has a consensus rating of “Hold” and a consensus price target of $186.72.
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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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