Gamco Investors INC. ET AL acquired a new position in shares of Parker-Hannifin Corporation (NYSE:PH) in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 7,730 shares of the industrial products company’s stock, valued at approximately $1,353,000.
A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Israel Discount Bank of New York boosted its position in Parker-Hannifin Corporation by 31.6% during the 2nd quarter. Israel Discount Bank of New York now owns 625 shares of the industrial products company’s stock worth $100,000 after acquiring an additional 150 shares during the period. Parallel Advisors LLC boosted its position in Parker-Hannifin Corporation by 4.1% during the 2nd quarter. Parallel Advisors LLC now owns 612 shares of the industrial products company’s stock worth $102,000 after acquiring an additional 24 shares during the period. IHT Wealth Management LLC boosted its position in Parker-Hannifin Corporation by 20.8% during the 2nd quarter. IHT Wealth Management LLC now owns 116 shares of the industrial products company’s stock worth $119,000 after acquiring an additional 20 shares during the period. BT Investment Management Ltd acquired a new position in Parker-Hannifin Corporation during the 2nd quarter worth $124,000. Finally, Sun Life Financial INC boosted its position in Parker-Hannifin Corporation by 8,108.3% during the 2nd quarter. Sun Life Financial INC now owns 985 shares of the industrial products company’s stock worth $157,000 after acquiring an additional 973 shares during the period. Hedge funds and other institutional investors own 77.73% of the company’s stock.
In related news, VP Thomas C. Gentile sold 326 shares of the company’s stock in a transaction on Friday, November 10th. The stock was sold at an average price of $181.89, for a total transaction of $59,296.14. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Lee C. Banks sold 5,286 shares of the company’s stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $186.38, for a total value of $985,204.68. Following the transaction, the chief operating officer now directly owns 112,808 shares in the company, valued at $21,025,155.04. The disclosure for this sale can be found here. Insiders have sold 11,541 shares of company stock worth $2,024,054 over the last three months. 1.12% of the stock is owned by insiders.
A number of brokerages have issued reports on PH. Morgan Stanley lowered Parker-Hannifin Corporation from an “overweight” rating to an “equal weight” rating and set a $188.00 price target for the company. in a research report on Monday, October 2nd. KeyCorp restated an “overweight” rating and issued a $185.00 price objective on shares of Parker-Hannifin Corporation in a report on Saturday, September 16th. Zacks Investment Research lowered Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Buckingham Research upped their price objective on Parker-Hannifin Corporation from $205.00 to $210.00 and gave the company a “buy” rating in a report on Friday, November 3rd. Finally, Credit Suisse Group upped their price objective on Parker-Hannifin Corporation from $205.00 to $206.00 and gave the company an “outperform” rating in a report on Friday, November 3rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the company’s stock. The stock has a consensus rating of “Buy” and a consensus price target of $188.37.
Shares of Parker-Hannifin Corporation (PH) opened at $181.30 on Tuesday. Parker-Hannifin Corporation has a fifty-two week low of $134.03 and a fifty-two week high of $189.83. The company has a market capitalization of $24,277.79, a price-to-earnings ratio of 20.92, a PEG ratio of 1.64 and a beta of 1.40. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 0.87.
Parker-Hannifin Corporation (NYSE:PH) last posted its quarterly earnings results on Thursday, November 2nd. The industrial products company reported $2.24 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.22. The firm had revenue of $3.36 billion for the quarter, compared to analyst estimates of $3.31 billion. Parker-Hannifin Corporation had a return on equity of 23.61% and a net margin of 8.37%. Parker-Hannifin Corporation’s quarterly revenue was up 22.7% on a year-over-year basis. During the same period in the previous year, the firm earned $1.61 earnings per share. sell-side analysts anticipate that Parker-Hannifin Corporation will post 9.55 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 10th will be given a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 1.46%. The ex-dividend date is Thursday, November 9th. Parker-Hannifin Corporation’s payout ratio is 33.93%.
Parker-Hannifin Corporation Company Profile
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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