Commonwealth of Pennsylvania Public School Empls Retrmt SYS lifted its stake in shares of Parker-Hannifin Corp (NYSE:PH) by 9.4% in the third quarter, according to the company in its most recent filing with the SEC. The fund owned 10,827 shares of the industrial products company’s stock after buying an additional 932 shares during the quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in Parker-Hannifin were worth $1,895,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors also recently bought and sold shares of PH. Israel Discount Bank of New York raised its stake in Parker-Hannifin by 31.6% in the 2nd quarter. Israel Discount Bank of New York now owns 625 shares of the industrial products company’s stock worth $100,000 after purchasing an additional 150 shares in the last quarter. Parallel Advisors LLC raised its stake in Parker-Hannifin by 4.1% in the 2nd quarter. Parallel Advisors LLC now owns 612 shares of the industrial products company’s stock worth $102,000 after purchasing an additional 24 shares in the last quarter. IHT Wealth Management LLC raised its stake in Parker-Hannifin by 20.8% in the 2nd quarter. IHT Wealth Management LLC now owns 116 shares of the industrial products company’s stock worth $119,000 after purchasing an additional 20 shares in the last quarter. BT Investment Management Ltd acquired a new stake in Parker-Hannifin in the 2nd quarter worth about $124,000. Finally, Sun Life Financial INC raised its stake in Parker-Hannifin by 8,108.3% in the 2nd quarter. Sun Life Financial INC now owns 985 shares of the industrial products company’s stock worth $157,000 after purchasing an additional 973 shares in the last quarter. Institutional investors own 78.26% of the company’s stock.
Several brokerages have weighed in on PH. ValuEngine cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Friday. Stifel Nicolaus set a $198.00 price objective on shares of Parker-Hannifin and gave the stock a “buy” rating in a research note on Friday, August 4th. Zacks Investment Research cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Robert W. Baird set a $163.00 price objective on shares of Parker-Hannifin and gave the stock a “hold” rating in a research note on Thursday, August 24th. Finally, BidaskClub cut shares of Parker-Hannifin from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have given a buy rating to the company. Parker-Hannifin presently has an average rating of “Buy” and an average price target of $188.95.
Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, November 2nd. The industrial products company reported $2.24 EPS for the quarter, beating the consensus estimate of $2.02 by $0.22. Parker-Hannifin had a net margin of 8.37% and a return on equity of 23.61%. The firm had revenue of $3.36 billion for the quarter, compared to analyst estimates of $3.31 billion. During the same period last year, the firm earned $1.61 EPS. The business’s quarterly revenue was up 22.7% compared to the same quarter last year. equities research analysts forecast that Parker-Hannifin Corp will post 9.56 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 10th were issued a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 1.41%. The ex-dividend date of this dividend was Thursday, November 9th. Parker-Hannifin’s dividend payout ratio is currently 33.89%.
In related news, COO Lee C. Banks sold 5,286 shares of Parker-Hannifin stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $186.38, for a total transaction of $985,204.68. Following the sale, the chief operating officer now directly owns 112,808 shares of the company’s stock, valued at approximately $21,025,155.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Joseph R. Leonti sold 408 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $160.70, for a total transaction of $65,565.60. Following the sale, the vice president now directly owns 7,318 shares in the company, valued at $1,176,002.60. The disclosure for this sale can be found here. Over the last three months, insiders sold 24,728 shares of company stock worth $4,436,207. Insiders own 1.12% of the company’s stock.
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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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