Highlander Capital Management LLC grew its holdings in shares of Parker-Hannifin Corp (NYSE:PH) by 65.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,675 shares of the industrial products company’s stock after buying an additional 2,250 shares during the quarter. Highlander Capital Management LLC’s holdings in Parker-Hannifin were worth $951,000 at the end of the most recent reporting period.
A number of other large investors have also modified their holdings of the business. Boston Partners grew its position in shares of Parker-Hannifin by 95.7% during the 1st quarter. Boston Partners now owns 1,266,759 shares of the industrial products company’s stock worth $216,654,000 after purchasing an additional 619,359 shares in the last quarter. UBS Asset Management Americas Inc. grew its position in shares of Parker-Hannifin by 84.3% during the 4th quarter. UBS Asset Management Americas Inc. now owns 784,317 shares of the industrial products company’s stock worth $156,534,000 after purchasing an additional 358,656 shares in the last quarter. Eaton Vance Management grew its position in shares of Parker-Hannifin by 141.6% during the 1st quarter. Eaton Vance Management now owns 514,556 shares of the industrial products company’s stock worth $88,005,000 after purchasing an additional 301,597 shares in the last quarter. State of New Jersey Common Pension Fund D grew its position in shares of Parker-Hannifin by 500.0% during the 1st quarter. State of New Jersey Common Pension Fund D now owns 360,000 shares of the industrial products company’s stock worth $61,571,000 after purchasing an additional 300,000 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of Parker-Hannifin by 134.2% during the 1st quarter. The Manufacturers Life Insurance Company now owns 361,645 shares of the industrial products company’s stock worth $61,852,000 after purchasing an additional 207,208 shares in the last quarter. 80.00% of the stock is currently owned by hedge funds and other institutional investors.
In other Parker-Hannifin news, Director Candy M. Obourn sold 1,825 shares of the company’s stock in a transaction that occurred on Monday, April 30th. The shares were sold at an average price of $164.93, for a total value of $300,997.25. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Robert W. Malone sold 430 shares of the stock in a transaction on Monday, April 30th. The stock was sold at an average price of $165.12, for a total transaction of $71,001.60. Following the sale, the vice president now owns 14,816 shares of the company’s stock, valued at $2,446,417.92. The disclosure for this sale can be found here. In the last three months, insiders sold 14,578 shares of company stock valued at $2,564,440. 1.12% of the stock is owned by insiders.
Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, April 26th. The industrial products company reported $2.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.62 by $0.18. The business had revenue of $3.75 billion during the quarter, compared to the consensus estimate of $3.67 billion. Parker-Hannifin had a net margin of 7.16% and a return on equity of 23.63%. The firm’s revenue was up 20.2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.11 EPS. analysts expect that Parker-Hannifin Corp will post 10.08 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 1st. Investors of record on Thursday, May 10th were paid a $0.76 dividend. This is an increase from Parker-Hannifin’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend was Wednesday, May 9th. This represents a $3.04 annualized dividend and a yield of 1.75%. Parker-Hannifin’s dividend payout ratio is presently 37.48%.
A number of research analysts have issued reports on the stock. Wells Fargo & Co restated a “buy” rating on shares of Parker-Hannifin in a research report on Tuesday, May 29th. Citigroup decreased their target price on shares of Parker-Hannifin from $205.00 to $180.00 and set a “neutral” rating on the stock in a research report on Monday, April 30th. Buckingham Research decreased their target price on shares of Parker-Hannifin from $210.00 to $195.00 and set a “hold” rating on the stock in a research report on Friday, April 27th. JPMorgan Chase & Co. cut their price target on shares of Parker-Hannifin from $210.00 to $199.00 and set an “overweight” rating for the company in a report on Tuesday, April 10th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and set a $200.00 price target (down previously from $232.00) on shares of Parker-Hannifin in a report on Monday, April 9th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $200.40.
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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