HPM Partners LLC decreased its stake in shares of Parker-Hannifin Corp (NYSE:PH) by 40.2% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 13,901 shares of the industrial products company’s stock after selling 9,332 shares during the period. HPM Partners LLC’s holdings in Parker-Hannifin were worth $2,167,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently modified their holdings of PH. Migdal Insurance & Financial Holdings Ltd. lifted its holdings in Parker-Hannifin by 5,815.4% during the 2nd 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. Signaturefd LLC purchased a new stake in Parker-Hannifin during the 1st quarter worth about $128,000. Private Capital Group LLC lifted its holdings in Parker-Hannifin by 272.2% during the 1st quarter. Private Capital Group LLC now owns 882 shares of the industrial products company’s stock worth $151,000 after purchasing an additional 645 shares in the last quarter. Manchester Capital Management LLC lifted its holdings in Parker-Hannifin by 55.9% during the 2nd quarter. Manchester Capital Management LLC now owns 976 shares of the industrial products company’s stock worth $152,000 after purchasing an additional 350 shares in the last quarter. Finally, Flagship Harbor Advisors LLC purchased a new stake in Parker-Hannifin during the 2nd quarter worth about $202,000. 80.62% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE PH opened at $187.15 on Friday. The stock has a market capitalization of $24.27 billion, a price-to-earnings ratio of 17.61, a price-to-earnings-growth ratio of 1.43 and a beta of 1.44. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.08 and a current ratio of 1.59. Parker-Hannifin Corp has a twelve month low of $152.47 and a twelve month high of $212.80.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 14th. Stockholders of record on Tuesday, August 28th were given a dividend of $0.76 per share. The ex-dividend date was Monday, August 27th. This represents a $3.04 annualized dividend and a dividend yield of 1.62%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 29.17%.
PH has been the topic of a number of recent research reports. Goldman Sachs Group cut Parker-Hannifin from a “buy” rating to a “neutral” rating and set a $164.00 price objective on the stock. in a report on Monday, July 16th. Zacks Investment Research lowered Parker-Hannifin from a “hold” rating to a “sell” rating in a research note on Wednesday, June 27th. Wells Fargo & Co lowered Parker-Hannifin from an “outperform” rating to a “market perform” rating and set a $200.00 target price on the stock. in a research note on Wednesday, June 20th. Argus lowered Parker-Hannifin from a “buy” rating to a “hold” rating and set a $176.00 target price on the stock. in a research note on Tuesday, August 14th. Finally, Barclays assumed coverage on Parker-Hannifin in a research note on Thursday, September 6th. They issued an “overweight” rating and a $200.00 target price on the stock. Eleven analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $188.78.
In other news, VP Joseph R. Leonti sold 1,605 shares of the stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $176.56, for a total transaction of $283,378.80. Following the transaction, the vice president now directly owns 15,731 shares in the company, valued at approximately $2,777,465.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP William R. Bowman sold 2,400 shares of the stock in a transaction dated Wednesday, August 29th. The shares were sold at an average price of $175.36, for a total value of $420,864.00. Following the transaction, the vice president now owns 1,325 shares in the company, valued at $232,352. The disclosure for this sale can be found here. 1.12% of the stock is currently owned by corporate insiders.
Parker-Hannifin Corp. is a manufacturer of motion and control technologies and systems, providing engineered solutions for mobile, industrial and aerospace markets. It operates through the following segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial Segment offers products to original equipment manufacturers.
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