Smith Asset Management Group LP lowered its stake in shares of Parker-Hannifin Corp (NYSE:PH) by 96.7% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 5,424 shares of the industrial products company’s stock after selling 159,122 shares during the quarter. Smith Asset Management Group LP’s holdings in Parker-Hannifin were worth $984,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. grew its position in Parker-Hannifin by 50.7% in the 2nd quarter. Oppenheimer Asset Management Inc. now owns 2,026 shares of the industrial products company’s stock valued at $316,000 after acquiring an additional 682 shares during the last quarter. Commonwealth Bank of Australia grew its position in Parker-Hannifin by 2.7% in the 2nd quarter. Commonwealth Bank of Australia now owns 13,810 shares of the industrial products company’s stock valued at $2,146,000 after acquiring an additional 361 shares during the last quarter. Northern Trust Corp grew its position in Parker-Hannifin by 1.0% in the 2nd quarter. Northern Trust Corp now owns 1,646,375 shares of the industrial products company’s stock valued at $256,588,000 after acquiring an additional 16,377 shares during the last quarter. Verity & Verity LLC grew its position in Parker-Hannifin by 2.2% in the 3rd quarter. Verity & Verity LLC now owns 26,071 shares of the industrial products company’s stock valued at $4,795,000 after acquiring an additional 570 shares during the last quarter. Finally, Investec Asset Management LTD grew its position in Parker-Hannifin by 40.8% in the 2nd quarter. Investec Asset Management LTD now owns 824,658 shares of the industrial products company’s stock valued at $128,523,000 after acquiring an additional 238,927 shares during the last quarter. 79.34% of the stock is currently owned by hedge funds and other institutional investors.
In related news, VP Joseph R. Leonti sold 1,605 shares of the company’s 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 of the company’s stock, valued at approximately $2,777,465.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP William R. Bowman sold 2,400 shares of the company’s 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 directly owns 1,325 shares in the company, valued at $232,352. The disclosure for this sale can be found here. Corporate insiders own 1.12% of the company’s stock.
Shares of NYSE PH opened at $171.03 on Thursday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.60 and a quick ratio of 1.07. The firm has a market cap of $22.14 billion, a P/E ratio of 16.41, a P/E/G ratio of 1.28 and a beta of 1.52. Parker-Hannifin Corp has a 1-year low of $143.00 and a 1-year high of $212.80.
Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, November 1st. The industrial products company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.31. The firm had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.54 billion. Parker-Hannifin had a return on equity of 25.49% and a net margin of 7.98%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.24 EPS. As a group, equities analysts forecast that Parker-Hannifin Corp will post 11.57 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Friday, November 9th will be paid a dividend of $0.76 per share. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.78%. The ex-dividend date of this dividend is Thursday, November 8th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 29.17%.
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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