SRB Corp lifted its holdings in Parker-Hannifin Corp (NYSE:PH) by 22.0% in the first quarter, Holdings Channel reports. The fund owned 4,105 shares of the industrial products company’s stock after purchasing an additional 741 shares during the quarter. SRB Corp’s holdings in Parker-Hannifin were worth $704,000 at the end of the most recent quarter.
Several other large investors have also made changes to their positions in the stock. Oppenheimer Asset Management Inc. lifted its holdings in shares of Parker-Hannifin by 11.4% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 537 shares of the industrial products company’s stock valued at $92,000 after acquiring an additional 55 shares during the last quarter. First Mercantile Trust Co. lifted its holdings in shares of Parker-Hannifin by 58.3% in the 4th quarter. First Mercantile Trust Co. now owns 190 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 70 shares during the last quarter. LS Investment Advisors LLC lifted its holdings in shares of Parker-Hannifin by 1.6% in the 1st quarter. LS Investment Advisors LLC now owns 4,703 shares of the industrial products company’s stock valued at $807,000 after acquiring an additional 74 shares during the last quarter. JOYN Advisors Inc. lifted its stake in Parker-Hannifin by 42.9% in the fourth quarter. JOYN Advisors Inc. now owns 250 shares of the industrial products company’s stock worth $37,000 after purchasing an additional 75 shares during the last quarter. Finally, CNB Bank lifted its stake in Parker-Hannifin by 39.3% in the fourth quarter. CNB Bank now owns 273 shares of the industrial products company’s stock worth $41,000 after purchasing an additional 77 shares during the last quarter. 79.68% of the stock is owned by hedge funds and other institutional investors.
PH stock traded down $3.18 during trading on Friday, hitting $162.62. 3,525 shares of the company’s stock traded hands, compared to its average volume of 867,030. The firm has a market cap of $21.15 billion, a price-to-earnings ratio of 15.63, a PEG ratio of 1.55 and a beta of 1.53. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.71. Parker-Hannifin Corp has a 1 year low of $140.82 and a 1 year high of $193.19.
The company also recently declared a quarterly dividend, which was paid on Friday, June 7th. Shareholders of record on Friday, May 10th were issued a $0.88 dividend. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $0.76. This represents a $3.52 annualized dividend and a yield of 2.16%. The ex-dividend date was Thursday, May 9th. Parker-Hannifin’s payout ratio is currently 33.78%.
In other Parker-Hannifin news, VP Robert W. Malone sold 336 shares of Parker-Hannifin stock in a transaction on Thursday, May 30th. The shares were sold at an average price of $156.76, for a total value of $52,671.36. Following the transaction, the vice president now directly owns 24,260 shares of the company’s stock, valued at $3,802,997.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 1.12% of the stock is currently owned by insiders.
Several analysts have issued reports on PH shares. Barclays raised their price objective on shares of Parker-Hannifin from $178.00 to $186.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 3rd. Morgan Stanley set a $179.00 price objective on shares of Parker-Hannifin and gave the stock a “hold” rating in a research note on Friday, May 3rd. Stifel Nicolaus raised their price objective on shares of Parker-Hannifin from $171.00 to $182.00 and gave the stock a “hold” rating in a research note on Tuesday, April 16th. Finally, Citigroup raised their price objective on shares of Parker-Hannifin from $178.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, May 6th. Two analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $182.12.
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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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