Keybank National Association OH cut its stake in shares of Parker-Hannifin Corp (NYSE:PH) by 1.5% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 422,201 shares of the industrial products company’s stock after selling 6,292 shares during the quarter. Keybank National Association OH’s holdings in Parker-Hannifin were worth $65,800,000 at the end of the most recent reporting period.
Other large investors also recently modified their holdings of the company. Olstein Capital Management L.P. increased its holdings in Parker-Hannifin by 109.5% during the second quarter. Olstein Capital Management L.P. now owns 44,000 shares of the industrial products company’s stock valued at $6,857,000 after buying an additional 23,000 shares during the period. Wesbanco Bank Inc. increased its holdings in Parker-Hannifin by 37.8% during the second quarter. Wesbanco Bank Inc. now owns 30,291 shares of the industrial products company’s stock valued at $4,721,000 after buying an additional 8,310 shares during the period. Minneapolis Portfolio Management Group LLC increased its holdings in Parker-Hannifin by 63.9% during the second quarter. Minneapolis Portfolio Management Group LLC now owns 142,750 shares of the industrial products company’s stock valued at $22,248,000 after buying an additional 55,660 shares during the period. Manchester Capital Management LLC increased its holdings in Parker-Hannifin by 55.9% during the second quarter. Manchester Capital Management LLC now owns 976 shares of the industrial products company’s stock valued at $152,000 after buying an additional 350 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its holdings in Parker-Hannifin by 3.0% during the second quarter. Schwab Charles Investment Management Inc. now owns 519,964 shares of the industrial products company’s stock valued at $81,037,000 after buying an additional 15,237 shares during the period. 80.00% of the stock is currently owned by institutional investors and hedge funds.
Several equities research analysts have weighed in on the stock. Cowen restated a “hold” rating and issued a $165.00 target price on shares of Parker-Hannifin in a research note on Friday, July 20th. Goldman Sachs Group downgraded shares of Parker-Hannifin from a “buy” rating to a “neutral” rating and set a $164.00 target price for the company. in a research note on Monday, July 16th. Wolfe Research assumed coverage on shares of Parker-Hannifin in a research note on Wednesday, June 27th. They issued a “market perform” rating for the company. Evercore ISI upgraded shares of Parker-Hannifin from an “in-line” rating to an “outperform” rating in a research note on Monday, August 6th. Finally, KeyCorp restated an “overweight” rating and issued a $200.00 target price (down from $225.00) on shares of Parker-Hannifin in a research note on Friday, July 6th. Twelve investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Parker-Hannifin currently has a consensus rating of “Hold” and an average target price of $188.71.
In other news, VP Catherine A. Suever sold 2,148 shares of Parker-Hannifin stock in a transaction on Friday, June 8th. The shares were sold at an average price of $175.13, for a total transaction of $376,179.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 1.12% of the company’s stock.
NYSE:PH opened at $169.57 on Monday. Parker-Hannifin Corp has a 12 month low of $152.47 and a 12 month high of $212.80. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.59 and a quick ratio of 1.08. The firm has a market cap of $22.34 billion, a PE ratio of 16.27, a P/E/G ratio of 1.31 and a beta of 1.42.
Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, August 2nd. The industrial products company reported $3.22 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.91 by $0.31. Parker-Hannifin had a net margin of 7.42% and a return on equity of 24.77%. The business had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $3.83 billion. During the same period in the previous year, the firm posted $2.45 earnings per share. The business’s revenue for the quarter was up 9.2% compared to the same quarter last year. equities analysts predict that Parker-Hannifin Corp will post 11.35 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 14th. Stockholders of record on Tuesday, August 28th will be paid a dividend of $0.76 per share. The ex-dividend date is Monday, August 27th. This represents a $3.04 annualized dividend and a dividend yield of 1.79%. Parker-Hannifin’s payout ratio is currently 29.17%.
Parker-Hannifin Company Profile
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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