Los Angeles Capital Management & Equity Research Inc. lessened its position in shares of Parker-Hannifin Corp (NYSE:PH) by 88.7% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,240 shares of the industrial products company’s stock after selling 25,559 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in Parker-Hannifin were worth $505,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Thomaspartners Inc. raised its stake in shares of Parker-Hannifin by 1.1% during the 1st quarter. Thomaspartners Inc. now owns 1,347,892 shares of the industrial products company’s stock valued at $230,530,000 after purchasing an additional 15,072 shares during the period. Beutel Goodman & Co Ltd. raised its stake in shares of Parker-Hannifin by 16.3% during the 2nd quarter. Beutel Goodman & Co Ltd. now owns 1,268,690 shares of the industrial products company’s stock valued at $150,429,000 after purchasing an additional 177,992 shares during the period. Boston Partners raised its stake 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 valued at $216,654,000 after purchasing an additional 619,359 shares during the period. Eaton Vance Management raised its stake 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 valued at $88,005,000 after purchasing an additional 301,597 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Parker-Hannifin by 2.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 506,274 shares of the industrial products company’s stock valued at $86,588,000 after purchasing an additional 9,963 shares during the period. 80.96% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NYSE PH opened at $172.07 on Wednesday. The stock has a market capitalization of $22.55 billion, a price-to-earnings ratio of 16.51, a price-to-earnings-growth ratio of 1.33 and a beta of 1.42. 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.
Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, August 2nd. The industrial products company reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $2.91 by $0.31. The business had revenue of $3.82 billion for the quarter, compared to analyst estimates of $3.83 billion. Parker-Hannifin had a return on equity of 24.77% and a net margin of 7.42%. The company’s quarterly revenue was up 9.2% compared to the same quarter last year. During the same period in the prior year, the company earned $2.45 EPS. research analysts forecast that Parker-Hannifin Corp will post 11.35 EPS for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 14th. Shareholders of record on Tuesday, August 28th will be paid a $0.76 dividend. The ex-dividend date of this dividend is Monday, August 27th. This represents a $3.04 dividend on an annualized basis and a yield of 1.77%. Parker-Hannifin’s dividend payout ratio is currently 29.17%.
A number of analysts recently issued reports on the company. Zacks Investment Research upgraded Parker-Hannifin from a “sell” rating to a “hold” rating in a research note on Tuesday, August 7th. ValuEngine upgraded Parker-Hannifin from a “sell” rating to a “hold” rating in a research note on Tuesday, August 7th. Wells Fargo & Co reiterated a “buy” rating on shares of Parker-Hannifin in a research note on Tuesday, May 29th. Evercore ISI upgraded Parker-Hannifin from an “in-line” rating to an “outperform” rating in a research note on Monday, August 6th. Finally, Credit Suisse Group decreased their price objective on Parker-Hannifin from $214.00 to $210.00 and set an “outperform” rating on the stock in a research note on Friday, August 3rd. Twelve investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus target price of $188.12.
In other Parker-Hannifin news, VP Catherine A. Suever sold 2,148 shares of the company’s stock in a transaction dated Friday, June 8th. The stock was sold at an average price of $175.13, for a total value of $376,179.24. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 1.12% of the stock is owned by corporate insiders.
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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