CCM Investment Advisers LLC reduced its stake in Parker-Hannifin Corp (NYSE:PH) by 1.0% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 47,687 shares of the industrial products company’s stock after selling 465 shares during the period. CCM Investment Advisers LLC’s holdings in Parker-Hannifin were worth $8,771,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds also recently bought and sold shares of the company. Vulcan Value Partners LLC boosted its stake in shares of Parker-Hannifin by 97.5% in the 2nd quarter. Vulcan Value Partners LLC now owns 3,178,193 shares of the industrial products company’s stock valued at $495,321,000 after purchasing an additional 1,569,099 shares in the last quarter. Janus Henderson Group PLC boosted its position in Parker-Hannifin by 27.5% during the 2nd quarter. Janus Henderson Group PLC now owns 2,541,885 shares of the industrial products company’s stock worth $396,154,000 after buying an additional 548,399 shares during the period. Northern Trust Corp boosted its position in Parker-Hannifin by 1.0% during the 2nd quarter. Northern Trust Corp now owns 1,646,375 shares of the industrial products company’s stock worth $256,588,000 after buying an additional 16,377 shares during the period. Diamond Hill Capital Management Inc. boosted its position in Parker-Hannifin by 5.1% during the 2nd quarter. Diamond Hill Capital Management Inc. now owns 1,612,883 shares of the industrial products company’s stock worth $251,368,000 after buying an additional 77,837 shares during the period. Finally, Boston Partners boosted its position in Parker-Hannifin by 20.2% during the 2nd quarter. Boston Partners now owns 1,523,254 shares of the industrial products company’s stock worth $237,399,000 after buying an additional 256,495 shares during the period. Institutional investors own 79.34% of the company’s stock.
NYSE:PH opened at $167.17 on Wednesday. The firm has a market capitalization of $21.41 billion, a PE ratio of 16.04, a P/E/G ratio of 1.25 and a beta of 1.52. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.60 and a quick ratio of 1.07. Parker-Hannifin Corp has a twelve month low of $143.00 and a twelve month high of $212.80.
Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, November 1st. The industrial products company reported $2.84 EPS for the quarter, beating the Zacks’ consensus estimate of $2.53 by $0.31. The business had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.54 billion. Parker-Hannifin had a net margin of 7.98% and a return on equity of 25.49%. Parker-Hannifin’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.24 EPS. Analysts forecast that Parker-Hannifin Corp will post 11.55 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Shareholders of record on Friday, November 9th will be paid a dividend of $0.76 per share. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $3.04 dividend on an annualized basis and a yield of 1.82%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 29.17%.
Several equities research analysts recently commented on PH shares. Cowen reiterated a “hold” rating and set a $165.00 target price on shares of Parker-Hannifin in a research report 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 on the stock. in a research report on Monday, July 16th. Morgan Stanley started coverage on shares of Parker-Hannifin in a research report on Monday, August 20th. They set an “equal weight” rating and a $185.00 target price on the stock. Evercore ISI upgraded shares of Parker-Hannifin from an “in-line” rating to an “outperform” rating in a research report on Monday, August 6th. Finally, Citigroup cut their target price on shares of Parker-Hannifin from $185.00 to $178.00 and set a “neutral” rating on the stock in a research report on Friday, November 2nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $186.72.
In other Parker-Hannifin news, VP Joseph R. Leonti sold 1,605 shares of Parker-Hannifin stock in a transaction on Wednesday, September 5th. The shares were 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP William R. Bowman sold 2,400 shares of Parker-Hannifin stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $175.36, for a total transaction 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. Insiders own 1.12% of the company’s stock.
WARNING: This piece was posted by Macon Daily and is the property of of Macon Daily. If you are viewing this piece on another site, it was copied illegally and republished in violation of U.S. & international copyright law. The correct version of this piece can be viewed at https://macondaily.com/2018/11/07/parker-hannifin-corp-ph-shares-sold-by-ccm-investment-advisers-llc.html.
Parker-Hannifin Company Profile
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.
Read More: Hedge Funds
Receive News & Ratings for Parker-Hannifin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parker-Hannifin and related companies with MarketBeat.com's FREE daily email newsletter.