Pendal Group Ltd acquired a new position in shares of Parker-Hannifin Corp (NYSE:PH) in the second quarter, Holdings Channel.com reports. The institutional investor acquired 6,701 shares of the industrial products company’s stock, valued at approximately $1,139,000.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Ibex Wealth Advisors purchased a new position in shares of Parker-Hannifin in the second quarter worth about $27,000. Trustcore Financial Services LLC bought a new position in shares of Parker-Hannifin in the first quarter valued at approximately $34,000. Gemmer Asset Management LLC boosted its position in shares of Parker-Hannifin by 162.3% in the first quarter. Gemmer Asset Management LLC now owns 202 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 125 shares during the period. HMS Capital Management LLC bought a new position in shares of Parker-Hannifin in the second quarter valued at approximately $36,000. Finally, Destination Wealth Management boosted its position in shares of Parker-Hannifin by 254.3% in the second quarter. Destination Wealth Management now owns 248 shares of the industrial products company’s stock valued at $42,000 after acquiring an additional 178 shares during the period. Institutional investors and hedge funds own 79.78% of the company’s stock.
PH has been the subject of a number of analyst reports. Goldman Sachs Group lowered shares of Parker-Hannifin from a “neutral” rating to a “sell” rating and cut their price objective for the company from $178.00 to $150.00 in a research report on Tuesday, July 16th. Citigroup raised their price objective on shares of Parker-Hannifin from $178.00 to $190.00 and gave the company a “neutral” rating in a research report on Monday, May 6th. JPMorgan Chase & Co. lowered shares of Parker-Hannifin from an “overweight” rating to a “neutral” rating and cut their price objective for the company from $186.00 to $169.00 in a research report on Wednesday, July 10th. Stifel Nicolaus raised their price objective on shares of Parker-Hannifin from $164.00 to $176.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. Finally, Wells Fargo & Co lowered shares of Parker-Hannifin from an “outperform” rating to a “market perform” rating and set a $175.00 price objective for the company. in a research report on Wednesday, July 10th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $176.55.
In other Parker-Hannifin news, VP Robert W. Malone sold 336 shares of Parker-Hannifin stock in a transaction that occurred on Thursday, May 30th. The shares were sold at an average price of $156.76, for a total transaction 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 1.12% of the company’s stock.
Parker-Hannifin stock traded up $3.46 during mid-day trading on Friday, hitting $161.08. 11,523 shares of the company traded hands, compared to its average volume of 881,989. Parker-Hannifin Corp has a one year low of $140.82 and a one year high of $193.19. The stock has a market cap of $21.25 billion, a price-to-earnings ratio of 13.57, a price-to-earnings-growth ratio of 1.52 and a beta of 1.53. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.90 and a current ratio of 2.43. The stock has a fifty day moving average price of $168.59 and a 200-day moving average price of $170.87.
Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, August 1st. The industrial products company reported $3.31 EPS for the quarter, topping the consensus estimate of $3.09 by $0.22. The firm had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.69 billion. Parker-Hannifin had a net margin of 10.56% and a return on equity of 26.11%. The business’s revenue was down 3.6% compared to the same quarter last year. During the same period last year, the firm posted $3.22 earnings per share. Sell-side analysts predict that Parker-Hannifin Corp will post 11.96 EPS for the current year.
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.
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