Decatur Capital Management Inc. reduced its holdings in Parker-Hannifin Corp (NYSE:PH) by 27.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 31,138 shares of the industrial products company’s stock after selling 12,075 shares during the period. Decatur Capital Management Inc.’s holdings in Parker-Hannifin were worth $5,624,000 at the end of the most recent reporting period.
Other hedge funds have also modified their holdings of the company. Ibex Wealth Advisors bought a new position in shares of Parker-Hannifin in the 2nd quarter valued at about $27,000. Private Capital Group LLC grew its position in shares of Parker-Hannifin by 126.3% in the 2nd quarter. Private Capital Group LLC now owns 172 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 96 shares during the period. TRUE Private Wealth Advisors bought a new position in shares of Parker-Hannifin in the 2nd quarter valued at about $34,000. HMS Capital Management LLC bought a new position in shares of Parker-Hannifin in the 2nd quarter valued at about $36,000. Finally, Destination Wealth Management grew its position in shares of Parker-Hannifin by 254.3% in the 2nd 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. Hedge funds and other institutional investors own 80.64% of the company’s stock.
Shares of PH stock traded up $8.11 during midday trading on Friday, hitting $178.86. 33,998 shares of the company were exchanged, compared to its average volume of 809,551. The firm has a market capitalization of $21.41 billion, a P/E ratio of 15.17, a PEG ratio of 1.54 and a beta of 1.57. 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 firm’s 50 day moving average price is $172.27 and its two-hundred day moving average price is $171.07. Parker-Hannifin Corp has a 52 week low of $140.82 and a 52 week high of $190.97.
Parker-Hannifin (NYSE:PH) last announced its 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 business had revenue of $3.68 billion during 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%. Parker-Hannifin’s revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.22 EPS. Analysts expect that Parker-Hannifin Corp will post 11.87 EPS for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Wednesday, August 28th were issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 1.97%. The ex-dividend date was Tuesday, August 27th. Parker-Hannifin’s dividend payout ratio is currently 29.70%.
PH has been the subject of a number of analyst reports. JPMorgan Chase & Co. downgraded shares of Parker-Hannifin from an “overweight” rating to a “neutral” rating and decreased their price objective for the company from $186.00 to $169.00 in a research report on Wednesday, July 10th. Wells Fargo & Co downgraded shares of Parker-Hannifin from an “outperform” rating to a “market perform” rating and set a $175.00 target price for the company. in a report on Wednesday, July 10th. Morgan Stanley lifted their target price on shares of Parker-Hannifin from $173.00 to $177.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Zacks Investment Research downgraded shares of Parker-Hannifin from a “hold” rating to a “sell” rating and set a $180.00 target price for the company. in a report on Wednesday, July 17th. Finally, Bank of America downgraded shares of Parker-Hannifin from a “buy” rating to a “neutral” rating in a report on Friday, July 12th. Four equities research analysts have rated the stock with a sell rating, eight have given a hold rating and two have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus price target of $175.60.
In other Parker-Hannifin news, CEO Thomas L. Williams sold 32,109 shares of the business’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $180.68, for a total value of $5,801,454.12. Following the completion of the sale, the chief executive officer now owns 130,176 shares of the company’s stock, valued at approximately $23,520,199.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Jennifer A. Parmentier sold 4,154 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $182.85, for a total transaction of $759,558.90. Following the completion of the sale, the vice president now directly owns 11,470 shares of the company’s stock, valued at approximately $2,097,289.50. The disclosure for this sale can be found here. Insiders sold a total of 59,234 shares of company stock valued at $10,722,479 in the last three months. Insiders own 1.23% of the company’s stock.
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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