Mackay Shields LLC lessened its stake in shares of Parker-Hannifin Corp (NYSE:PH) by 2.9% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 23,021 shares of the industrial products company’s stock after selling 695 shares during the period. Mackay Shields LLC’s holdings in Parker-Hannifin were worth $4,158,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in PH. FMR LLC boosted its stake in shares of Parker-Hannifin by 16.1% during the 1st quarter. FMR LLC now owns 310,712 shares of the industrial products company’s stock worth $53,324,000 after acquiring an additional 43,094 shares in the last quarter. DNB Asset Management AS lifted its position in shares of Parker-Hannifin by 7.0% during the 2nd quarter. DNB Asset Management AS now owns 27,863 shares of the industrial products company’s stock worth $4,737,000 after purchasing an additional 1,811 shares during the last quarter. Crossmark Global Holdings Inc. lifted its position in shares of Parker-Hannifin by 1.9% during the 2nd quarter. Crossmark Global Holdings Inc. now owns 10,344 shares of the industrial products company’s stock worth $1,759,000 after purchasing an additional 191 shares during the last quarter. Nachman Norwood & Parrott Inc acquired a new position in shares of Parker-Hannifin during the 2nd quarter worth about $289,000. Finally, HMS Capital Management LLC acquired a new position in shares of Parker-Hannifin during the 2nd quarter worth about $36,000. Institutional investors own 80.32% of the company’s stock.
Parker-Hannifin stock traded up $0.32 during trading hours on Friday, hitting $199.54. The stock had a trading volume of 684,020 shares, compared to its average volume of 893,147. The company has a 50-day moving average of $183.23 and a two-hundred day moving average of $172.39. The company has a quick ratio of 1.53, a current ratio of 1.96 and a debt-to-equity ratio of 1.21. The company has a market cap of $25.53 billion, a PE ratio of 16.84, a price-to-earnings-growth ratio of 2.01 and a beta of 1.55. Parker-Hannifin Corp has a fifty-two week low of $140.82 and a fifty-two week high of $201.38.
Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $2.76 EPS for the quarter, beating the consensus estimate of $2.64 by $0.12. The firm had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.33 billion. Parker-Hannifin had a return on equity of 25.74% and a net margin of 10.41%. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $2.84 EPS. As a group, analysts forecast that Parker-Hannifin Corp will post 10.71 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 8th will be issued a $0.88 dividend. The ex-dividend date is Thursday, November 7th. This represents a $3.52 annualized dividend and a yield of 1.76%. Parker-Hannifin’s dividend payout ratio (DPR) is 29.70%.
Several research firms recently weighed in on PH. Morgan Stanley set a $193.00 price objective on Parker-Hannifin and gave the stock a “hold” rating in a research report on Friday, November 1st. Deutsche Bank raised Parker-Hannifin from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $179.00 to $215.00 in a research report on Friday, November 1st. Goldman Sachs Group cut Parker-Hannifin from a “neutral” rating to a “sell” rating and cut their price objective for the stock from $178.00 to $150.00 in a research report on Tuesday, July 16th. BMO Capital Markets boosted their price objective on Parker-Hannifin to $210.00 and gave the stock an “outperform” rating in a research report on Tuesday, November 5th. Finally, Stifel Nicolaus cut their price objective on Parker-Hannifin from $176.00 to $174.00 and set a “hold” rating for the company in a research report on Monday, October 7th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and four have issued a buy rating to the company’s stock. Parker-Hannifin currently has an average rating of “Hold” and a consensus price target of $185.85.
In other Parker-Hannifin news, VP Joseph R. Leonti sold 2,228 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $200.56, for a total value of $446,847.68. Following the completion of the transaction, the vice president now owns 22,099 shares of the company’s stock, valued at approximately $4,432,175.44. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Linda S. Harty purchased 3,000 shares of the business’s stock in a transaction on Monday, August 26th. The stock was purchased at an average cost of $158.39 per share, with a total value of $475,170.00. Following the acquisition, the director now owns 13,243 shares in the company, valued at $2,097,558.77. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 66,136 shares of company stock valued at $12,079,422. 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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