Ellevest Inc. raised its position in Parker-Hannifin Co. (NYSE:PH – Get Rating) by 22.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 393 shares of the industrial products company’s stock after acquiring an additional 71 shares during the quarter. Ellevest Inc.’s holdings in Parker-Hannifin were worth $97,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its position in shares of Parker-Hannifin by 2.0% in the first quarter. Vanguard Group Inc. now owns 9,849,497 shares of the industrial products company’s stock valued at $2,794,892,000 after purchasing an additional 190,889 shares during the period. JPMorgan Chase & Co. raised its position in shares of Parker-Hannifin by 2.3% in the first quarter. JPMorgan Chase & Co. now owns 5,344,389 shares of the industrial products company’s stock valued at $1,516,523,000 after purchasing an additional 117,616 shares during the period. Viking Global Investors LP raised its position in shares of Parker-Hannifin by 3.5% in the first quarter. Viking Global Investors LP now owns 3,165,334 shares of the industrial products company’s stock valued at $898,195,000 after purchasing an additional 108,413 shares during the period. Wellington Management Group LLP increased its position in Parker-Hannifin by 56.2% during the first quarter. Wellington Management Group LLP now owns 2,711,951 shares of the industrial products company’s stock worth $769,544,000 after acquiring an additional 976,153 shares during the period. Finally, Norges Bank bought a new position in Parker-Hannifin during the fourth quarter worth about $720,070,000. Institutional investors and hedge funds own 82.65% of the company’s stock.
Analyst Upgrades and Downgrades
A number of research firms recently commented on PH. Barclays raised their price target on shares of Parker-Hannifin to $340.00 in a research report on Tuesday, August 9th. Deutsche Bank Aktiengesellschaft decreased their target price on shares of Parker-Hannifin from $297.00 to $282.00 in a report on Thursday. StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, August 13th. TheStreet lowered shares of Parker-Hannifin from a “b” rating to a “c+” rating in a report on Thursday, August 4th. Finally, Credit Suisse Group raised their target price on shares of Parker-Hannifin to $361.00 in a report on Tuesday, August 9th. Three analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $333.67.
Parker-Hannifin Stock Down 0.9 %
NYSE:PH opened at $245.56 on Friday. The firm’s 50 day simple moving average is $276.57 and its 200 day simple moving average is $270.88. The company has a debt-to-equity ratio of 1.10, a current ratio of 2.06 and a quick ratio of 1.68. Parker-Hannifin Co. has a one year low of $230.44 and a one year high of $340.00. The company has a market cap of $31.54 billion, a PE ratio of 24.36, a P/E/G ratio of 1.44 and a beta of 1.57.
Parker-Hannifin (NYSE:PH – Get Rating) last posted its earnings results on Thursday, August 4th. The industrial products company reported $5.16 EPS for the quarter, topping the consensus estimate of $4.67 by $0.49. Parker-Hannifin had a net margin of 8.29% and a return on equity of 27.81%. The business had revenue of $4.19 billion for the quarter, compared to the consensus estimate of $4.07 billion. During the same period last year, the company earned $4.38 EPS. The firm’s revenue was up 5.8% compared to the same quarter last year. On average, research analysts anticipate that Parker-Hannifin Co. will post 18.37 earnings per share for the current year.
Parker-Hannifin Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Monday, August 29th were issued a dividend of $1.33 per share. The ex-dividend date was Friday, August 26th. This represents a $5.32 annualized dividend and a yield of 2.17%. Parker-Hannifin’s payout ratio is 52.78%.
Insiders Place Their Bets
In other Parker-Hannifin news, VP Andrew D. Ross sold 3,224 shares of the firm’s stock in a transaction that occurred on Wednesday, August 10th. The shares were sold at an average price of $296.30, for a total transaction of $955,271.20. Following the completion of the transaction, the vice president now owns 9,840 shares in the company, valued at approximately $2,915,592. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Company insiders own 1.47% 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 through two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; 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; control solutions for extreme corrosion resistance, temperatures, pressures, and precise flow; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.
Read More
- Get a free copy of the StockNews.com research report on Parker-Hannifin (PH)
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