Claro Advisors LLC raised its holdings in Parker-Hannifin Co. (NYSE:PH - Free Report) by 1,009.8% in the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 5,094 shares of the industrial products company's stock after buying an additional 4,635 shares during the quarter. Claro Advisors LLC's holdings in Parker-Hannifin were worth $3,218,000 at the end of the most recent reporting period.
Several other institutional investors have also added to or reduced their stakes in the business. TD Asset Management Inc grew its holdings in shares of Parker-Hannifin by 152.1% during the first quarter. TD Asset Management Inc now owns 132,231 shares of the industrial products company's stock valued at $73,493,000 after buying an additional 79,774 shares during the last quarter. Daiwa Securities Group Inc. raised its stake in shares of Parker-Hannifin by 8.5% in the first quarter. Daiwa Securities Group Inc. now owns 22,960 shares of the industrial products company's stock worth $12,761,000 after purchasing an additional 1,802 shares during the last quarter. Concurrent Investment Advisors LLC lifted its holdings in shares of Parker-Hannifin by 261.4% during the first quarter. Concurrent Investment Advisors LLC now owns 2,515 shares of the industrial products company's stock worth $1,397,000 after purchasing an additional 1,819 shares during the period. Oppenheimer Asset Management Inc. boosted its position in Parker-Hannifin by 54.1% in the first quarter. Oppenheimer Asset Management Inc. now owns 17,165 shares of the industrial products company's stock valued at $9,540,000 after buying an additional 6,029 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its holdings in Parker-Hannifin by 16.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 42,523 shares of the industrial products company's stock worth $23,634,000 after buying an additional 6,013 shares during the period. Institutional investors and hedge funds own 82.44% of the company's stock.
Parker-Hannifin Price Performance
Shares of Parker-Hannifin stock traded up $0.60 during mid-day trading on Friday, reaching $640.44. 606,501 shares of the stock traded hands, compared to its average volume of 638,305. The company has a quick ratio of 0.55, a current ratio of 0.93 and a debt-to-equity ratio of 0.59. The business has a 50-day moving average of $604.89 and a 200 day moving average of $559.24. Parker-Hannifin Co. has a fifty-two week low of $362.49 and a fifty-two week high of $646.60. The stock has a market capitalization of $82.41 billion, a PE ratio of 29.39, a PEG ratio of 2.61 and a beta of 1.43.
Parker-Hannifin (NYSE:PH - Get Free Report) last announced its earnings results on Thursday, August 8th. The industrial products company reported $6.77 earnings per share for the quarter, topping the consensus estimate of $6.22 by $0.55. Parker-Hannifin had a net margin of 14.27% and a return on equity of 29.08%. The firm had revenue of $5.19 billion for the quarter, compared to the consensus estimate of $5.08 billion. During the same period in the prior year, the firm earned $6.08 EPS. The firm's revenue for the quarter was up 1.8% on a year-over-year basis. On average, analysts predict that Parker-Hannifin Co. will post 26.64 EPS for the current year.
Parker-Hannifin Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Wednesday, August 28th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.02%. The ex-dividend date was Wednesday, August 28th. Parker-Hannifin's dividend payout ratio (DPR) is presently 29.92%.
Analysts Set New Price Targets
PH has been the subject of several research reports. Evercore ISI lifted their price objective on shares of Parker-Hannifin from $620.00 to $656.00 and gave the company an "outperform" rating in a research note on Monday, August 19th. Robert W. Baird increased their price target on Parker-Hannifin from $622.00 to $654.00 and gave the stock an "outperform" rating in a research report on Friday, August 9th. TD Cowen boosted their price objective on Parker-Hannifin from $500.00 to $520.00 and gave the company a "hold" rating in a report on Wednesday, September 11th. Raymond James raised their target price on Parker-Hannifin from $610.00 to $650.00 and gave the stock an "outperform" rating in a report on Wednesday, September 4th. Finally, KeyCorp raised their price objective on shares of Parker-Hannifin from $640.00 to $725.00 and gave the stock an "overweight" rating in a research note on Monday. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $660.57.
Check Out Our Latest Stock Analysis on PH
Insider Buying and Selling at Parker-Hannifin
In related news, Director Joseph Scaminace sold 1,751 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the completion of the transaction, the director now directly owns 3,900 shares of the company's stock, valued at $2,299,947. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, VP Berend Bracht sold 850 shares of the firm's stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $592.92, for a total value of $503,982.00. Following the completion of the sale, the vice president now owns 3,350 shares in the company, valued at $1,986,282. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph Scaminace sold 1,751 shares of the firm's stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the completion of the sale, the director now owns 3,900 shares of the company's stock, valued at $2,299,947. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.39% of the stock is owned by insiders.
About Parker-Hannifin
(
Free Report)
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 ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.
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