Procyon Advisors LLC lifted its holdings in Parker-Hannifin Co. (NYSE:PH - Free Report) by 8.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,235 shares of the industrial products company's stock after purchasing an additional 414 shares during the quarter. Procyon Advisors LLC's holdings in Parker-Hannifin were worth $3,330,000 at the end of the most recent quarter.
Several other large investors also recently bought and sold shares of PH. State Street Corp boosted its holdings in shares of Parker-Hannifin by 13.8% in the 3rd quarter. State Street Corp now owns 6,202,235 shares of the industrial products company's stock worth $3,918,696,000 after purchasing an additional 753,143 shares during the period. Wellington Management Group LLP lifted its position in Parker-Hannifin by 39.9% in the third quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company's stock worth $1,249,645,000 after buying an additional 564,365 shares during the last quarter. International Assets Investment Management LLC boosted its stake in Parker-Hannifin by 64,081.5% during the third quarter. International Assets Investment Management LLC now owns 381,880 shares of the industrial products company's stock worth $241,279,000 after buying an additional 381,285 shares during the period. World Investment Advisors LLC bought a new position in Parker-Hannifin during the third quarter valued at $226,570,000. Finally, Mizuho Securities USA LLC raised its stake in shares of Parker-Hannifin by 3,566.4% in the third quarter. Mizuho Securities USA LLC now owns 363,302 shares of the industrial products company's stock valued at $229,541,000 after acquiring an additional 353,393 shares during the period. Institutional investors own 82.44% of the company's stock.
Analysts Set New Price Targets
Several brokerages have recently weighed in on PH. Jefferies Financial Group increased their price target on Parker-Hannifin from $765.00 to $810.00 and gave the stock a "buy" rating in a report on Friday, December 6th. Robert W. Baird increased their target price on Parker-Hannifin from $695.00 to $710.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Mizuho boosted their target price on shares of Parker-Hannifin from $665.00 to $715.00 and gave the company an "outperform" rating in a research note on Thursday, October 17th. Barclays raised their price target on shares of Parker-Hannifin from $703.00 to $800.00 and gave the stock an "overweight" rating in a research note on Thursday, December 5th. Finally, Wolfe Research raised shares of Parker-Hannifin from a "peer perform" rating to an "outperform" rating and set a $786.00 price objective for the company in a research report on Thursday, December 12th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, Parker-Hannifin currently has a consensus rating of "Moderate Buy" and a consensus price target of $722.94.
Get Our Latest Report on Parker-Hannifin
Parker-Hannifin Stock Performance
NYSE PH traded up $12.09 on Friday, reaching $670.75. 728,894 shares of the company's stock traded hands, compared to its average volume of 506,987. Parker-Hannifin Co. has a fifty-two week low of $458.09 and a fifty-two week high of $712.42. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96. The firm has a market cap of $86.34 billion, a price-to-earnings ratio of 30.30, a P/E/G ratio of 2.54 and a beta of 1.45. The stock has a 50 day moving average price of $670.95 and a 200-day moving average price of $618.53.
Parker-Hannifin (NYSE:PH - Get Free Report) last posted its earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, beating the consensus estimate of $6.14 by $0.06. The firm had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.90 billion. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The business's quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm earned $5.96 EPS. Equities research analysts predict that Parker-Hannifin Co. will post 26.75 EPS for the current fiscal year.
Parker-Hannifin Announces Dividend
The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 8th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date was Friday, November 8th. Parker-Hannifin's dividend payout ratio is presently 29.45%.
Insider Buying and Selling at Parker-Hannifin
In other Parker-Hannifin news, VP Joseph R. Leonti sold 5,877 shares of the stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $631.04, for a total value of $3,708,622.08. Following the completion of the sale, the vice president now owns 15,350 shares in the company, valued at approximately $9,686,464. This represents a 27.69 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas C. Gentile sold 2,430 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total value of $1,703,818.80. Following the transaction, the vice president now owns 5,465 shares in the company, valued at approximately $3,831,839.40. This represents a 30.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,077 shares of company stock valued at $12,303,829 over the last ninety days. Corporate insiders own 0.39% of the company's stock.
Parker-Hannifin Profile
(
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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