Cambridge Investment Research Advisors Inc. reduced its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 2.6% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 3,320 shares of the industrial products company’s stock after selling 89 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Parker-Hannifin Corporation were worth $531,000 at the end of the most recent quarter.
A number of other institutional investors have also recently added to or reduced their stakes in PH. BlackRock Inc. boosted its stake in Parker-Hannifin Corporation by 2,619.0% during the first quarter. BlackRock Inc. now owns 8,166,311 shares of the industrial products company’s stock worth $1,309,223,000 after buying an additional 7,865,974 shares during the period. FMR LLC boosted its stake in Parker-Hannifin Corporation by 1,163.3% during the first quarter. FMR LLC now owns 1,754,907 shares of the industrial products company’s stock worth $281,346,000 after buying an additional 1,615,987 shares during the period. Jennison Associates LLC boosted its stake in Parker-Hannifin Corporation by 28.5% during the second quarter. Jennison Associates LLC now owns 6,026,440 shares of the industrial products company’s stock worth $963,146,000 after buying an additional 1,336,541 shares during the period. Longview Partners Guernsey LTD boosted its stake in Parker-Hannifin Corporation by 7.6% during the second quarter. Longview Partners Guernsey LTD now owns 5,134,958 shares of the industrial products company’s stock worth $820,669,000 after buying an additional 362,076 shares during the period. Finally, American Century Companies Inc. boosted its stake in Parker-Hannifin Corporation by 25.8% during the second quarter. American Century Companies Inc. now owns 1,754,509 shares of the industrial products company’s stock worth $280,406,000 after buying an additional 359,937 shares during the period. Hedge funds and other institutional investors own 80.24% of the company’s stock.
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In other news, VP Joseph R. Leonti sold 408 shares of the stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $160.70, for a total transaction of $65,565.60. Following the completion of the transaction, the vice president now directly owns 7,318 shares in the company, valued at approximately $1,176,002.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Candy M. Obourn sold 1,241 shares of the stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $161.46, for a total value of $200,371.86. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,749 shares of company stock valued at $441,544. 2.73% of the stock is owned by company insiders.
Shares of Parker-Hannifin Corporation (NYSE PH) opened at 161.33 on Monday. The company has a 50-day moving average of $160.69 and a 200 day moving average of $159.26. Parker-Hannifin Corporation has a one year low of $118.77 and a one year high of $167.50. The firm has a market cap of $21.48 billion, a PE ratio of 22.25 and a beta of 1.41.
Parker-Hannifin Corporation (NYSE:PH) last released its quarterly earnings results on Thursday, August 3rd. The industrial products company reported $2.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.31 by $0.14. The firm had revenue of $3.50 billion during the quarter, compared to analysts’ expectations of $3.52 billion. Parker-Hannifin Corporation had a return on equity of 22.90% and a net margin of 8.18%. Parker-Hannifin Corporation’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.90 EPS. On average, equities research analysts expect that Parker-Hannifin Corporation will post $9.08 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Monday, August 28th were issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 1.64%. The ex-dividend date was Thursday, August 24th. Parker-Hannifin Corporation’s dividend payout ratio is presently 36.51%.
Several brokerages have weighed in on PH. Jefferies Group LLC reaffirmed a “hold” rating and set a $165.00 target price (up previously from $163.00) on shares of Parker-Hannifin Corporation in a research note on Wednesday, August 9th. Zacks Investment Research lowered shares of Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Credit Suisse Group set a $189.00 target price on shares of Parker-Hannifin Corporation and gave the stock a “buy” rating in a research note on Sunday, May 28th. BidaskClub lowered shares of Parker-Hannifin Corporation from a “hold” rating to a “sell” rating in a research note on Thursday, August 10th. Finally, Robert W. Baird set a $163.00 target price on shares of Parker-Hannifin Corporation and gave the stock a “hold” rating in a research note on Thursday, August 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $172.06.
Parker-Hannifin Corporation Company Profile
Parker-Hannifin Corporation is a manufacturer of motion and control technologies and systems, providing precision engineered solutions for a range of mobile, industrial and aerospace markets. The Company operates through segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial Segment is an aggregation of several business units, which manufacture motion-control and fluid power system components for builders and users of various types of manufacturing, packaging, processing, transportation, agricultural, construction, and military vehicles and equipment.
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