Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 6.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,322 shares of the industrial products company’s stock after purchasing an additional 2,006 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Parker-Hannifin Corporation were worth $6,182,000 at the end of the most recent reporting period.
Other hedge funds also recently added to or reduced their stakes in the company. Israel Discount Bank of New York increased its position in Parker-Hannifin Corporation by 31.6% during the 2nd quarter. Israel Discount Bank of New York now owns 625 shares of the industrial products company’s stock worth $100,000 after purchasing an additional 150 shares in the last quarter. Parallel Advisors LLC increased its position in Parker-Hannifin Corporation by 4.1% during the 2nd quarter. Parallel Advisors LLC now owns 612 shares of the industrial products company’s stock worth $102,000 after purchasing an additional 24 shares in the last quarter. IHT Wealth Management LLC increased its position in Parker-Hannifin Corporation by 20.8% during the 2nd quarter. IHT Wealth Management LLC now owns 116 shares of the industrial products company’s stock worth $119,000 after purchasing an additional 20 shares in the last quarter. BT Investment Management Ltd acquired a new position in Parker-Hannifin Corporation during the 2nd quarter worth approximately $124,000. Finally, Sun Life Financial INC increased its position in Parker-Hannifin Corporation by 8,108.3% during the 2nd quarter. Sun Life Financial INC now owns 985 shares of the industrial products company’s stock worth $157,000 after purchasing an additional 973 shares in the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.
In other Parker-Hannifin Corporation news, EVP Mark J. Hart sold 600 shares of the company’s stock in a transaction on Thursday, August 31st. The shares were sold at an average price of $160.72, for a total transaction of $96,432.00. Following the transaction, the executive vice president now owns 5,851 shares in the company, valued at $940,372.72. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Joseph Scaminace sold 500 shares of the company’s stock in a transaction on Monday, August 28th. The stock was sold at an average price of $158.35, for a total transaction of $79,175.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 11,541 shares of company stock worth $2,024,054. 1.12% of the stock is owned by insiders.
Parker-Hannifin Corporation (NYSE:PH) last issued its earnings results on Thursday, November 2nd. The industrial products company reported $2.24 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.02 by $0.22. The business had revenue of $3.36 billion for the quarter, compared to analyst estimates of $3.31 billion. Parker-Hannifin Corporation had a net margin of 8.37% and a return on equity of 23.61%. Parker-Hannifin Corporation’s revenue was up 22.7% on a year-over-year basis. During the same period in the prior year, the firm earned $1.61 earnings per share. equities analysts anticipate that Parker-Hannifin Corporation will post 9.55 EPS for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 10th will be paid a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 1.47%. The ex-dividend date is Thursday, November 9th. Parker-Hannifin Corporation’s dividend payout ratio is presently 33.93%.
A number of equities analysts recently issued reports on PH shares. Cowen and Company reiterated a “hold” rating and set a $140.00 price objective on shares of Parker-Hannifin Corporation in a research report on Friday, October 6th. Zacks Investment Research raised shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating and set a $208.00 target price on the stock in a report on Tuesday, November 7th. Robert W. Baird boosted their target price on shares of Parker-Hannifin Corporation from $183.00 to $194.00 and gave the stock a “neutral” rating in a report on Friday, November 3rd. BMO Capital Markets boosted their target price on shares of Parker-Hannifin Corporation from $200.00 to $205.00 and gave the stock an “outperform” rating in a report on Monday, November 6th. Finally, BidaskClub lowered shares of Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have given a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $188.37.
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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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