Decatur Capital Management Inc. reduced its position in Parker-Hannifin Corp (NYSE:PH) by 27.9% during the third quarter, HoldingsChannel reports. The firm owned 31,138 shares of the industrial products company’s stock after selling 12,075 shares during the period. Decatur Capital Management Inc.’s holdings in Parker-Hannifin were worth $5,624,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of the company. Pacer Advisors Inc. boosted its stake in shares of Parker-Hannifin by 10.7% in the 3rd quarter. Pacer Advisors Inc. now owns 13,806 shares of the industrial products company’s stock valued at $2,494,000 after purchasing an additional 1,336 shares during the last quarter. Alpha Windward LLC bought a new stake in shares of Parker-Hannifin in the 3rd quarter valued at $466,000. State of Alaska Department of Revenue boosted its stake in shares of Parker-Hannifin by 20.7% in the 3rd quarter. State of Alaska Department of Revenue now owns 22,834 shares of the industrial products company’s stock valued at $4,124,000 after purchasing an additional 3,915 shares during the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Parker-Hannifin by 1.1% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 65,200 shares of the industrial products company’s stock valued at $11,085,000 after purchasing an additional 682 shares during the last quarter. Finally, Rehmann Capital Advisory Group boosted its stake in shares of Parker-Hannifin by 8.3% in the 2nd quarter. Rehmann Capital Advisory Group now owns 1,373 shares of the industrial products company’s stock valued at $234,000 after purchasing an additional 105 shares during the last quarter. 80.64% of the stock is currently owned by institutional investors.
NYSE PH traded up $8.11 on Friday, hitting $178.86. 33,998 shares of the company were exchanged, compared to its average volume of 809,551. The company has a market cap of $21.41 billion, a PE ratio of 15.17, a PEG ratio of 1.54 and a beta of 1.57. Parker-Hannifin Corp has a 12 month low of $140.82 and a 12 month high of $190.97. The stock has a fifty day moving average of $172.27 and a 200-day moving average of $171.07. The company has a current ratio of 2.43, a quick ratio of 1.90 and a debt-to-equity ratio of 1.09.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Wednesday, August 28th were issued a dividend of $0.88 per share. The ex-dividend date was Tuesday, August 27th. This represents a $3.52 annualized dividend and a yield of 1.97%. Parker-Hannifin’s payout ratio is 29.70%.
In other Parker-Hannifin news, VP Andrew M. Weeks sold 1,732 shares of the company’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $180.64, for a total transaction of $312,868.48. Following the transaction, the vice president now owns 15,257 shares in the company, valued at $2,756,024.48. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Thomas L. Williams sold 32,109 shares of the company’s stock in a transaction on Tuesday, September 10th. The stock was sold at an average price of $180.68, for a total transaction of $5,801,454.12. Following the transaction, the chief executive officer now owns 130,176 shares in the company, valued at approximately $23,520,199.68. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 59,234 shares of company stock worth $10,722,479. Corporate insiders own 1.23% of the company’s stock.
PH has been the topic of several research analyst reports. Bank of America lowered shares of Parker-Hannifin from a “buy” rating to a “neutral” rating in a research note on Friday, July 12th. Zacks Investment Research lowered shares of Parker-Hannifin from a “hold” rating to a “sell” rating and set a $180.00 target price on the stock. in a research note on Wednesday, July 17th. Morgan Stanley increased their target price on shares of Parker-Hannifin from $173.00 to $177.00 and gave the stock an “equal weight” rating in a research note on Friday, August 2nd. Wells Fargo & Co lowered shares of Parker-Hannifin from an “outperform” rating to a “market perform” rating and set a $175.00 target price on the stock. in a research note on Wednesday, July 10th. Finally, JPMorgan Chase & Co. lowered shares of Parker-Hannifin from an “overweight” rating to a “neutral” rating and cut their target price for the stock from $186.00 to $169.00 in a research note on Wednesday, July 10th. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. Parker-Hannifin currently has a consensus rating of “Hold” and an average price target of $175.60.
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 in two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment provides static and dynamic sealing devices; 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; hydraulic, pneumatic, and electromechanical components and systems for builders and users of industrial and mobile machinery and equipment; and critical flow components for process instrumentation, healthcare, and ultra-high-purity applications, as well as components for use in refrigeration and air conditioning systems, and in fluid control applications for processing, fuel dispensing, beverage dispensing, and mobile emissions.
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