Marble Harbor Investment Counsel LLC grew its stake in Parker-Hannifin Corp (NYSE:PH) by 5.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,375 shares of the industrial products company’s stock after purchasing an additional 1,175 shares during the quarter. Marble Harbor Investment Counsel LLC’s holdings in Parker-Hannifin were worth $4,402,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently modified their holdings of PH. Ibex Wealth Advisors bought a new position in shares of Parker-Hannifin in the second quarter valued at about $27,000. Private Capital Group LLC increased its position in Parker-Hannifin by 126.3% during the second quarter. Private Capital Group LLC now owns 172 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 96 shares during the period. Quest Capital Management Inc. ADV bought a new position in Parker-Hannifin during the third quarter worth about $32,000. TRUE Private Wealth Advisors bought a new position in Parker-Hannifin during the second quarter worth about $34,000. Finally, HMS Capital Management LLC bought a new position in Parker-Hannifin during the second quarter worth about $36,000. 80.34% of the stock is currently owned by institutional investors.
Parker-Hannifin stock traded down $1.28 during trading hours on Tuesday, reaching $197.54. 714,714 shares of the stock were exchanged, compared to its average volume of 891,635. The company has a market cap of $25.63 billion, a P/E ratio of 16.67, a price-to-earnings-growth ratio of 2.04 and a beta of 1.55. The company has a current ratio of 1.96, a quick ratio of 1.53 and a debt-to-equity ratio of 1.21. Parker-Hannifin Corp has a twelve month low of $140.82 and a twelve month high of $201.38. The stock has a 50 day moving average of $184.12 and a two-hundred day moving average of $172.48.
The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be paid a $0.88 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.78%. Parker-Hannifin’s payout ratio is currently 29.70%.
In other news, COO Lee C. Banks sold 18,989 shares of the firm’s stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $180.95, for a total value of $3,436,059.55. Following the sale, the chief operating officer now directly owns 92,617 shares in the company, valued at approximately $16,759,046.15. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Thomas L. Williams sold 32,109 shares of the firm’s stock in a transaction that occurred on Tuesday, September 10th. The shares were sold at an average price of $180.68, for a total transaction of $5,801,454.12. Following the completion of the sale, the chief executive officer now owns 130,176 shares in the company, valued at $23,520,199.68. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 66,136 shares of company stock worth $12,079,422. 1.23% of the stock is currently owned by corporate insiders.
A number of research firms recently commented on PH. Gordon Haskett raised shares of Parker-Hannifin from an “underperform” rating to a “hold” rating in a research report on Monday, November 4th. Wells Fargo & Co raised their price target on shares of Parker-Hannifin from $185.00 to $205.00 and gave the stock a “market perform” rating in a research report on Monday, November 4th. Deutsche Bank raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating and raised their price target for the stock from $179.00 to $215.00 in a research report on Friday, November 1st. Goldman Sachs Group lowered shares of Parker-Hannifin from a “neutral” rating to a “sell” rating and lowered their price target for the stock from $178.00 to $150.00 in a research report on Tuesday, July 16th. Finally, Stifel Nicolaus lowered their price target on shares of Parker-Hannifin from $176.00 to $174.00 and set a “hold” rating on the stock in a research report on Monday, October 7th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $185.85.
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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