Capital Insight Partners LLC lifted its holdings in Parker-Hannifin Co. (NYSE:PH – Free Report) by 3.6% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,199 shares of the industrial products company’s stock after purchasing an additional 42 shares during the quarter. Capital Insight Partners LLC’s holdings in Parker-Hannifin were worth $758,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PH. Vanguard Group Inc. lifted its stake in shares of Parker-Hannifin by 1.0% during the first quarter. Vanguard Group Inc. now owns 10,566,391 shares of the industrial products company’s stock worth $5,872,694,000 after buying an additional 105,475 shares during the period. Boston Partners lifted its position in Parker-Hannifin by 4.1% during the 1st quarter. Boston Partners now owns 1,111,720 shares of the industrial products company’s stock worth $617,878,000 after acquiring an additional 43,535 shares during the period. Legal & General Group Plc grew its stake in Parker-Hannifin by 1.3% during the 2nd quarter. Legal & General Group Plc now owns 985,280 shares of the industrial products company’s stock valued at $498,366,000 after purchasing an additional 12,615 shares during the last quarter. AMF Tjanstepension AB increased its holdings in shares of Parker-Hannifin by 23.0% in the second quarter. AMF Tjanstepension AB now owns 758,262 shares of the industrial products company’s stock valued at $383,594,000 after purchasing an additional 141,862 shares during the period. Finally, Bank of Montreal Can raised its stake in shares of Parker-Hannifin by 11.6% in the second quarter. Bank of Montreal Can now owns 735,755 shares of the industrial products company’s stock worth $378,572,000 after purchasing an additional 76,629 shares during the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.
Insider Buying and Selling at Parker-Hannifin
In related news, Director Joseph Scaminace sold 1,751 shares of Parker-Hannifin stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the transaction, the director now owns 3,900 shares in the company, valued at approximately $2,299,947. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related news, VP Berend Bracht sold 850 shares of the stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $592.92, for a total value of $503,982.00. Following the completion of the transaction, the vice president now directly owns 3,350 shares in the company, valued at approximately $1,986,282. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Joseph Scaminace sold 1,751 shares of Parker-Hannifin stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $589.73, for a total value of $1,032,617.23. Following the completion of the sale, the director now owns 3,900 shares in the company, valued at $2,299,947. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.03% of the stock is owned by insiders.
Parker-Hannifin Price Performance
Parker-Hannifin (NYSE:PH – Get Free Report) last announced its earnings results on Thursday, August 8th. The industrial products company reported $6.77 EPS for the quarter, beating analysts’ consensus estimates of $6.22 by $0.55. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. The business had revenue of $5.19 billion during the quarter, compared to analysts’ expectations of $5.08 billion. During the same quarter in the prior year, the firm earned $6.08 earnings per share. The business’s revenue was up 1.8% compared to the same quarter last year. Equities research analysts forecast that Parker-Hannifin Co. will post 26.64 earnings per share for the current fiscal year.
Parker-Hannifin Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Wednesday, August 28th were paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $6.52 annualized dividend and a yield of 1.04%. Parker-Hannifin’s dividend payout ratio is presently 30.73%.
Wall Street Analysts Forecast Growth
A number of equities research analysts recently commented on PH shares. Barclays upped their target price on Parker-Hannifin from $650.00 to $703.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company raised their target price on shares of Parker-Hannifin from $640.00 to $710.00 and gave the stock an “overweight” rating in a report on Monday. Stifel Nicolaus boosted their target price on shares of Parker-Hannifin from $633.00 to $691.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. TD Cowen increased their price target on Parker-Hannifin from $500.00 to $520.00 and gave the stock a “hold” rating in a research report on Wednesday, September 11th. Finally, Robert W. Baird upped their target price on Parker-Hannifin from $622.00 to $654.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $649.86.
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 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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