Nissay Asset Management Corp Japan ADV trimmed its holdings in shares of Parker-Hannifin Corp (NYSE:PH) by 9.8% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 18,771 shares of the industrial products company’s stock after selling 2,040 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in Parker-Hannifin were worth $3,221,000 as of its most recent SEC filing.
Other large investors have also modified their holdings of the company. Dubuque Bank & Trust Co. increased its holdings in shares of Parker-Hannifin by 97.5% in the 1st quarter. Dubuque Bank & Trust Co. now owns 158 shares of the industrial products company’s stock worth $27,000 after acquiring an additional 78 shares during the period. Harel Insurance Investments & Financial Services Ltd. bought a new position in Parker-Hannifin in the 4th quarter valued at about $26,000. First Mercantile Trust Co. grew its position in Parker-Hannifin by 58.3% in the 4th quarter. First Mercantile Trust Co. now owns 190 shares of the industrial products company’s stock valued at $28,000 after buying an additional 70 shares in the last quarter. Gemmer Asset Management LLC grew its position in Parker-Hannifin by 162.3% in the 1st quarter. Gemmer Asset Management LLC now owns 202 shares of the industrial products company’s stock valued at $35,000 after buying an additional 125 shares in the last quarter. Finally, Athena Capital Advisors LLC bought a new position in Parker-Hannifin in the 4th quarter valued at about $32,000. 81.32% of the stock is currently owned by institutional investors.
In related news, VP Roger S. Sherrard sold 2,040 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The shares were sold at an average price of $171.80, for a total transaction of $350,472.00. Following the transaction, the vice president now owns 62,620 shares of the company’s stock, valued at $10,758,116. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Todd M. Leombruno sold 784 shares of the firm’s stock in a transaction that occurred on Monday, February 25th. The shares were sold at an average price of $177.55, for a total transaction of $139,199.20. Following the transaction, the vice president now directly owns 2,913 shares in the company, valued at approximately $517,203.15. The disclosure for this sale can be found here. Insiders sold 8,644 shares of company stock valued at $1,513,697 over the last three months. 1.12% of the stock is owned by insiders.
Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, May 2nd. The industrial products company reported $3.17 EPS for the quarter, topping the consensus estimate of $3.01 by $0.16. Parker-Hannifin had a net margin of 10.04% and a return on equity of 26.27%. The company had revenue of $3.69 billion during the quarter, compared to analysts’ expectations of $3.72 billion. During the same period last year, the company posted $2.80 earnings per share. The business’s revenue for the quarter was down 1.7% on a year-over-year basis. As a group, analysts anticipate that Parker-Hannifin Corp will post 11.66 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 10th will be given a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.11%. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $0.76. The ex-dividend date is Thursday, May 9th. Parker-Hannifin’s dividend payout ratio is 33.78%.
A number of equities analysts recently issued reports on PH shares. Morgan Stanley set a $172.00 target price on shares of Parker-Hannifin and gave the company a “hold” rating in a research report on Saturday, February 2nd. Stifel Nicolaus lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating and reduced their price objective for the company from $181.00 to $171.00 in a research report on Friday, February 1st. Robert W. Baird set a $170.00 price objective on shares of Parker-Hannifin and gave the company a “buy” rating in a research report on Friday, January 25th. Barclays raised their price objective on shares of Parker-Hannifin from $178.00 to $186.00 and gave the company an “overweight” rating in a research report on Wednesday, April 3rd. Finally, Vertical Research lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating and set a $175.00 price objective for the company. in a research report on Friday, February 1st. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have given a buy rating to the company. Parker-Hannifin currently has a consensus rating of “Hold” and a consensus target price of $182.35.
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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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