River Wealth Advisors LLC reduced its position in Parker-Hannifin Corp (NYSE:PH) by 1.5% in the 1st quarter, HoldingsChannel reports. The fund owned 6,463 shares of the industrial products company’s stock after selling 99 shares during the quarter. River Wealth Advisors LLC’s holdings in Parker-Hannifin were worth $1,109,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PH. Legal & General Group Plc grew its position in shares of Parker-Hannifin by 6.3% during the fourth quarter. Legal & General Group Plc now owns 653,420 shares of the industrial products company’s stock worth $97,451,000 after buying an additional 38,840 shares in the last quarter. Fruth Investment Management grew its position in shares of Parker-Hannifin by 83.7% during the fourth quarter. Fruth Investment Management now owns 7,900 shares of the industrial products company’s stock worth $1,178,000 after buying an additional 3,600 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of Parker-Hannifin by 9.6% during the third quarter. JPMorgan Chase & Co. now owns 2,942,573 shares of the industrial products company’s stock worth $541,228,000 after buying an additional 258,502 shares in the last quarter. Longview Partners Guernsey LTD grew its position in shares of Parker-Hannifin by 41.6% during the fourth quarter. Longview Partners Guernsey LTD now owns 5,626,117 shares of the industrial products company’s stock worth $839,079,000 after buying an additional 1,653,011 shares in the last quarter. Finally, Nuveen Asset Management LLC grew its position in shares of Parker-Hannifin by 38.8% during the fourth quarter. Nuveen Asset Management LLC now owns 27,190 shares of the industrial products company’s stock worth $4,055,000 after buying an additional 7,598 shares in the last quarter. 81.32% of the stock is owned by institutional investors.
PH traded up $1.29 on Thursday, reaching $170.41. The company’s stock had a trading volume of 10,189 shares, compared to its average volume of 919,879. The company has a quick ratio of 1.07, a current ratio of 1.56 and a debt-to-equity ratio of 0.71. The company has a market capitalization of $21.85 billion, a price-to-earnings ratio of 16.32, a price-to-earnings-growth ratio of 1.56 and a beta of 1.46. Parker-Hannifin Corp has a fifty-two week low of $140.82 and a fifty-two week high of $193.19.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 10th will be issued a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a yield of 2.07%. This is an increase 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%.
In other Parker-Hannifin news, VP Robert W. Malone sold 1,300 shares of the business’s stock in a transaction that occurred on Friday, February 15th. The stock was sold at an average price of $173.34, for a total value of $225,342.00. Following the completion of the sale, the vice president now owns 19,526 shares in the company, valued at $3,384,636.84. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Roger S. Sherrard sold 2,040 shares of the business’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 value of $350,472.00. Following the completion of the sale, the vice president now owns 62,620 shares of the company’s stock, valued at approximately $10,758,116. 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 ninety days. 1.12% of the stock is currently owned by corporate insiders.
A number of equities analysts have recently commented on PH shares. Robert W. Baird set a $180.00 price objective on Parker-Hannifin and gave the stock a “buy” rating in a research report on Saturday, February 2nd. Stifel Nicolaus downgraded Parker-Hannifin from a “buy” rating to a “hold” rating and lowered their price objective for the stock from $181.00 to $171.00 in a research report on Friday, February 1st. Zacks Investment Research downgraded Parker-Hannifin from a “hold” rating to a “sell” rating in a research report on Wednesday, January 16th. Morgan Stanley set a $172.00 price objective on Parker-Hannifin and gave the stock a “hold” rating in a research report on Saturday, February 2nd. Finally, Barclays boosted their price objective on Parker-Hannifin from $178.00 to $186.00 and gave the stock an “overweight” rating in a research report on Wednesday, April 3rd. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target 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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