Braun Bostich & Associates Inc. lessened its stake in Parker-Hannifin Corp (NYSE:PH) by 61.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,021 shares of the industrial products company’s stock after selling 1,610 shares during the period. Braun Bostich & Associates Inc.’s holdings in Parker-Hannifin were worth $175,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Legal & General Group Plc grew its position in Parker-Hannifin by 6.3% in the 4th quarter. Legal & General Group Plc now owns 653,420 shares of the industrial products company’s stock worth $97,451,000 after purchasing an additional 38,840 shares during the period. Longview Partners Guernsey LTD boosted its stake in shares of Parker-Hannifin by 41.6% during the 4th quarter. Longview Partners Guernsey LTD now owns 5,626,117 shares of the industrial products company’s stock worth $839,079,000 after acquiring an additional 1,653,011 shares during the last quarter. Nuveen Asset Management LLC boosted its stake in shares of Parker-Hannifin by 38.8% during the 4th quarter. Nuveen Asset Management LLC now owns 27,190 shares of the industrial products company’s stock worth $4,055,000 after acquiring an additional 7,598 shares during the last quarter. Boston Partners boosted its stake in shares of Parker-Hannifin by 3.0% during the 4th quarter. Boston Partners now owns 1,655,530 shares of the industrial products company’s stock worth $246,906,000 after acquiring an additional 48,681 shares during the last quarter. Finally, Sumitomo Life Insurance Co. boosted its stake in shares of Parker-Hannifin by 1.6% during the 4th quarter. Sumitomo Life Insurance Co. now owns 6,195 shares of the industrial products company’s stock worth $924,000 after acquiring an additional 98 shares during the last quarter. 79.49% of the stock is owned by institutional investors and hedge funds.
Several brokerages have recently weighed in on PH. Stifel Nicolaus lifted their price target on shares of Parker-Hannifin from $171.00 to $182.00 and gave the stock a “hold” rating in a research note on Tuesday, April 16th. Morgan Stanley set a $179.00 price target on shares of Parker-Hannifin and gave the stock a “hold” rating in a research note on Friday, May 3rd. Barclays lifted their price target on shares of Parker-Hannifin from $178.00 to $186.00 and gave the stock an “overweight” rating in a research note on Wednesday, April 3rd. Citigroup lifted their price target on shares of Parker-Hannifin from $178.00 to $190.00 and gave the stock a “neutral” rating in a research note on Monday, May 6th. Finally, Vertical Research cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating and set a $175.00 price target on the stock. in a research note on Friday, February 1st. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target of $182.35.
PH opened at $158.62 on Friday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.07 and a current ratio of 1.56. Parker-Hannifin Corp has a fifty-two week low of $140.82 and a fifty-two week high of $193.19. The firm has a market cap of $21.03 billion, a P/E ratio of 15.22, a PEG ratio of 1.56 and a beta of 1.46.
Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, May 2nd. The industrial products company reported $3.17 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $3.72 billion. During the same quarter in the previous year, the company earned $2.80 EPS. Parker-Hannifin’s revenue for the quarter was down 1.7% on a year-over-year basis. As a group, equities analysts expect that Parker-Hannifin Corp will post 11.64 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 10th will be paid a dividend of $0.88 per share. This is a boost from Parker-Hannifin’s previous quarterly dividend of $0.76. The ex-dividend date of this dividend is Thursday, May 9th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.22%. Parker-Hannifin’s payout ratio is 33.78%.
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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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