O Shares Investment Advisers LLC lifted its position in shares of Parker-Hannifin Corp (NYSE:PH) by 3.0% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 3,836 shares of the industrial products company’s stock after purchasing an additional 112 shares during the quarter. O Shares Investment Advisers LLC’s holdings in Parker-Hannifin were worth $658,000 as of its most recent SEC filing.
Several other hedge funds have also recently bought and sold shares of PH. Dubuque Bank & Trust Co. raised its holdings in Parker-Hannifin by 97.5% during the first 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 in the last quarter. First Mercantile Trust Co. raised its holdings in Parker-Hannifin by 58.3% during the fourth quarter. First Mercantile Trust Co. now owns 190 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 70 shares in the last quarter. Athena Capital Advisors LLC bought a new stake in Parker-Hannifin during the fourth quarter worth about $32,000. Trustcore Financial Services LLC bought a new stake in Parker-Hannifin during the first quarter worth about $34,000. Finally, Gemmer Asset Management LLC raised its holdings in Parker-Hannifin by 162.3% during the first quarter. Gemmer Asset Management LLC now owns 202 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 125 shares in the last quarter. 79.68% of the stock is owned by institutional investors.
Several research firms have issued reports on PH. Stifel Nicolaus upped their price objective on Parker-Hannifin from $171.00 to $182.00 and gave the company a “hold” rating in a research note on Tuesday, April 16th. Barclays upped their price objective on Parker-Hannifin from $178.00 to $186.00 and gave the company an “overweight” rating in a research note on Wednesday, April 3rd. Citigroup upped their price objective on Parker-Hannifin from $178.00 to $190.00 and gave the company a “neutral” rating in a research note on Monday, May 6th. Finally, Morgan Stanley set a $179.00 price objective on Parker-Hannifin and gave the company a “hold” rating in a research note on Friday, May 3rd. Two research 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 stock presently has a consensus rating of “Hold” and an average price target of $182.35.
Shares of NYSE PH traded down $1.71 during trading hours on Wednesday, reaching $165.37. 16,038 shares of the stock were exchanged, compared to its average volume of 919,361. The firm has a market cap of $21.17 billion, a P/E ratio of 15.86, a price-to-earnings-growth ratio of 1.56 and a beta of 1.53. The company has a current ratio of 1.56, a quick ratio of 1.07 and a debt-to-equity ratio of 0.71. Parker-Hannifin Corp has a 52 week low of $140.82 and a 52 week high of $193.19.
Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, May 2nd. The industrial products company reported $3.17 earnings per share for the quarter, topping the Zacks’ consensus estimate of $3.01 by $0.16. The company had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.72 billion. Parker-Hannifin had a return on equity of 26.27% and a net margin of 10.04%. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same quarter last year, the company earned $2.80 earnings per share. Analysts forecast that Parker-Hannifin Corp will post 11.64 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 10th were paid a dividend of $0.88 per share. The ex-dividend date of this dividend was Thursday, May 9th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.13%. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $0.76. Parker-Hannifin’s dividend payout ratio (DPR) is 33.78%.
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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