Achmea Investment Management B.V. reduced its position in Parker-Hannifin Corp (NYSE:PH) by 19.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 35,292 shares of the industrial products company’s stock after selling 8,632 shares during the quarter. Achmea Investment Management B.V.’s holdings in Parker-Hannifin were worth $6,489,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the stock. Fulcrum Capital LLC grew its stake in Parker-Hannifin by 6.5% in the 3rd quarter. Fulcrum Capital LLC now owns 20,428 shares of the industrial products company’s stock worth $3,757,000 after acquiring an additional 1,248 shares in the last quarter. Dupont Capital Management Corp boosted its stake in shares of Parker-Hannifin by 53.1% during the third quarter. Dupont Capital Management Corp now owns 68,754 shares of the industrial products company’s stock valued at $12,646,000 after purchasing an additional 23,846 shares in the last quarter. FTB Advisors Inc. boosted its stake in shares of Parker-Hannifin by 1.3% during the third quarter. FTB Advisors Inc. now owns 27,073 shares of the industrial products company’s stock valued at $5,849,000 after purchasing an additional 357 shares in the last quarter. Pegasus Asset Management Inc. bought a new position in shares of Parker-Hannifin during the third quarter valued at approximately $2,002,000. Finally, Los Angeles Capital Management & Equity Research Inc. boosted its stake in shares of Parker-Hannifin by 99.7% during the third quarter. Los Angeles Capital Management & Equity Research Inc. now owns 6,470 shares of the industrial products company’s stock valued at $1,190,000 after purchasing an additional 3,230 shares in the last quarter. 79.34% of the stock is currently owned by institutional investors.
A number of equities analysts have recently issued reports on PH shares. Goldman Sachs Group downgraded shares of Parker-Hannifin from a “buy” rating to a “neutral” rating and set a $164.00 price objective on the stock. in a research note on Monday, July 16th. Buckingham Research upgraded shares of Parker-Hannifin from a “neutral” rating to a “buy” rating in a research note on Friday, September 14th. ValuEngine upgraded shares of Parker-Hannifin from a “sell” rating to a “hold” rating in a research note on Tuesday. Stifel Nicolaus increased their price objective on shares of Parker-Hannifin from $200.00 to $212.00 and gave the company a “buy” rating in a research note on Monday, September 24th. Finally, Morgan Stanley dropped their price objective on shares of Parker-Hannifin from $187.00 to $179.00 and set a “hold” rating on the stock in a research note on Monday, November 5th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company. Parker-Hannifin currently has a consensus rating of “Hold” and an average price target of $186.72.
In other Parker-Hannifin news, VP Joseph R. Leonti sold 1,605 shares of the firm’s stock in a transaction on Wednesday, September 5th. The shares were sold at an average price of $176.56, for a total value of $283,378.80. Following the completion of the transaction, the vice president now owns 15,731 shares of the company’s stock, valued at $2,777,465.36. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP William R. Bowman sold 2,400 shares of the firm’s stock in a transaction on Wednesday, August 29th. The stock was sold at an average price of $175.36, for a total transaction of $420,864.00. Following the completion of the transaction, the vice president now directly owns 1,325 shares of the company’s stock, valued at approximately $232,352. The disclosure for this sale can be found here. 1.12% of the stock is owned by company insiders.
Shares of PH opened at $167.33 on Friday. The company has a market capitalization of $22.14 billion, a price-to-earnings ratio of 16.06, a PEG ratio of 1.28 and a beta of 1.52. Parker-Hannifin Corp has a twelve month low of $143.00 and a twelve month high of $212.80. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.60 and a quick ratio of 1.07.
Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, November 1st. The industrial products company reported $2.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.53 by $0.31. The company had revenue of $3.48 billion during the quarter, compared to the consensus estimate of $3.54 billion. Parker-Hannifin had a net margin of 7.98% and a return on equity of 25.49%. Parker-Hannifin’s revenue was up 3.4% compared to the same quarter last year. During the same period last year, the firm earned $2.24 earnings per share. On average, equities analysts predict that Parker-Hannifin Corp will post 11.57 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 7th. Shareholders of record on Friday, November 9th will be paid a $0.76 dividend. The ex-dividend date is Thursday, November 8th. This represents a $3.04 annualized dividend and a yield of 1.82%. Parker-Hannifin’s dividend payout ratio (DPR) is 29.17%.
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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.
Further Reading: Outstanding Shares
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