Dynamic Technology Lab Private Ltd increased its position in Parker-Hannifin Corp (NYSE:PH) by 74.5% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 8,882 shares of the industrial products company’s stock after buying an additional 3,792 shares during the period. Dynamic Technology Lab Private Ltd’s holdings in Parker-Hannifin were worth $1,634,000 at the end of the most recent reporting period.
A number of other large investors have also recently added to or reduced their stakes in the stock. Raymond James Financial Services Advisors Inc. raised its stake in shares of Parker-Hannifin by 4.7% during the second quarter. Raymond James Financial Services Advisors Inc. now owns 22,691 shares of the industrial products company’s stock valued at $3,537,000 after acquiring an additional 1,025 shares in the last quarter. Alps Advisors Inc. bought a new stake in shares of Parker-Hannifin during the second quarter valued at approximately $563,000. Migdal Insurance & Financial Holdings Ltd. raised its stake in shares of Parker-Hannifin by 5,815.4% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 769 shares of the industrial products company’s stock valued at $120,000 after acquiring an additional 756 shares in the last quarter. Smith Asset Management Group LP raised its stake in shares of Parker-Hannifin by 5.1% during the second quarter. Smith Asset Management Group LP now owns 164,546 shares of the industrial products company’s stock valued at $25,677,000 after acquiring an additional 7,994 shares in the last quarter. Finally, Wells Fargo & Company MN raised its stake in shares of Parker-Hannifin by 19.3% during the second quarter. Wells Fargo & Company MN now owns 562,071 shares of the industrial products company’s stock valued at $87,600,000 after acquiring an additional 91,004 shares in the last quarter. Hedge funds and other institutional investors own 79.67% of the company’s stock.
Shares of PH stock opened at $157.04 on Friday. The company has a market cap of $22.03 billion, a P/E ratio of 15.07, a price-to-earnings-growth ratio of 1.27 and a beta of 1.56. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.07 and a current ratio of 1.60. Parker-Hannifin Corp has a 52-week low of $143.00 and a 52-week high of $212.80.
Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, November 1st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.53 by $0.31. Parker-Hannifin had a net margin of 7.98% and a return on equity of 25.49%. The business had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.54 billion. During the same period in the previous year, the company earned $2.24 earnings per share. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. Sell-side analysts anticipate that Parker-Hannifin Corp will post 11.61 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Friday, December 7th. Shareholders of record on Friday, November 9th were issued a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 1.94%. The ex-dividend date was Thursday, November 8th. Parker-Hannifin’s dividend payout ratio is currently 29.17%.
Several research firms have recently weighed in on PH. Morgan Stanley began coverage on shares of Parker-Hannifin in a research note on Monday, August 20th. They set an “equal weight” rating and a $185.00 price target for the company. Wells Fargo & Co lifted their price objective on shares of Parker-Hannifin from $185.00 to $193.00 and gave the company a “market perform” rating in a report on Thursday, September 27th. Cowen lowered shares of Parker-Hannifin from a “market perform” rating to an “underperform” rating in a report on Monday, October 15th. Deutsche Bank lifted their price objective on shares of Parker-Hannifin from $176.00 to $184.00 and gave the company a “hold” rating in a report on Friday, September 28th. Finally, Zacks Investment Research lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Thursday, October 18th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $186.72.
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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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