Tocqueville Asset Management L.P. increased its stake in shares of Parker-Hannifin Corp (NYSE:PH) by 13.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 44,250 shares of the industrial products company’s stock after purchasing an additional 5,400 shares during the period. Tocqueville Asset Management L.P.’s holdings in Parker-Hannifin were worth $8,139,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Republic Investment Management Inc. boosted its position in shares of Parker-Hannifin by 12.6% in the third quarter. First Republic Investment Management Inc. now owns 4,302 shares of the industrial products company’s stock worth $791,000 after purchasing an additional 480 shares during the period. Highbridge Capital Management LLC bought a new position in shares of Parker-Hannifin during the third quarter worth $2,311,000. Rand Wealth LLC bought a new position in shares of Parker-Hannifin during the third quarter worth $209,000. Loomis Sayles & Co. L P bought a new position in shares of Parker-Hannifin during the third quarter worth $58,367,000. Finally, Diamond Hill Capital Management Inc. boosted its position in shares of Parker-Hannifin by 2.9% during the third quarter. Diamond Hill Capital Management Inc. now owns 1,659,940 shares of the industrial products company’s stock worth $305,313,000 after acquiring an additional 47,057 shares during the last quarter. 79.67% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages recently weighed in on PH. Stifel Nicolaus upped their target price on shares of Parker-Hannifin from $200.00 to $212.00 and gave the stock a “buy” rating in a research report on Monday, September 24th. Wells Fargo & Co upped their target price on shares of Parker-Hannifin from $185.00 to $193.00 and gave the stock a “market perform” rating in a research report on Thursday, September 27th. Deutsche Bank upped their target price on shares of Parker-Hannifin from $176.00 to $184.00 and gave the stock a “hold” rating in a research report on Friday, September 28th. Buckingham Research raised shares of Parker-Hannifin from a “neutral” rating to a “buy” rating in a research note on Friday, September 14th. Finally, Barclays assumed coverage on shares of Parker-Hannifin in a research note on Thursday, September 6th. They set an “overweight” rating and a $200.00 price target on the stock. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. Parker-Hannifin presently has an average rating of “Hold” and an average target price of $186.72.
Parker-Hannifin stock opened at $157.04 on Friday. The firm has a market cap of $21.62 billion, a P/E ratio of 15.07, a price-to-earnings-growth ratio of 1.25 and a beta of 1.56. The company has a current ratio of 1.60, a quick ratio of 1.07 and a debt-to-equity ratio of 0.71. Parker-Hannifin Corp has a 52-week low of $143.00 and a 52-week high of $212.80.
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. 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 the consensus estimate of $3.54 billion. During the same quarter in the prior year, the firm posted $2.24 earnings per share. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, equities research analysts predict that Parker-Hannifin Corp will post 11.61 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, December 7th. Stockholders of record on Friday, November 9th were paid a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 1.94%. The ex-dividend date was Thursday, November 8th. Parker-Hannifin’s dividend payout ratio is currently 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.
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