Victory Capital Management Inc. lifted its stake in Parker-Hannifin Corp (NYSE:PH) by 18.4% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 1,739,098 shares of the industrial products company’s stock after acquiring an additional 270,202 shares during the quarter. Parker-Hannifin accounts for 0.7% of Victory Capital Management Inc.’s investment portfolio, making the stock its 9th largest position. Victory Capital Management Inc. owned 1.31% of Parker-Hannifin worth $259,369,000 as of its most recent filing with the SEC.
Other hedge funds also recently modified their holdings of the company. Lafayette Investments Inc. acquired a new stake in shares of Parker-Hannifin in the 4th quarter valued at $388,000. Rothschild & Co. Asset Management US Inc. raised its holdings in shares of Parker-Hannifin by 0.9% in the 4th quarter. Rothschild & Co. Asset Management US Inc. now owns 219,793 shares of the industrial products company’s stock valued at $32,779,000 after purchasing an additional 1,861 shares in the last quarter. Cambridge Investment Research Advisors Inc. raised its holdings in shares of Parker-Hannifin by 1.9% in the 4th quarter. Cambridge Investment Research Advisors Inc. now owns 4,849 shares of the industrial products company’s stock valued at $723,000 after purchasing an additional 92 shares in the last quarter. Daiwa Securities Group Inc. raised its holdings in shares of Parker-Hannifin by 4.2% in the 4th quarter. Daiwa Securities Group Inc. now owns 5,003 shares of the industrial products company’s stock valued at $746,000 after purchasing an additional 200 shares in the last quarter. Finally, Pinnacle Associates Ltd. grew its position in shares of Parker-Hannifin by 126.8% in the 4th quarter. Pinnacle Associates Ltd. now owns 5,882 shares of the industrial products company’s stock valued at $877,000 after buying an additional 3,288 shares during the last quarter. Hedge funds and other institutional investors own 80.82% of the company’s stock.
Parker-Hannifin stock traded up $5.44 during midday trading on Tuesday, hitting $169.28. 11,197 shares of the company’s stock were exchanged, compared to its average volume of 948,868. Parker-Hannifin Corp has a 12-month low of $140.82 and a 12-month high of $193.19. The company has a market capitalization of $21.68 billion, a P/E ratio of 16.13, a PEG ratio of 1.52 and a beta of 1.46. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.01 and a current ratio of 1.52.
Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, January 31st. The industrial products company reported $2.51 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.41 by $0.10. Parker-Hannifin had a net margin of 9.69% and a return on equity of 25.82%. The company had revenue of $3.47 billion during the quarter, compared to analysts’ expectations of $3.45 billion. During the same quarter last year, the business earned $2.15 EPS. As a group, equities analysts expect that Parker-Hannifin Corp will post 11.65 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, February 8th will be paid a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 1.80%. The ex-dividend date is Thursday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is 29.17%.
A number of research analysts recently commented on the stock. Cowen downgraded shares of Parker-Hannifin from a “market perform” rating to an “underperform” rating in a research report on Monday, October 15th. Morgan Stanley dropped their target price on shares of Parker-Hannifin from $187.00 to $179.00 and set a “hold” rating on the stock in a research report on Monday, November 5th. Barclays dropped their target price on shares of Parker-Hannifin from $180.00 to $173.00 and set an “overweight” rating on the stock in a research report on Monday, January 7th. Zacks Investment Research downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Thursday, October 18th. Finally, Robert W. Baird set a $170.00 target price on shares of Parker-Hannifin and gave the company a “buy” rating in a research report on Friday, January 25th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Parker-Hannifin presently has a consensus rating of “Hold” and an average price target of $181.63.
In related news, Director Candy M. Obourn sold 926 shares of the firm’s stock in a transaction dated Thursday, February 7th. The shares were sold at an average price of $162.18, for a total value of $150,178.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.12% of the stock is owned by company insiders.
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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