Parker-Hannifin Corp. (PH) Shares Sold by British Columbia Investment Management Corp
British Columbia Investment Management Corp decreased its stake in Parker-Hannifin Corp. (NYSE:PH) by 10.2% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 82,920 shares of the company’s stock after selling 9,374 shares during the period. British Columbia Investment Management Corp owned 0.06% of Parker-Hannifin Corp. worth $10,409,000 at the end of the most recent reporting period.
Several other hedge funds have also added to or reduced their stakes in the company. Quantbot Technologies LP boosted its position in Parker-Hannifin Corp. by 44.8% in the second quarter. Quantbot Technologies LP now owns 27,299 shares of the company’s stock valued at $2,949,000 after buying an additional 8,451 shares in the last quarter. PGGM Investments raised its stake in Parker-Hannifin Corp. by 10.7% in the second quarter. PGGM Investments now owns 369,816 shares of the company’s stock valued at $39,959,000 after buying an additional 35,677 shares during the last quarter. Smith Asset Management Group LP bought a new stake in Parker-Hannifin Corp. during the second quarter valued at about $21,954,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH bought a new stake in Parker-Hannifin Corp. during the second quarter valued at about $12,984,000. Finally, Aberdeen Asset Management PLC UK raised its stake in Parker-Hannifin Corp. by 0.7% in the second quarter. Aberdeen Asset Management PLC UK now owns 156,229 shares of the company’s stock valued at $16,881,000 after buying an additional 1,092 shares during the last quarter. Hedge funds and other institutional investors own 79.86% of the company’s stock.
Parker-Hannifin Corp. (NYSE:PH) traded up 0.54% during mid-day trading on Friday, reaching $139.04. The company’s stock had a trading volume of 253,968 shares. Parker-Hannifin Corp. has a one year low of $83.32 and a one year high of $140.07. The stock’s 50 day moving average is $127.86 and its 200 day moving average is $119.57. The firm has a market cap of $18.55 billion, a PE ratio of 23.05 and a beta of 1.23.
Parker-Hannifin Corp. (NYSE:PH) last posted its earnings results on Friday, October 21st. The company reported $1.61 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.56 by $0.05. Parker-Hannifin Corp. had a net margin of 7.32% and a return on equity of 18.74%. The business had revenue of $2.74 billion for the quarter, compared to analyst estimates of $2.78 billion. During the same period last year, the business posted $1.52 EPS. Parker-Hannifin Corp.’s revenue was down 4.4% compared to the same quarter last year. On average, analysts anticipate that Parker-Hannifin Corp. will post $6.82 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Investors of record on Thursday, November 10th will be paid a $0.63 dividend. The ex-dividend date is Tuesday, November 8th. This represents a $2.52 dividend on an annualized basis and a yield of 1.81%. Parker-Hannifin Corp.’s payout ratio is presently 41.86%.
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PH has been the subject of several analyst reports. Barclays PLC raised their price objective on Parker-Hannifin Corp. from $120.00 to $121.00 and gave the company an “equal weight” rating in a research note on Friday, August 5th. Citigroup Inc. raised their price objective on Parker-Hannifin Corp. from $115.00 to $120.00 and gave the company a “neutral” rating in a research note on Friday, August 5th. Credit Suisse Group AG reaffirmed a “buy” rating and issued a $131.00 price objective on shares of Parker-Hannifin Corp. in a research note on Friday, August 5th. Morgan Stanley set a $108.00 price target on Parker-Hannifin Corp. and gave the stock a “hold” rating in a research note on Friday, August 5th. Finally, Jefferies Group raised their price target on Parker-Hannifin Corp. from $100.00 to $110.00 and gave the stock a “hold” rating in a research note on Friday, August 5th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $123.07.
In related news, VP Robert W. Bond sold 14,043 shares of the firm’s stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $124.51, for a total value of $1,748,493.93. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 2.73% of the stock is currently owned by corporate insiders.
About Parker-Hannifin Corp.
Parker-Hannifin Corporation is a manufacturer of motion and control technologies and systems, providing precision engineered solutions for a range of mobile, industrial and aerospace markets. The Company operates through segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial Segment is an aggregation of several business units, which manufacture motion-control and fluid power system components for builders and users of various types of manufacturing, packaging, processing, transportation, agricultural, construction, and military vehicles and equipment.
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