Parker-Hannifin Corp. (PH) Shares Bought by TD Asset Management Inc.
TD Asset Management Inc. increased its position in shares of Parker-Hannifin Corp. (NYSE:PH) by 11.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 229,361 shares of the company’s stock after buying an additional 23,538 shares during the period. TD Asset Management Inc. owned about 0.17% of Parker-Hannifin Corp. worth $28,792,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the stock. Quantbot Technologies LP raised its stake 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 during 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 acquired a new stake in Parker-Hannifin Corp. during the second quarter valued at approximately $21,954,000. Meag Munich Ergo Kapitalanlagegesellschaft MBH acquired a new stake in Parker-Hannifin Corp. during the second quarter valued at approximately $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. 78.46% of the stock is currently owned by hedge funds and other institutional investors.
Parker-Hannifin Corp. (NYSE:PH) traded up 0.15% during mid-day trading on Tuesday, hitting $136.97. 106,785 shares of the stock traded hands. Parker-Hannifin Corp. has a 12-month low of $83.32 and a 12-month high of $140.07. The company has a market cap of $18.27 billion, a price-to-earnings ratio of 22.71 and a beta of 1.23. The firm’s 50-day moving average is $128.21 and its 200-day moving average is $119.84.
Parker-Hannifin Corp. (NYSE:PH) last issued its earnings results on Friday, October 21st. The company reported $1.61 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.56 by $0.05. The business had revenue of $2.74 billion for the quarter, compared to the consensus estimate of $2.78 billion. Parker-Hannifin Corp. had a net margin of 7.32% and a return on equity of 18.74%. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.52 earnings per share. Equities research analysts expect that Parker-Hannifin Corp. will post $6.82 EPS for the current year.
The business also recently disclosed 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. This represents a $2.52 annualized dividend and a dividend yield of 1.84%. The ex-dividend date of this dividend is Tuesday, November 8th. Parker-Hannifin Corp.’s dividend payout ratio (DPR) is 41.86%.
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PH has been the subject of a number of analyst reports. Morgan Stanley upgraded shares of Parker-Hannifin Corp. from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $118.00 to $139.00 in a research report on Monday, November 7th. Zacks Investment Research upgraded shares of Parker-Hannifin Corp. from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a research report on Tuesday, October 4th. TheStreet downgraded shares of Parker-Hannifin Corp. from a “buy” rating to a “hold” rating in a research report on Friday, October 21st. Stifel Nicolaus upgraded shares of Parker-Hannifin Corp. from a “hold” rating to a “buy” rating and upped their price objective for the stock from $131.00 to $141.00 in a research report on Wednesday, October 5th. Finally, Avondale Partners reiterated a “market perform” rating on shares of Parker-Hannifin Corp. in a research report on Monday, October 10th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. Parker-Hannifin Corp. currently has an average rating of “Hold” and an average target price of $123.00.
In related news, VP Robert W. Bond sold 14,043 shares of the firm’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $124.51, for a total value of $1,748,493.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 2.73% of the stock is currently owned by corporate insiders.
Parker-Hannifin Corp. Company Profile
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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