Parker-Hannifin Corporation (PH) Shares Sold by Great Lakes Advisors LLC
Great Lakes Advisors LLC lowered its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 97.2% during the second quarter, according to its most recent filing with the SEC. The institutional investor owned 4,685 shares of the industrial products company’s stock after selling 165,615 shares during the period. Great Lakes Advisors LLC’s holdings in Parker-Hannifin Corporation were worth $749,000 as of its most recent SEC filing.
A number of other hedge funds have also recently modified their holdings of the stock. BlackRock Inc. boosted its stake in shares of Parker-Hannifin Corporation by 2,619.0% in the first quarter. BlackRock Inc. now owns 8,166,311 shares of the industrial products company’s stock worth $1,309,223,000 after buying an additional 7,865,974 shares during the period. FMR LLC boosted its stake in shares of Parker-Hannifin Corporation by 1,163.3% in the first quarter. FMR LLC now owns 1,754,907 shares of the industrial products company’s stock worth $281,346,000 after buying an additional 1,615,987 shares during the period. Jennison Associates LLC boosted its stake in shares of Parker-Hannifin Corporation by 28.5% in the second quarter. Jennison Associates LLC now owns 6,026,440 shares of the industrial products company’s stock worth $963,146,000 after buying an additional 1,336,541 shares during the period. Longview Partners Guernsey LTD boosted its stake in shares of Parker-Hannifin Corporation by 7.6% in the second quarter. Longview Partners Guernsey LTD now owns 5,134,958 shares of the industrial products company’s stock worth $820,669,000 after buying an additional 362,076 shares during the period. Finally, American Century Companies Inc. boosted its stake in shares of Parker-Hannifin Corporation by 25.8% in the second quarter. American Century Companies Inc. now owns 1,754,509 shares of the industrial products company’s stock worth $280,406,000 after buying an additional 359,937 shares during the period. 80.21% of the stock is currently owned by institutional investors and hedge funds.
Shares of Parker-Hannifin Corporation (NYSE:PH) opened at 160.46 on Thursday. The company has a 50 day moving average of $161.87 and a 200-day moving average of $158.71. The firm has a market cap of $21.36 billion, a price-to-earnings ratio of 22.13 and a beta of 1.40. Parker-Hannifin Corporation has a 12-month low of $118.77 and a 12-month high of $167.50.
Parker-Hannifin Corporation (NYSE:PH) last posted its earnings results on Thursday, August 3rd. The industrial products company reported $2.45 EPS for the quarter, beating analysts’ consensus estimates of $2.31 by $0.14. The business had revenue of $3.50 billion for the quarter, compared to the consensus estimate of $3.52 billion. Parker-Hannifin Corporation had a net margin of 8.18% and a return on equity of 22.90%. The company’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same quarter last year, the firm posted $1.90 EPS. Analysts predict that Parker-Hannifin Corporation will post $9.08 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, September 8th. Shareholders of record on Monday, August 28th will be given a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date of this dividend is Thursday, August 24th. Parker-Hannifin Corporation’s dividend payout ratio (DPR) is 36.51%.
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PH has been the topic of a number of research analyst reports. J P Morgan Chase & Co set a $175.00 price target on shares of Parker-Hannifin Corporation and gave the company a “buy” rating in a research report on Thursday, May 18th. BidaskClub cut shares of Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Jefferies Group LLC set a $163.00 price target on shares of Parker-Hannifin Corporation and gave the company a “hold” rating in a research report on Wednesday, June 28th. Stifel Nicolaus set a $198.00 price target on shares of Parker-Hannifin Corporation and gave the company a “buy” rating in a research report on Friday, August 4th. Finally, ValuEngine raised shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, June 14th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have issued a buy rating to the company. Parker-Hannifin Corporation currently has an average rating of “Buy” and a consensus price target of $172.06.
In other news, Director Joseph Scaminace sold 500 shares of the firm’s stock in a transaction dated Monday, August 28th. The shares were sold at an average price of $158.35, for a total value of $79,175.00. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP John G. Dedinsky, Jr. sold 2,530 shares of the firm’s stock in a transaction dated Friday, June 2nd. The shares were sold at an average price of $160.98, for a total transaction of $407,279.40. Following the completion of the sale, the vice president now owns 21,753 shares in the company, valued at $3,501,797.94. The disclosure for this sale can be found here. Company insiders own 2.73% of the company’s stock.
Parker-Hannifin Corporation 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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