Axa Has $17 Million Stake in Parker-Hannifin Corporation (PH)
Axa grew its stake in Parker-Hannifin Corporation (NYSE:PH) by 1.4% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 106,355 shares of the industrial products company’s stock after buying an additional 1,439 shares during the quarter. Axa owned 0.08% of Parker-Hannifin Corporation worth $16,998,000 as of its most recent SEC filing.
Other hedge funds also recently modified their holdings of the company. Two Sigma Securities LLC acquired a new position in shares of Parker-Hannifin Corporation in the 1st quarter valued at about $785,000. Stifel Financial Corp lifted its holdings in shares of Parker-Hannifin Corporation by 2.8% in the 1st quarter. Stifel Financial Corp now owns 353,400 shares of the industrial products company’s stock valued at $56,657,000 after buying an additional 9,777 shares during the period. Bank of Nova Scotia lifted its holdings in shares of Parker-Hannifin Corporation by 943.9% in the 1st quarter. Bank of Nova Scotia now owns 30,535 shares of the industrial products company’s stock valued at $4,896,000 after buying an additional 27,610 shares during the period. Boston Common Asset Management LLC lifted its holdings in shares of Parker-Hannifin Corporation by 4.7% in the 1st quarter. Boston Common Asset Management LLC now owns 3,255 shares of the industrial products company’s stock valued at $522,000 after buying an additional 145 shares during the period. Finally, Schwab Charles Investment Management Inc. lifted its holdings in shares of Parker-Hannifin Corporation by 3.9% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 437,369 shares of the industrial products company’s stock valued at $70,119,000 after buying an additional 16,479 shares during the period. 80.24% of the stock is owned by institutional investors and hedge funds.
In related news, Director Joseph Scaminace sold 500 shares of Parker-Hannifin Corporation stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $158.35, for a total transaction of $79,175.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Candy M. Obourn sold 1,241 shares of Parker-Hannifin Corporation stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $161.46, for a total value of $200,371.86. The disclosure for this sale can be found here. Insiders have sold a total of 2,749 shares of company stock valued at $441,544 over the last 90 days. Insiders own 2.73% of the company’s stock.
PH has been the subject of a number of analyst reports. Wolfe Research initiated coverage on Parker-Hannifin Corporation in a report on Tuesday, July 11th. They issued an “outperform” rating and a $182.00 price target for the company. Credit Suisse Group set a $189.00 price target on Parker-Hannifin Corporation and gave the stock a “buy” rating in a report on Sunday, May 28th. BidaskClub raised Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, June 21st. Robert W. Baird set a $163.00 price target on Parker-Hannifin Corporation and gave the stock a “hold” rating in a report on Thursday, August 24th. Finally, ValuEngine raised Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. One research analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have issued a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $172.06.
Shares of Parker-Hannifin Corporation (PH) opened at 161.33 on Monday. Parker-Hannifin Corporation has a 1-year low of $118.77 and a 1-year high of $167.50. The stock has a market capitalization of $21.48 billion, a price-to-earnings ratio of 22.25 and a beta of 1.41. The firm’s 50-day moving average price is $160.69 and its 200 day moving average price is $159.26.
Parker-Hannifin Corporation (NYSE:PH) last issued its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.31 by $0.14. Parker-Hannifin Corporation had a return on equity of 22.90% and a net margin of 8.18%. The firm had revenue of $3.50 billion during the quarter, compared to the consensus estimate of $3.52 billion. During the same period in the previous year, the firm posted $1.90 EPS. The company’s quarterly revenue was up 18.2% compared to the same quarter last year. Equities research analysts expect that Parker-Hannifin Corporation will post $9.08 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Monday, August 28th were given a dividend of $0.66 per share. The ex-dividend date was Thursday, August 24th. This represents a $2.64 annualized dividend and a dividend yield of 1.64%. Parker-Hannifin Corporation’s dividend payout ratio is currently 36.51%.
About Parker-Hannifin Corporation
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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