Tredje AP fonden Acquires 8,078 Shares of Parker-Hannifin Corporation (PH)
Tredje AP fonden increased its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 146.9% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 13,578 shares of the industrial products company’s stock after purchasing an additional 8,078 shares during the quarter. Tredje AP fonden’s holdings in Parker-Hannifin Corporation were worth $2,170,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Parallel Advisors LLC boosted its holdings in Parker-Hannifin Corporation by 4.1% during the second quarter. Parallel Advisors LLC now owns 612 shares of the industrial products company’s stock worth $102,000 after purchasing an additional 24 shares during the last quarter. Harbour Capital Advisors LLC acquired a new position in Parker-Hannifin Corporation during the first quarter worth $112,000. TrimTabs Asset Management LLC boosted its holdings in Parker-Hannifin Corporation by 88.5% during the first quarter. TrimTabs Asset Management LLC now owns 852 shares of the industrial products company’s stock worth $137,000 after purchasing an additional 400 shares during the last quarter. FNY Partners Fund LP acquired a new position in Parker-Hannifin Corporation during the first quarter worth $160,000. Finally, Independent Portfolio Consultants Inc. boosted its holdings in Parker-Hannifin Corporation by 74.3% during the second quarter. Independent Portfolio Consultants Inc. now owns 1,124 shares of the industrial products company’s stock worth $180,000 after purchasing an additional 479 shares during the last quarter. Institutional investors and hedge funds own 80.24% of the company’s stock.
Shares of Parker-Hannifin Corporation (NYSE PH) opened at 161.33 on Monday. The firm has a market capitalization of $21.48 billion, a P/E ratio of 22.25 and a beta of 1.41. Parker-Hannifin Corporation has a 52 week low of $118.77 and a 52 week high of $167.50. The firm’s 50-day moving average is $160.69 and its 200-day moving average is $159.26.
Parker-Hannifin Corporation (NYSE:PH) last announced its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, beating the Zacks’ 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 business had revenue of $3.50 billion for the quarter, compared to analysts’ expectations of $3.52 billion. During the same period in the previous year, the business posted $1.90 EPS. The firm’s quarterly revenue was up 18.2% compared to the same quarter last year. Equities analysts anticipate that Parker-Hannifin Corporation will post $9.08 EPS for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Monday, August 28th were given a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 1.64%. The ex-dividend date was Thursday, August 24th. Parker-Hannifin Corporation’s dividend payout ratio is presently 36.51%.
Several analysts have issued reports on the stock. Wolfe Research assumed coverage on shares of Parker-Hannifin Corporation in a research report on Tuesday, July 11th. They set an “outperform” rating and a $182.00 price target on the stock. Credit Suisse Group set a $189.00 price target on shares of Parker-Hannifin Corporation and gave the stock a “buy” rating in a research report on Sunday, May 28th. BidaskClub raised shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, June 21st. Robert W. Baird set a $163.00 price target on shares of Parker-Hannifin Corporation and gave the stock a “hold” rating in a research report on Thursday, August 24th. Finally, ValuEngine raised shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. One analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $172.06.
In other news, Director Candy M. Obourn sold 1,241 shares of the company’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $161.46, for a total transaction of $200,371.86. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Joseph R. Leonti sold 408 shares of the company’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $160.70, for a total value of $65,565.60. Following the sale, the vice president now owns 7,318 shares in the company, valued at $1,176,002.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 2,749 shares of company stock worth $441,544. Company insiders own 2.73% of the company’s stock.
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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