Parker-Hannifin Corporation (PH) Stake Held by SVA Plumb Wealth Management LLC
SVA Plumb Wealth Management LLC maintained its position in Parker-Hannifin Corporation (NYSE:PH) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,812 shares of the industrial products company’s stock at the end of the second quarter. SVA Plumb Wealth Management LLC’s holdings in Parker-Hannifin Corporation were worth $290,000 at the end of the most recent reporting period.
A number of other hedge funds also recently added to or reduced their stakes in PH. Israel Discount Bank of New York raised its stake in Parker-Hannifin Corporation by 31.6% in the second quarter. Israel Discount Bank of New York now owns 625 shares of the industrial products company’s stock worth $100,000 after buying an additional 150 shares in the last quarter. Parallel Advisors LLC raised its stake in Parker-Hannifin Corporation by 4.1% in the second quarter. Parallel Advisors LLC now owns 612 shares of the industrial products company’s stock worth $102,000 after buying an additional 24 shares in the last quarter. Harbour Capital Advisors LLC bought a new position in Parker-Hannifin Corporation in the first quarter worth about $112,000. TrimTabs Asset Management LLC raised its stake in Parker-Hannifin Corporation by 88.5% in the first quarter. TrimTabs Asset Management LLC now owns 852 shares of the industrial products company’s stock worth $137,000 after buying an additional 400 shares in the last quarter. Finally, FNY Partners Fund LP bought a new position in Parker-Hannifin Corporation in the first quarter worth about $160,000. 80.24% of the stock is owned by institutional investors.
In related news, Director Joseph Scaminace sold 500 shares of the business’s stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $158.35, for a total transaction of $79,175.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Joseph R. Leonti sold 408 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $160.70, for a total transaction of $65,565.60. Following the transaction, the vice president now owns 7,318 shares of the company’s stock, valued at approximately $1,176,002.60. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,749 shares of company stock valued at $441,544. 2.73% of the stock is currently owned by company insiders.
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Parker-Hannifin Corporation (PH) traded down 0.37% during midday trading on Wednesday, hitting $165.90. 66,211 shares of the stock were exchanged. Parker-Hannifin Corporation has a 12 month low of $118.77 and a 12 month high of $167.50. The company has a market cap of $22.09 billion, a PE ratio of 22.88 and a beta of 1.41. The firm’s 50 day moving average price is $160.70 and its 200 day moving average price is $159.40.
Parker-Hannifin Corporation (NYSE:PH) last posted its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.31 by $0.14. The firm had revenue of $3.50 billion during the quarter, compared to analyst estimates of $3.52 billion. Parker-Hannifin Corporation had a net margin of 8.18% and a return on equity of 22.90%. Parker-Hannifin Corporation’s revenue was up 18.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.90 EPS. On average, equities research analysts forecast that Parker-Hannifin Corporation will post $9.08 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Monday, August 28th were paid a dividend of $0.66 per share. The ex-dividend date of this dividend was Thursday, August 24th. This represents a $2.64 annualized dividend and a dividend yield of 1.59%. Parker-Hannifin Corporation’s dividend payout ratio (DPR) is presently 36.51%.
PH has been the subject of a number of research reports. J P Morgan Chase & Co set a $175.00 price target on shares of Parker-Hannifin Corporation and gave the stock a “buy” rating in a research note on Thursday, May 18th. 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 note on Sunday, May 28th. ValuEngine raised shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, June 14th. BidaskClub raised shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, June 21st. Finally, Jefferies Group LLC set a $163.00 price target on shares of Parker-Hannifin Corporation and gave the stock a “hold” rating in a research note on Wednesday, June 28th. 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’s stock. The company currently has an average rating of “Buy” and a consensus target price of $172.06.
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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