Norinchukin Bank The Boosts Holdings in Parker-Hannifin Corporation (PH)
Norinchukin Bank The raised its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 6.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,242 shares of the industrial products company’s stock after acquiring an additional 580 shares during the period. Norinchukin Bank The’s holdings in Parker-Hannifin Corporation were worth $1,477,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently bought and sold shares of PH. UBS Asset Management Americas Inc. grew its position in Parker-Hannifin Corporation by 13.0% during the first quarter. UBS Asset Management Americas Inc. now owns 431,920 shares of the industrial products company’s stock valued at $69,245,000 after acquiring an additional 49,694 shares during the period. Gabelli Funds LLC grew its position in Parker-Hannifin Corporation by 31.9% during the first quarter. Gabelli Funds LLC now owns 31,000 shares of the industrial products company’s stock valued at $4,970,000 after acquiring an additional 7,500 shares during the period. Karp Capital Management Corp purchased a new stake in Parker-Hannifin Corporation during the first quarter valued at about $12,702,000. Sei Investments Co. boosted its position in shares of Parker-Hannifin Corporation by 23.7% in the first quarter. Sei Investments Co. now owns 91,286 shares of the industrial products company’s stock worth $14,635,000 after buying an additional 17,514 shares during the period. Finally, Capital Analysts LLC purchased a new stake in shares of Parker-Hannifin Corporation in the first quarter worth about $797,000. 80.24% of the stock is owned by hedge funds and other institutional investors.
PH has been the subject of several analyst reports. Credit Suisse Group set a $189.00 target price on Parker-Hannifin Corporation and gave the stock a “buy” rating in a research report on Sunday, May 28th. ValuEngine raised Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, June 14th. BidaskClub raised Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, June 21st. Jefferies Group LLC set a $163.00 target price on Parker-Hannifin Corporation and gave the stock a “hold” rating in a research report on Wednesday, June 28th. Finally, Stifel Nicolaus reaffirmed a “buy” rating and issued a $176.00 target price on shares of Parker-Hannifin Corporation in a research report on Thursday, July 6th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and sixteen have assigned a buy rating to the stock. Parker-Hannifin Corporation has a consensus rating of “Buy” and an average price target of $174.38.
Shares of Parker-Hannifin Corporation (NYSE:PH) opened at 169.69 on Friday. The stock’s 50 day moving average price is $161.07 and its 200-day moving average price is $159.70. The firm has a market capitalization of $22.59 billion, a PE ratio of 23.41 and a beta of 1.41. Parker-Hannifin Corporation has a 12 month low of $118.77 and a 12 month high of $170.67.
Parker-Hannifin Corporation (NYSE:PH) last announced its quarterly earnings results on Thursday, August 3rd. The industrial products company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.14. The firm had revenue of $3.50 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same quarter last year, the company earned $1.90 earnings per share. On average, equities analysts anticipate that Parker-Hannifin Corporation will post $9.08 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Monday, August 28th were paid a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.56%. The ex-dividend date was Thursday, August 24th. Parker-Hannifin Corporation’s dividend payout ratio (DPR) is currently 36.51%.
In other news, VP Martin C. Maxwell sold 2,640 shares of Parker-Hannifin Corporation stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $165.67, for a total value of $437,368.80. Following the completion of the transaction, the vice president now owns 31,718 shares in the company, valued at $5,254,721.06. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Mark J. Hart sold 600 shares of Parker-Hannifin Corporation stock in a transaction that occurred on Thursday, August 31st. The shares were sold at an average price of $160.72, for a total transaction of $96,432.00. Following the completion of the transaction, the executive vice president now owns 5,851 shares of the company’s stock, valued at approximately $940,372.72. The disclosure for this sale can be found here. Insiders sold 5,389 shares of company stock valued at $878,913 in the last quarter. 2.73% of the stock is currently owned by corporate insiders.
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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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