Northwestern Mutual Wealth Management Co. Buys 43 Shares of Parker-Hannifin Corporation (PH)
Northwestern Mutual Wealth Management Co. raised its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 2.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,689 shares of the industrial products company’s stock after buying an additional 43 shares during the period. Northwestern Mutual Wealth Management Co.’s holdings in Parker-Hannifin Corporation were worth $270,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors also recently bought and sold shares of the company. Two Sigma Securities LLC bought a new position in Parker-Hannifin Corporation during the first quarter valued at about $785,000. Stifel Financial Corp raised its holdings in Parker-Hannifin Corporation by 2.8% during the first 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 in the last quarter. Bank of Nova Scotia raised its holdings in Parker-Hannifin Corporation by 943.9% during the first 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 in the last quarter. Boston Common Asset Management LLC raised its holdings in Parker-Hannifin Corporation by 4.7% during the first 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 in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its holdings in Parker-Hannifin Corporation by 3.9% during the first 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 in the last quarter. Institutional investors own 79.72% of the company’s stock.
Several equities analysts have weighed in on PH shares. BidaskClub lowered Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Jefferies Group LLC set a $163.00 target price on Parker-Hannifin Corporation and gave the company a “hold” rating in a report on Wednesday, June 28th. Stifel Nicolaus set a $198.00 target price on Parker-Hannifin Corporation and gave the company a “buy” rating in a report on Friday, August 4th. ValuEngine upgraded Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Finally, Wolfe Research started coverage on Parker-Hannifin Corporation in a report on Tuesday, July 11th. They set an “outperform” rating and a $182.00 target price on the stock. One research analyst has rated the stock with a sell rating, five have issued a hold rating and sixteen have given a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $174.38.
Parker-Hannifin Corporation (NYSE PH) opened at 169.69 on Monday. The company’s 50-day moving average price is $161.07 and its 200 day moving average price is $159.70. Parker-Hannifin Corporation has a 52 week low of $118.77 and a 52 week high of $170.67. The company has a market capitalization of $22.59 billion, a price-to-earnings ratio of 23.41 and a beta of 1.41.
Parker-Hannifin Corporation (NYSE:PH) last released its quarterly earnings results on Thursday, August 3rd. The industrial products company reported $2.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.31 by $0.14. The firm had revenue of $3.50 billion for 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 business’s revenue was up 18.2% on a year-over-year basis. During the same period in the prior year, the firm earned $1.90 EPS. On average, analysts predict 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. Shareholders of record on Monday, August 28th were issued a $0.66 dividend. The ex-dividend date was Thursday, August 24th. This represents a $2.64 annualized dividend and a yield of 1.56%. Parker-Hannifin Corporation’s dividend payout ratio is currently 36.51%.
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In other news, VP Martin C. Maxwell sold 2,640 shares of the firm’s stock in a transaction that occurred on Tuesday, September 12th. The shares were sold at an average price of $165.67, for a total transaction of $437,368.80. Following the transaction, the vice president now directly owns 31,718 shares of the company’s stock, valued at $5,254,721.06. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph Scaminace sold 500 shares of the firm’s 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 disclosure for this sale can be found here. Over the last three months, insiders sold 5,389 shares of company stock worth $878,913. Insiders own 2.73% of the company’s stock.
Parker-Hannifin Corporation 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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