Parker-Hannifin Corporation (PH) Shares Sold by Harris Associates L P
Harris Associates L P reduced its stake in Parker-Hannifin Corporation (NYSE:PH) by 0.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,554,020 shares of the industrial products company’s stock after selling 205 shares during the period. Harris Associates L P owned about 1.92% of Parker-Hannifin Corporation worth $408,183,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds also recently bought and sold shares of the company. Tredje AP fonden boosted its stake in shares of Parker-Hannifin Corporation by 146.9% in the 2nd quarter. Tredje AP fonden now owns 13,578 shares of the industrial products company’s stock valued at $2,170,000 after purchasing an additional 8,078 shares in the last quarter. Two Sigma Securities LLC acquired a new stake in shares of Parker-Hannifin Corporation in the 1st quarter valued at approximately $785,000. Stifel Financial Corp boosted its stake 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 purchasing an additional 9,777 shares in the last quarter. Bank of Nova Scotia boosted its stake 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 purchasing an additional 27,610 shares in the last quarter. Finally, Boston Common Asset Management LLC boosted its stake 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 purchasing an additional 145 shares in the last quarter. Institutional investors own 79.72% of the company’s stock.
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A number of brokerages recently issued reports on PH. ValuEngine upgraded shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. KeyCorp reiterated an “overweight” rating and issued a $185.00 price objective on shares of Parker-Hannifin Corporation in a report on Saturday, September 16th. Jefferies Group LLC reiterated a “hold” rating and issued a $165.00 price objective (up previously from $163.00) on shares of Parker-Hannifin Corporation in a report on Wednesday, August 9th. Stifel Nicolaus reiterated a “buy” rating and issued a $176.00 price objective on shares of Parker-Hannifin Corporation in a report on Thursday, July 6th. Finally, Wolfe Research began coverage on shares of Parker-Hannifin Corporation in a report on Tuesday, July 11th. They issued an “outperform” rating and a $182.00 price objective for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have issued a buy rating to the stock. Parker-Hannifin Corporation presently has an average rating of “Buy” and a consensus price target of $174.38.
In other news, VP Martin C. Maxwell sold 2,640 shares of the stock in a transaction that occurred on Tuesday, September 12th. The stock was sold at an average price of $165.67, for a total transaction of $437,368.80. Following the completion of the sale, the vice president now owns 31,718 shares of the company’s stock, valued at $5,254,721.06. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Candy M. Obourn sold 1,241 shares of the stock in a transaction that occurred on Friday, September 8th. The shares were 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. In the last three months, insiders have sold 5,389 shares of company stock valued at $878,913. Insiders own 2.73% of the company’s stock.
Parker-Hannifin Corporation (PH) traded down 0.46% on Friday, reaching $175.02. 659,817 shares of the company’s stock traded hands. The firm has a market cap of $23.30 billion, a PE ratio of 24.14 and a beta of 1.41. Parker-Hannifin Corporation has a 12 month low of $118.77 and a 12 month high of $177.61. The firm’s 50-day moving average is $161.62 and its 200 day moving average is $160.00.
Parker-Hannifin Corporation (NYSE:PH) last released its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates 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 return on equity of 22.90% and a net margin of 8.18%. The business’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $1.90 earnings per share. Equities analysts predict that Parker-Hannifin Corporation will post $9.08 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Monday, August 28th were paid a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date was Thursday, August 24th. Parker-Hannifin Corporation’s dividend payout ratio (DPR) is presently 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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