Parker-Hannifin Corporation (PH) Shares Bought by Nordea Investment Management AB
Nordea Investment Management AB lifted its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 13.8% in the second quarter, according to its most recent filing with the SEC. The fund owned 17,620 shares of the industrial products company’s stock after acquiring an additional 2,133 shares during the period. Nordea Investment Management AB’s holdings in Parker-Hannifin Corporation were worth $2,816,000 as of its most recent SEC filing.
A number of other large investors also recently made changes to their positions in the stock. Bronfman E.L. Rothschild L.P. grew its stake in shares of Parker-Hannifin Corporation by 1.2% in the second quarter. Bronfman E.L. Rothschild L.P. now owns 1,306 shares of the industrial products company’s stock worth $209,000 after purchasing an additional 15 shares during the last quarter. Parallel Advisors LLC grew its holdings in shares of Parker-Hannifin Corporation by 4.1% during the 2nd quarter. Parallel Advisors LLC now owns 612 shares of the industrial products company’s stock worth $102,000 after acquiring an additional 24 shares during the period. Calamos Wealth Management LLC grew its holdings in shares of Parker-Hannifin Corporation by 0.4% during the 2nd quarter. Calamos Wealth Management LLC now owns 8,144 shares of the industrial products company’s stock worth $1,302,000 after acquiring an additional 34 shares during the period. Geneva Advisors LLC raised its position in shares of Parker-Hannifin Corporation by 0.7% in the 2nd quarter. Geneva Advisors LLC now owns 5,476 shares of the industrial products company’s stock worth $875,000 after acquiring an additional 38 shares in the last quarter. Finally, Warren Averett Asset Management LLC raised its position in shares of Parker-Hannifin Corporation by 1.7% in the 2nd quarter. Warren Averett Asset Management LLC now owns 2,398 shares of the industrial products company’s stock worth $383,000 after acquiring an additional 40 shares in the last quarter. Institutional investors own 79.71% of the company’s stock.
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In related news, VP Martin C. Maxwell sold 2,640 shares of the stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $165.67, for a total value of $437,368.80. Following the transaction, the vice president now directly owns 31,718 shares of the company’s stock, valued at approximately $5,254,721.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Joseph R. Leonti sold 408 shares of the stock in a transaction on Wednesday, September 6th. The stock was sold at an average price of $160.70, for a total value of $65,565.60. Following the completion of the transaction, the vice president now directly owns 7,318 shares in the company, valued at $1,176,002.60. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 5,389 shares of company stock valued at $878,913. Corporate insiders own 1.12% of the company’s stock.
Parker-Hannifin Corporation (NYSE PH) opened at 175.02 on Monday. The stock’s 50 day moving average is $161.62 and its 200 day moving average is $160.00. Parker-Hannifin Corporation has a 12 month low of $118.77 and a 12 month high of $177.61. The firm has a market cap of $23.30 billion, a PE ratio of 24.14 and a beta of 1.42.
Parker-Hannifin Corporation (NYSE:PH) last issued its quarterly earnings results on Thursday, August 3rd. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $3.50 billion for the quarter, compared to analyst estimates of $3.52 billion. During the same period last year, the company earned $1.90 EPS. The firm’s quarterly revenue was up 18.2% on a year-over-year basis. On average, equities analysts forecast that Parker-Hannifin Corporation will post $9.08 earnings per share 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 is currently 36.51%.
PH has been the topic of several research reports. Morgan Stanley lowered shares of Parker-Hannifin Corporation from an “overweight” rating to an “equal weight” rating and set a $188.00 price objective on the stock. in a research note on Monday. KeyCorp reissued an “overweight” rating and issued a $185.00 target price on shares of Parker-Hannifin Corporation in a report on Saturday, September 16th. Stifel Nicolaus set a $198.00 target price on Parker-Hannifin Corporation and gave the stock a “buy” rating in a research report on Friday, August 4th. BidaskClub cut shares of Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Finally, Jefferies Group LLC reiterated a “hold” rating and set a $163.00 target price on shares of Parker-Hannifin Corporation in a research note on Thursday, August 3rd. One analyst has rated the stock with a sell rating, six have given a hold rating and fifteen have assigned a buy rating to the company. The stock has an average rating of “Buy” and a consensus price target of $174.88.
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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