Parker-Hannifin Corp (PH) Holdings Reduced by Decatur Capital Management Inc.
Decatur Capital Management Inc. trimmed its position in shares of Parker-Hannifin Corp (NYSE:PH) by 13.7% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 54,318 shares of the industrial products company’s stock after selling 8,608 shares during the quarter. Parker-Hannifin accounts for 2.2% of Decatur Capital Management Inc.’s investment portfolio, making the stock its 15th largest holding. Decatur Capital Management Inc.’s holdings in Parker-Hannifin were worth $10,841,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Jennison Associates LLC boosted its stake in Parker-Hannifin by 10.2% during the fourth quarter. Jennison Associates LLC now owns 5,650,607 shares of the industrial products company’s stock worth $1,127,748,000 after buying an additional 522,942 shares during the period. Longview Partners Guernsey LTD boosted its stake in Parker-Hannifin by 5.4% during the third quarter. Longview Partners Guernsey LTD now owns 5,413,458 shares of the industrial products company’s stock worth $947,463,000 after buying an additional 278,500 shares during the period. Victory Capital Management Inc. lifted its position in shares of Parker-Hannifin by 3.0% during the fourth quarter. Victory Capital Management Inc. now owns 941,019 shares of the industrial products company’s stock worth $187,809,000 after purchasing an additional 26,975 shares during the last quarter. Legal & General Group Plc lifted its position in shares of Parker-Hannifin by 1.3% during the third quarter. Legal & General Group Plc now owns 702,748 shares of the industrial products company’s stock worth $122,998,000 after purchasing an additional 8,914 shares during the last quarter. Finally, Boston Partners bought a new stake in shares of Parker-Hannifin during the fourth quarter worth $129,208,000. 78.39% of the stock is owned by institutional investors.
In other Parker-Hannifin news, VP Andrew D. Ross sold 2,056 shares of Parker-Hannifin stock in a transaction dated Friday, December 8th. The stock was sold at an average price of $192.14, for a total value of $395,039.84. Following the transaction, the vice president now owns 5,207 shares in the company, valued at $1,000,472.98. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Robert W. Bond sold 5,517 shares of Parker-Hannifin stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $181.72, for a total value of $1,002,549.24. Following the completion of the transaction, the vice president now owns 28,265 shares in the company, valued at approximately $5,136,315.80. The disclosure for this sale can be found here. Insiders sold 16,343 shares of company stock valued at $2,982,800 over the last 90 days. 1.12% of the stock is currently owned by corporate insiders.
Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.15 earnings per share for the quarter, beating the consensus estimate of $2.07 by $0.08. The firm had revenue of $3.37 billion during the quarter, compared to the consensus estimate of $3.33 billion. Parker-Hannifin had a return on equity of 23.15% and a net margin of 6.54%. The firm’s quarterly revenue was up 26.2% on a year-over-year basis. During the same period in the previous year, the company posted $1.91 earnings per share. research analysts anticipate that Parker-Hannifin Corp will post 9.95 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 2nd. Investors of record on Friday, February 9th will be issued a $0.66 dividend. The ex-dividend date is Thursday, February 8th. This represents a $2.64 annualized dividend and a dividend yield of 1.51%. Parker-Hannifin’s payout ratio is currently 41.06%.
Several research firms have recently weighed in on PH. Zacks Investment Research downgraded Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. Citigroup lifted their target price on Parker-Hannifin from $195.00 to $220.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 30th. Cowen reiterated a “hold” rating and set a $155.00 target price on shares of Parker-Hannifin in a research report on Sunday, October 29th. Buckingham Research reiterated a “neutral” rating and set a $210.00 target price on shares of Parker-Hannifin in a research report on Friday, January 19th. They noted that the move was a valuation call. Finally, Robert W. Baird lifted their target price on Parker-Hannifin from $183.00 to $194.00 and gave the stock a “neutral” rating in a research report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the company. Parker-Hannifin presently has a consensus rating of “Hold” and an average price target of $200.83.
COPYRIGHT VIOLATION NOTICE: This report was published by The Cerbat Gem and is the sole property of of The Cerbat Gem. If you are viewing this report on another website, it was copied illegally and reposted in violation of US and international trademark & copyright legislation. The original version of this report can be viewed at https://www.thecerbatgem.com/2018/02/09/parker-hannifin-corp-ph-holdings-reduced-by-decatur-capital-management-inc.html.
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.
Want to see what other hedge funds are holding PH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Parker-Hannifin Corp (NYSE:PH).
Receive News & Ratings for Parker-Hannifin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parker-Hannifin and related companies with MarketBeat.com's FREE daily email newsletter.