D.A. Davidson & CO. lowered its position in Parker-Hannifin Co. (NYSE:PH – Free Report) by 5.1% in the third quarter, Holdings Channel.com reports. The firm owned 3,335 shares of the industrial products company’s stock after selling 179 shares during the quarter. D.A. Davidson & CO.’s holdings in Parker-Hannifin were worth $2,108,000 as of its most recent filing with the Securities & Exchange Commission.
A number of other institutional investors also recently added to or reduced their stakes in the business. Wilkinson Global Asset Management LLC increased its holdings in shares of Parker-Hannifin by 59.1% in the 3rd quarter. Wilkinson Global Asset Management LLC now owns 39,093 shares of the industrial products company’s stock valued at $24,700,000 after purchasing an additional 14,526 shares in the last quarter. Banco Santander S.A. increased its holdings in Parker-Hannifin by 11.9% in the third quarter. Banco Santander S.A. now owns 14,478 shares of the industrial products company’s stock valued at $9,147,000 after buying an additional 1,544 shares in the last quarter. Ritholtz Wealth Management lifted its position in shares of Parker-Hannifin by 88.4% during the 3rd quarter. Ritholtz Wealth Management now owns 1,473 shares of the industrial products company’s stock valued at $931,000 after acquiring an additional 691 shares during the period. Cetera Investment Advisers boosted its stake in shares of Parker-Hannifin by 98.6% during the 1st quarter. Cetera Investment Advisers now owns 45,124 shares of the industrial products company’s stock worth $25,079,000 after acquiring an additional 22,407 shares in the last quarter. Finally, Deltec Asset Management LLC acquired a new stake in shares of Parker-Hannifin in the 2nd quarter worth approximately $506,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.
Wall Street Analysts Forecast Growth
PH has been the topic of a number of research analyst reports. KeyCorp boosted their target price on Parker-Hannifin from $725.00 to $775.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a research note on Friday, August 9th. UBS Group began coverage on shares of Parker-Hannifin in a research report on Wednesday, November 13th. They set a “buy” rating and a $842.00 target price for the company. StockNews.com upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, October 12th. Finally, TD Cowen lifted their price objective on Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $691.40.
Parker-Hannifin Stock Performance
NYSE PH opened at $702.93 on Friday. The business’s 50-day moving average price is $656.37 and its 200 day moving average price is $585.44. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. Parker-Hannifin Co. has a twelve month low of $426.78 and a twelve month high of $712.42. The company has a market capitalization of $90.48 billion, a PE ratio of 31.75, a price-to-earnings-growth ratio of 2.82 and a beta of 1.43.
Parker-Hannifin (NYSE:PH – Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, topping the consensus estimate of $6.14 by $0.06. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The business had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same period in the prior year, the firm posted $5.96 EPS. The company’s revenue was up 1.2% on a year-over-year basis. On average, research analysts predict that Parker-Hannifin Co. will post 26.77 earnings per share for the current year.
Parker-Hannifin Dividend Announcement
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.93%. Parker-Hannifin’s payout ratio is 29.45%.
Insider Buying and Selling
In related news, VP Joseph R. Leonti sold 5,877 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $631.04, for a total value of $3,708,622.08. Following the transaction, the vice president now owns 15,350 shares in the company, valued at approximately $9,686,464. This trade represents a 27.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Thomas C. Gentile sold 2,430 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the sale, the vice president now owns 5,465 shares of the company’s stock, valued at approximately $3,831,839.40. This represents a 30.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,077 shares of company stock valued at $12,303,829. 0.39% of the stock is currently owned by company insiders.
About Parker-Hannifin
Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.
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