MAI Capital Management lowered its stake in shares of Parker-Hannifin Corp (NYSE:PH) by 1.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 6,704 shares of the industrial products company’s stock after selling 103 shares during the period. MAI Capital Management’s holdings in Parker-Hannifin were worth $1,151,000 at the end of the most recent reporting period.
A number of other large investors also recently bought and sold shares of the business. Oppenheimer Asset Management Inc. raised its stake in shares of Parker-Hannifin by 11.4% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 537 shares of the industrial products company’s stock valued at $92,000 after acquiring an additional 55 shares during the period. First Mercantile Trust Co. grew its holdings in Parker-Hannifin by 58.3% during the 4th quarter. First Mercantile Trust Co. now owns 190 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 70 shares in the last quarter. LS Investment Advisors LLC grew its holdings in Parker-Hannifin by 1.6% during the 1st quarter. LS Investment Advisors LLC now owns 4,703 shares of the industrial products company’s stock valued at $807,000 after purchasing an additional 74 shares in the last quarter. JOYN Advisors Inc. grew its holdings in Parker-Hannifin by 42.9% during the 4th quarter. JOYN Advisors Inc. now owns 250 shares of the industrial products company’s stock valued at $37,000 after purchasing an additional 75 shares in the last quarter. Finally, Belpointe Asset Management LLC grew its holdings in Parker-Hannifin by 1.1% during the 3rd quarter. Belpointe Asset Management LLC now owns 7,087 shares of the industrial products company’s stock valued at $1,304,000 after purchasing an additional 77 shares in the last quarter. 81.32% of the stock is currently owned by institutional investors.
In other news, VP Todd M. Leombruno sold 784 shares of Parker-Hannifin stock in a transaction dated Monday, February 25th. The shares were sold at an average price of $177.55, for a total value of $139,199.20. Following the completion of the transaction, the vice president now directly owns 2,913 shares of the company’s stock, valued at approximately $517,203.15. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Roger S. Sherrard sold 2,040 shares of Parker-Hannifin stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $171.80, for a total transaction of $350,472.00. Following the completion of the transaction, the vice president now directly owns 62,620 shares of the company’s stock, valued at $10,758,116. The disclosure for this sale can be found here. Insiders sold a total of 7,344 shares of company stock valued at $1,288,355 over the last ninety days. Company insiders own 1.12% of the company’s stock.
PH stock traded down $2.12 during mid-day trading on Wednesday, hitting $163.89. 516,800 shares of the company were exchanged, compared to its average volume of 911,933. The firm has a market cap of $21.27 billion, a P/E ratio of 15.73, a P/E/G ratio of 1.54 and a beta of 1.46. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.07. Parker-Hannifin Corp has a twelve month low of $140.82 and a twelve month high of $193.19.
Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $3.17 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.01 by $0.16. The company had revenue of $3.69 billion during the quarter, compared to analyst estimates of $3.72 billion. Parker-Hannifin had a net margin of 10.04% and a return on equity of 26.27%. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period last year, the business earned $2.80 EPS. On average, sell-side analysts expect that Parker-Hannifin Corp will post 11.64 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Friday, June 7th. Stockholders of record on Friday, May 10th will be issued a $0.88 dividend. The ex-dividend date of this dividend is Thursday, May 9th. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $0.76. This represents a $3.52 annualized dividend and a dividend yield of 2.15%. Parker-Hannifin’s payout ratio is 33.78%.
A number of equities research analysts recently weighed in on the stock. Zacks Investment Research raised shares of Parker-Hannifin from a “sell” rating to a “hold” rating in a report on Wednesday, January 23rd. Citigroup raised their price target on shares of Parker-Hannifin from $178.00 to $190.00 and gave the company a “neutral” rating in a report on Monday, May 6th. Stifel Nicolaus raised their price target on shares of Parker-Hannifin from $171.00 to $182.00 and gave the company a “hold” rating in a report on Tuesday, April 16th. Vertical Research lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating and set a $175.00 price target for the company. in a report on Friday, February 1st. Finally, Barclays raised their price target on shares of Parker-Hannifin from $178.00 to $186.00 and gave the company an “overweight” rating in a report on Wednesday, April 3rd. Two investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $182.35.
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Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates in two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment provides static and dynamic sealing devices; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; hydraulic, pneumatic, and electromechanical components and systems for builders and users of industrial and mobile machinery and equipment; and critical flow components for process instrumentation, healthcare, and ultra-high-purity applications, as well as components for use in refrigeration and air conditioning systems, and in fluid control applications for processing, fuel dispensing, beverage dispensing, and mobile emissions.
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