Pillar Pacific Capital Management LLC lifted its stake in Parker-Hannifin Corp (NYSE:PH) by 1.2% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,365 shares of the industrial products company’s stock after acquiring an additional 350 shares during the period. Pillar Pacific Capital Management LLC’s holdings in Parker-Hannifin were worth $4,823,000 at the end of the most recent reporting period.
Several other institutional investors also recently bought and sold shares of the company. Wells Fargo & Company MN raised its position in Parker-Hannifin by 22.6% during the second quarter. Wells Fargo & Company MN now owns 529,217 shares of the industrial products company’s stock valued at $89,972,000 after purchasing an additional 97,578 shares in the last quarter. GSA Capital Partners LLP raised its position in Parker-Hannifin by 24.7% during the second quarter. GSA Capital Partners LLP now owns 4,992 shares of the industrial products company’s stock valued at $849,000 after purchasing an additional 988 shares in the last quarter. Stone Ridge Asset Management LLC raised its position in Parker-Hannifin by 41.0% during the second quarter. Stone Ridge Asset Management LLC now owns 2,750 shares of the industrial products company’s stock valued at $468,000 after purchasing an additional 800 shares in the last quarter. Westhampton Capital LLC purchased a new stake in Parker-Hannifin during the second quarter valued at about $1,144,000. Finally, Enlightenment Research LLC purchased a new stake in Parker-Hannifin during the second quarter valued at about $525,000. 81.55% of the stock is owned by hedge funds and other institutional investors.
In other news, VP Robert W. Malone sold 336 shares of Parker-Hannifin stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $156.76, for a total value of $52,671.36. Following the transaction, the vice president now owns 24,260 shares in the company, valued at $3,802,997.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. 1.12% of the stock is currently owned by insiders.
A number of equities research analysts have weighed in on PH shares. Bank of America downgraded Parker-Hannifin from a “buy” rating to a “neutral” rating in a research report on Friday, July 12th. Morgan Stanley raised their price target on Parker-Hannifin from $173.00 to $177.00 and gave the company an “equal weight” rating in a research report on Friday, August 2nd. JPMorgan Chase & Co. downgraded Parker-Hannifin from an “overweight” rating to a “neutral” rating and lowered their price target for the company from $186.00 to $169.00 in a research report on Wednesday, July 10th. Goldman Sachs Group downgraded Parker-Hannifin from a “neutral” rating to a “sell” rating and lowered their price target for the company from $178.00 to $150.00 in a research report on Tuesday, July 16th. Finally, Stifel Nicolaus raised their price target on Parker-Hannifin from $164.00 to $176.00 and gave the company a “hold” rating in a research report on Friday, August 2nd. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have assigned a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $176.55.
Shares of PH traded down $6.42 during trading hours on Friday, hitting $158.03. The company had a trading volume of 673,666 shares, compared to its average volume of 813,534. The firm has a market cap of $21.10 billion, a P/E ratio of 13.34, a P/E/G ratio of 1.51 and a beta of 1.53. The stock’s 50 day moving average price is $167.59 and its 200 day moving average price is $170.67. The company has a quick ratio of 1.90, a current ratio of 2.43 and a debt-to-equity ratio of 1.09. Parker-Hannifin Corp has a 52-week low of $140.82 and a 52-week high of $193.19.
Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, August 1st. The industrial products company reported $3.31 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $3.09 by $0.22. The firm had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.69 billion. Parker-Hannifin had a return on equity of 26.11% and a net margin of 10.56%. The company’s quarterly revenue was down 3.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $3.22 earnings per share. On average, research analysts expect that Parker-Hannifin Corp will post 11.95 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Wednesday, August 28th will be issued a $0.88 dividend. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $3.52 annualized dividend and a dividend yield of 2.23%. Parker-Hannifin’s dividend payout ratio is currently 29.70%.
Parker-Hannifin Company Profile
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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