Brown Advisory Inc. Has $2,843,000 Stake in Parker-Hannifin Corp. (PH)
Brown Advisory Inc. boosted its position in Parker-Hannifin Corp. (NYSE:PH) by 0.1% during the second quarter, Holdings Channel reports. The fund owned 26,316 shares of the company’s stock after buying an additional 20 shares during the period. Brown Advisory Inc.’s holdings in Parker-Hannifin Corp. were worth $2,843,000 at the end of the most recent reporting period.
Several other hedge funds have also recently modified their holdings of the company. Beutel Goodman & Co Ltd. purchased a new stake in shares of Parker-Hannifin Corp. during the second quarter worth $103,826,000. Norges Bank bought a new position in Parker-Hannifin Corp. during the fourth quarter valued at approximately $82,890,000. Bank of Montreal Can bought a new position in Parker-Hannifin Corp. during the second quarter valued at approximately $91,657,000. Anchor Bolt Capital LP bought a new position in Parker-Hannifin Corp. during the first quarter valued at approximately $88,431,000. Finally, TIAA CREF Investment Management LLC boosted its position in Parker-Hannifin Corp. by 77.4% in the first quarter. TIAA CREF Investment Management LLC now owns 1,070,886 shares of the company’s stock valued at $118,954,000 after buying an additional 467,089 shares during the last quarter. Institutional investors and hedge funds own 80.67% of the company’s stock.
Shares of Parker-Hannifin Corp. (NYSE:PH) traded up 0.78% during midday trading on Thursday, reaching $124.41. 84,207 shares of the company’s stock were exchanged. Parker-Hannifin Corp. has a 12 month low of $83.32 and a 12 month high of $125.00. The company’s 50 day moving average is $122.62 and its 200-day moving average is $114.50. The stock has a market cap of $16.66 billion, a PE ratio of 21.12 and a beta of 1.53.
Parker-Hannifin Corp. (NYSE:PH) last posted its earnings results on Thursday, August 4th. The company reported $1.90 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.75 by $0.15. Parker-Hannifin Corp. had a return on equity of 18.37% and a net margin of 7.10%. The company earned $2.96 billion during the quarter, compared to the consensus estimate of $2.93 billion. During the same quarter last year, the firm earned $1.73 earnings per share. The company’s revenue was down 6.0% on a year-over-year basis. Equities analysts forecast that Parker-Hannifin Corp. will post $6.80 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Monday, August 29th were issued a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.04%. The ex-dividend date was Thursday, August 25th. Parker-Hannifin Corp.’s dividend payout ratio is currently 42.86%.
Several research firms recently commented on PH. Barclays PLC upped their target price on shares of Parker-Hannifin Corp. from $120.00 to $121.00 and gave the company an “equal weight” rating in a research note on Friday, August 5th. Jefferies Group upped their target price on shares of Parker-Hannifin Corp. from $100.00 to $110.00 and gave the company a “hold” rating in a research note on Friday, August 5th. Citigroup Inc. upped their target price on shares of Parker-Hannifin Corp. from $115.00 to $120.00 and gave the company a “neutral” rating in a research note on Friday, August 5th. KeyCorp reiterated a “buy” rating and set a $136.00 target price on shares of Parker-Hannifin Corp. in a research note on Thursday, September 8th. Finally, Morgan Stanley set a $108.00 target price on shares of Parker-Hannifin Corp. and gave the company a “hold” rating in a research note on Friday, August 5th. Three analysts have rated the stock with a sell rating, twelve have issued a hold rating and five have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $113.75.
In related news, VP Robert W. Bond sold 14,043 shares of the business’s stock in a transaction dated Thursday, September 8th. The stock was sold at an average price of $124.51, for a total value of $1,748,493.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Lee C. Banks sold 10,953 shares of the business’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $124.28, for a total value of $1,361,238.84. Following the completion of the transaction, the chief operating officer now directly owns 99,977 shares of the company’s stock, valued at approximately $12,425,141.56. The disclosure for this sale can be found here. Insiders own 2.53% of the company’s stock.
About Parker-Hannifin Corp.
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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