Amalgamated Bank Has $2.52 Million Stake in Parker-Hannifin Corp (PH)
Amalgamated Bank reduced its stake in Parker-Hannifin Corp (NYSE:PH) by 2.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,904 shares of the industrial products company’s stock after selling 394 shares during the period. Amalgamated Bank’s holdings in Parker-Hannifin were worth $2,521,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds also recently added to or reduced their stakes in the company. Public Employees Retirement System of Ohio grew its stake in shares of Parker-Hannifin by 2.5% in the 4th quarter. Public Employees Retirement System of Ohio now owns 63,184 shares of the industrial products company’s stock valued at $9,423,000 after purchasing an additional 1,547 shares during the period. grace capital grew its stake in shares of Parker-Hannifin by 31.9% in the 4th quarter. grace capital now owns 3,968 shares of the industrial products company’s stock valued at $592,000 after purchasing an additional 960 shares during the period. National Pension Service grew its stake in shares of Parker-Hannifin by 5.5% in the 4th quarter. National Pension Service now owns 161,533 shares of the industrial products company’s stock valued at $27,310,000 after purchasing an additional 8,433 shares during the period. Hancock Whitney Corp grew its position in Parker-Hannifin by 5.7% during the 4th quarter. Hancock Whitney Corp now owns 3,186 shares of the industrial products company’s stock worth $476,000 after acquiring an additional 172 shares during the last quarter. Finally, Legal & General Group Plc grew its position in Parker-Hannifin by 6.3% during the 4th quarter. Legal & General Group Plc now owns 653,420 shares of the industrial products company’s stock worth $97,451,000 after acquiring an additional 38,840 shares during the last quarter. Institutional investors own 81.35% of the company’s stock.
PH stock opened at $169.56 on Friday. The company has a debt-to-equity ratio of 0.74, a quick ratio of 1.01 and a current ratio of 1.52. The firm has a market capitalization of $21.55 billion, a PE ratio of 16.27, a P/E/G ratio of 1.55 and a beta of 1.47. Parker-Hannifin Corp has a twelve month low of $140.82 and a twelve month high of $193.19.
The business also recently declared a quarterly dividend, which was paid on Friday, March 1st. Stockholders of record on Friday, February 8th were paid a $0.76 dividend. This represents a $3.04 dividend on an annualized basis and a dividend yield of 1.79%. The ex-dividend date was Thursday, February 7th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 29.17%.
In other news, VP Roger S. Sherrard sold 2,040 shares of the stock in a transaction on Thursday, March 14th. The stock was sold at an average price of $171.80, for a total value of $350,472.00. Following the transaction, the vice president now owns 62,620 shares of the company’s stock, valued at approximately $10,758,116. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Andrew M. Weeks sold 4,520 shares of the stock in a transaction on Thursday, February 28th. The shares were sold at an average price of $176.70, for a total value of $798,684.00. The disclosure for this sale can be found here. In the last three months, insiders sold 10,445 shares of company stock worth $1,814,218. 1.12% of the stock is currently owned by company insiders.
A number of research firms recently commented on PH. Barclays decreased their price target on Parker-Hannifin from $186.00 to $180.00 and set an “overweight” rating on the stock in a research report on Monday, December 17th. Vertical Research lowered Parker-Hannifin from a “buy” rating to a “hold” rating and set a $175.00 price target on the stock. in a research report on Friday, February 1st. Zacks Investment Research upgraded Parker-Hannifin from a “sell” rating to a “hold” rating in a research report on Wednesday, January 23rd. Morgan Stanley set a $172.00 price objective on Parker-Hannifin and gave the stock a “hold” rating in a report on Saturday, February 2nd. Finally, Robert W. Baird set a $170.00 price objective on Parker-Hannifin and gave the stock a “buy” rating in a report on Friday, January 25th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $181.63.
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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