Intellectus Partners LLC acquired a new position in Parker-Hannifin Co. (NYSE:PH) during the second quarter, according to its most recent filing with the SEC. The firm acquired 2,231 shares of the industrial products company’s stock, valued at approximately $685,000.
Several other hedge funds have also modified their holdings of PH. FMR LLC grew its position in shares of Parker-Hannifin by 16.1% in the 1st quarter. FMR LLC now owns 310,712 shares of the industrial products company’s stock worth $53,324,000 after buying an additional 43,094 shares during the last quarter. Principal Financial Group Inc. grew its position in shares of Parker-Hannifin by 1.8% in the 1st quarter. Principal Financial Group Inc. now owns 1,300,899 shares of the industrial products company’s stock worth $410,343,000 after buying an additional 22,854 shares during the last quarter. CIBC Private Wealth Group LLC grew its position in shares of Parker-Hannifin by 15.8% in the 1st quarter. CIBC Private Wealth Group LLC now owns 5,485 shares of the industrial products company’s stock worth $1,730,000 after buying an additional 747 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its position in shares of Parker-Hannifin by 0.3% in the 1st quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 16,144 shares of the industrial products company’s stock worth $5,092,000 after buying an additional 50 shares during the last quarter. Finally, Ensign Peak Advisors Inc boosted its position in shares of Parker-Hannifin by 22.3% during the first quarter. Ensign Peak Advisors Inc now owns 12,330 shares of the industrial products company’s stock valued at $3,890,000 after purchasing an additional 2,248 shares in the last quarter. Hedge funds and other institutional investors own 79.08% of the company’s stock.
Several equities research analysts recently weighed in on the company. Melius upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Tuesday. Stifel Nicolaus restated a “buy” rating and set a $364.00 price target on shares of Parker-Hannifin in a research report on Friday, July 2nd. BMO Capital Markets lifted their price target on Parker-Hannifin from $365.00 to $375.00 and gave the company an “outperform” rating in a research report on Thursday, August 26th. Wells Fargo & Company assumed coverage on Parker-Hannifin in a research report on Thursday, October 7th. They set an “overweight” rating and a $337.00 price target on the stock. Finally, JPMorgan Chase & Co. started coverage on Parker-Hannifin in a research report on Friday, September 10th. They set a “neutral” rating and a $300.00 price target on the stock. Three analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $343.40.
Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, August 5th. The industrial products company reported $4.38 EPS for the quarter, beating analysts’ consensus estimates of $4.32 by $0.06. The company had revenue of $3.96 billion during the quarter, compared to analysts’ expectations of $3.93 billion. Parker-Hannifin had a return on equity of 26.68% and a net margin of 12.16%. Parker-Hannifin’s revenue for the quarter was up 25.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $2.55 earnings per share. Equities research analysts predict that Parker-Hannifin Co. will post 17 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 10th. Investors of record on Friday, August 27th were given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 1.41%. The ex-dividend date was Thursday, August 26th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 27.39%.
Parker-Hannifin Company Profile
Parker-Hannifin Corp. engages in the manufacture of motion and control technologies and systems. It operates through Diversified Industrial and Aerospace segments. The Diversified Industrial segment sells products to both original equipment manufacturers and distributors who serve the replacement markets in manufacturing, packaging, processing, transportation, mobile construction, refrigeration and air conditioning, agricultural and military machinery, and equipment industries.
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