Kore Private Wealth LLC Boosts Stake in Parker-Hannifin Co. (NYSE:PH)

Kore Private Wealth LLC increased its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 3.2% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,327 shares of the industrial products company’s stock after purchasing an additional 41 shares during the period. Kore Private Wealth LLC’s holdings in Parker-Hannifin were worth $408,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Geode Capital Management LLC boosted its position in Parker-Hannifin by 2.3% in the 2nd quarter. Geode Capital Management LLC now owns 2,260,138 shares of the industrial products company’s stock valued at $692,171,000 after buying an additional 50,142 shares during the period. IFM Investors Pty Ltd boosted its position in Parker-Hannifin by 19.7% in the 2nd quarter. IFM Investors Pty Ltd now owns 17,017 shares of the industrial products company’s stock valued at $5,226,000 after buying an additional 2,800 shares during the period. Commerce Bank boosted its position in Parker-Hannifin by 15.8% in the 2nd quarter. Commerce Bank now owns 105,749 shares of the industrial products company’s stock valued at $32,476,000 after buying an additional 14,432 shares during the period. Rothschild & Co. Asset Management US Inc. boosted its position in Parker-Hannifin by 2.9% in the 1st quarter. Rothschild & Co. Asset Management US Inc. now owns 385,214 shares of the industrial products company’s stock valued at $121,507,000 after buying an additional 10,961 shares during the period. Finally, Convergence Investment Partners LLC boosted its position in Parker-Hannifin by 14.8% in the 2nd quarter. Convergence Investment Partners LLC now owns 1,024 shares of the industrial products company’s stock valued at $314,000 after buying an additional 132 shares during the period. 79.08% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:PH opened at $285.82 on Thursday. The company has a debt-to-equity ratio of 0.78, a current ratio of 1.81 and a quick ratio of 1.14. The firm has a market capitalization of $36.74 billion, a P/E ratio of 21.47, a P/E/G ratio of 1.86 and a beta of 1.77. Parker-Hannifin Co. has a 12 month low of $200.03 and a 12 month high of $324.68. The company’s fifty day moving average price is $291.70 and its 200 day moving average price is $302.91.

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 for the quarter, compared to analyst estimates of $3.93 billion. Parker-Hannifin had a net margin of 12.16% and a return on equity of 26.68%. Parker-Hannifin’s quarterly revenue was up 25.3% on a year-over-year basis. During the same period in the previous year, the business posted $2.55 earnings per share. On average, sell-side analysts anticipate that Parker-Hannifin Co. will post 17 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 10th. Shareholders of record on Friday, August 27th were paid a $1.03 dividend. The ex-dividend date was Thursday, August 26th. This represents a $4.12 dividend on an annualized basis and a yield of 1.44%. Parker-Hannifin’s dividend payout ratio is presently 27.39%.

PH has been the subject of several recent analyst reports. Melius raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Tuesday. BMO Capital Markets lifted their price objective on shares of Parker-Hannifin from $365.00 to $375.00 and gave the stock an “outperform” rating in a research report on Thursday, August 26th. Stifel Nicolaus reaffirmed a “buy” rating and set a $364.00 price objective on shares of Parker-Hannifin in a research report on Friday, July 2nd. Wells Fargo & Company initiated coverage on shares of Parker-Hannifin in a research report on Thursday, October 7th. They set an “overweight” rating and a $337.00 price objective for the company. Finally, JPMorgan Chase & Co. initiated coverage on shares of Parker-Hannifin in a research report on Friday, September 10th. They set a “neutral” rating and a $300.00 price objective for the company. Three research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat, Parker-Hannifin has a consensus rating of “Buy” and an average target price of $343.40.

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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Institutional Ownership by Quarter for Parker-Hannifin (NYSE:PH)

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