Oak Associates Ltd. OH Decreases Holdings in Parker-Hannifin Corporation (PH)
Oak Associates Ltd. OH decreased its position in Parker-Hannifin Corporation (NYSE:PH) by 30.6% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 23,665 shares of the industrial products company’s stock after selling 10,440 shares during the quarter. Oak Associates Ltd. OH’s holdings in Parker-Hannifin Corporation were worth $4,142,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Parker-Hannifin Corporation by 1.0% in the second quarter. Vanguard Group Inc. now owns 8,746,514 shares of the industrial products company’s stock worth $1,397,867,000 after purchasing an additional 90,732 shares in the last quarter. BlackRock Inc. raised its holdings in Parker-Hannifin Corporation by 3.6% in the second quarter. BlackRock Inc. now owns 8,464,358 shares of the industrial products company’s stock worth $1,352,775,000 after purchasing an additional 298,047 shares in the last quarter. Jennison Associates LLC raised its holdings in Parker-Hannifin Corporation by 28.5% in the second quarter. Jennison Associates LLC now owns 6,026,440 shares of the industrial products company’s stock worth $963,146,000 after purchasing an additional 1,336,541 shares in the last quarter. Longview Partners Guernsey LTD raised its holdings in Parker-Hannifin Corporation by 5.4% in the third quarter. Longview Partners Guernsey LTD now owns 5,413,458 shares of the industrial products company’s stock worth $947,463,000 after purchasing an additional 278,500 shares in the last quarter. Finally, TIAA CREF Investment Management LLC raised its holdings in Parker-Hannifin Corporation by 10.2% in the second quarter. TIAA CREF Investment Management LLC now owns 2,104,347 shares of the industrial products company’s stock worth $336,317,000 after purchasing an additional 194,858 shares in the last quarter. Institutional investors and hedge funds own 77.73% of the company’s stock.
Parker-Hannifin Corporation (NYSE PH) traded down $0.56 during midday trading on Wednesday, hitting $179.11. The stock had a trading volume of 579,840 shares, compared to its average volume of 1,015,584. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.44 and a quick ratio of 0.95. Parker-Hannifin Corporation has a 1 year low of $134.03 and a 1 year high of $189.83. The company has a market capitalization of $24,153.89, a P/E ratio of 20.82, a P/E/G ratio of 1.63 and a beta of 1.40.
Parker-Hannifin Corporation (NYSE:PH) last posted its quarterly earnings data on Thursday, November 2nd. The industrial products company reported $2.24 EPS for the quarter, topping the consensus estimate of $2.02 by $0.22. Parker-Hannifin Corporation had a return on equity of 23.61% and a net margin of 8.37%. The firm had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $3.31 billion. During the same quarter last year, the company earned $1.61 earnings per share. The business’s revenue for the quarter was up 22.7% compared to the same quarter last year. analysts forecast that Parker-Hannifin Corporation will post 9.55 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 1st. Stockholders of record on Friday, November 10th will be paid a $0.66 dividend. This represents a $2.64 annualized dividend and a dividend yield of 1.47%. The ex-dividend date of this dividend is Thursday, November 9th. Parker-Hannifin Corporation’s dividend payout ratio (DPR) is currently 33.93%.
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A number of research firms have recently commented on PH. Cowen and Company reissued a “hold” rating and issued a $140.00 target price on shares of Parker-Hannifin Corporation in a research note on Friday, October 6th. Zacks Investment Research raised Parker-Hannifin Corporation from a “hold” rating to a “buy” rating and set a $208.00 target price on the stock in a research note on Tuesday, November 7th. Robert W. Baird increased their target price on Parker-Hannifin Corporation from $183.00 to $194.00 and gave the stock a “neutral” rating in a research note on Friday, November 3rd. BMO Capital Markets increased their target price on Parker-Hannifin Corporation from $200.00 to $205.00 and gave the stock an “outperform” rating in a research note on Monday, November 6th. Finally, BidaskClub cut Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. One analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus price target of $188.37.
In related news, VP Joseph R. Leonti sold 408 shares of Parker-Hannifin Corporation stock in a transaction that occurred on Wednesday, September 6th. The stock was sold at an average price of $160.70, for a total transaction of $65,565.60. Following the sale, the vice president now owns 7,318 shares of the company’s stock, valued at approximately $1,176,002.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph Scaminace sold 500 shares of Parker-Hannifin Corporation stock in a transaction that occurred on Monday, August 28th. The shares were sold at an average price of $158.35, for a total value of $79,175.00. The disclosure for this sale can be found here. Insiders sold 11,541 shares of company stock worth $2,024,054 in the last ninety days. Corporate insiders own 1.12% of the company’s stock.
Parker-Hannifin Corporation Profile
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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