Parker-Hannifin Corporation (PH) Stake Lessened by California Public Employees Retirement System
California Public Employees Retirement System decreased its holdings in Parker-Hannifin Corporation (NYSE:PH) by 0.6% in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 344,224 shares of the industrial products company’s stock after selling 2,100 shares during the quarter. California Public Employees Retirement System owned 0.26% of Parker-Hannifin Corporation worth $55,014,000 as of its most recent filing with the SEC.
Other large investors have also added to or reduced their stakes in the company. Tredje AP fonden grew its stake in shares of Parker-Hannifin Corporation by 146.9% in the second quarter. Tredje AP fonden now owns 13,578 shares of the industrial products company’s stock worth $2,170,000 after purchasing an additional 8,078 shares in the last quarter. Two Sigma Securities LLC bought a new position in shares of Parker-Hannifin Corporation in the first quarter worth $785,000. Stifel Financial Corp grew its stake in shares of Parker-Hannifin Corporation by 2.8% in the first quarter. Stifel Financial Corp now owns 353,400 shares of the industrial products company’s stock worth $56,657,000 after purchasing an additional 9,777 shares in the last quarter. Bank of Nova Scotia grew its stake in shares of Parker-Hannifin Corporation by 943.9% in the first quarter. Bank of Nova Scotia now owns 30,535 shares of the industrial products company’s stock worth $4,896,000 after purchasing an additional 27,610 shares in the last quarter. Finally, Boston Common Asset Management LLC grew its stake in shares of Parker-Hannifin Corporation by 4.7% in the first quarter. Boston Common Asset Management LLC now owns 3,255 shares of the industrial products company’s stock worth $522,000 after purchasing an additional 145 shares in the last quarter. 79.72% of the stock is owned by institutional investors.
In related news, VP Joseph R. Leonti sold 408 shares of Parker-Hannifin Corporation stock in a transaction 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 completion of the sale, the vice president now directly owns 7,318 shares of the company’s stock, valued at $1,176,002.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP Martin C. Maxwell sold 2,640 shares of Parker-Hannifin Corporation stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $165.67, for a total value of $437,368.80. Following the sale, the vice president now directly owns 31,718 shares of the company’s stock, valued at $5,254,721.06. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,389 shares of company stock valued at $878,913. 2.73% of the stock is owned by insiders.
Several research firms have recently issued reports on PH. BidaskClub cut Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Stifel Nicolaus reissued a “buy” rating and issued a $189.00 price target on shares of Parker-Hannifin Corporation in a research note on Friday, July 14th. ValuEngine raised Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research note on Wednesday, June 14th. Credit Suisse Group set a $189.00 price target on Parker-Hannifin Corporation and gave the stock a “buy” rating in a research note on Sunday, May 28th. Finally, Jefferies Group LLC set a $163.00 price target on Parker-Hannifin Corporation and gave the stock a “hold” rating in a research note on Wednesday, June 28th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have assigned a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $174.38.
Parker-Hannifin Corporation (NYSE:PH) opened at 177.11 on Friday. The company has a 50 day moving average price of $161.62 and a 200-day moving average price of $160.00. Parker-Hannifin Corporation has a 52-week low of $118.77 and a 52-week high of $177.61. The firm has a market cap of $23.58 billion, a price-to-earnings ratio of 24.43 and a beta of 1.41.
Parker-Hannifin Corporation (NYSE:PH) last announced its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $2.45 EPS for the quarter, topping analysts’ consensus estimates of $2.31 by $0.14. Parker-Hannifin Corporation had a return on equity of 22.90% and a net margin of 8.18%. The business had revenue of $3.50 billion during the quarter, compared to analysts’ expectations of $3.52 billion. During the same period in the previous year, the firm earned $1.90 earnings per share. The firm’s quarterly revenue was up 18.2% compared to the same quarter last year. Equities research analysts anticipate that Parker-Hannifin Corporation will post $9.08 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Monday, August 28th were paid a dividend of $0.66 per share. The ex-dividend date was Thursday, August 24th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.49%. Parker-Hannifin Corporation’s dividend payout ratio (DPR) is presently 36.51%.
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Parker-Hannifin Corporation Company 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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