Raymond James Financial Services Advisors Inc. Has $3.03 Million Position in Parker-Hannifin Corporation (PH)
Raymond James Financial Services Advisors Inc. increased its holdings in Parker-Hannifin Corporation (NYSE:PH) by 11.6% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 17,281 shares of the industrial products company’s stock after buying an additional 1,796 shares during the period. Raymond James Financial Services Advisors Inc.’s holdings in Parker-Hannifin Corporation were worth $3,025,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. First Citizens Bank & Trust Co. bought a new position in Parker-Hannifin Corporation in the 2nd quarter valued at $377,000. Campbell & CO Investment Adviser LLC bought a new position in Parker-Hannifin Corporation in the 2nd quarter valued at $482,000. Moody Lynn & Lieberson LLC boosted its holdings in Parker-Hannifin Corporation by 61.1% in the 2nd quarter. Moody Lynn & Lieberson LLC now owns 4,901 shares of the industrial products company’s stock valued at $783,000 after purchasing an additional 1,858 shares during the period. FineMark National Bank & Trust bought a new position in Parker-Hannifin Corporation in the 2nd quarter valued at $742,000. Finally, Longview Partners Guernsey LTD boosted its holdings in Parker-Hannifin Corporation by 7.6% in the 2nd quarter. Longview Partners Guernsey LTD now owns 5,134,958 shares of the industrial products company’s stock valued at $820,669,000 after purchasing an additional 362,076 shares during the period. 78.35% of the stock is owned by institutional investors.
Several research analysts have commented on PH shares. Zacks Investment Research raised shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating and set a $198.00 price target for the company in a report on Tuesday, October 10th. Stifel Nicolaus set a $198.00 price target on shares of Parker-Hannifin Corporation and gave the company a “buy” rating in a report on Friday, August 4th. ValuEngine upgraded shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. KeyCorp restated a “buy” rating and set a $200.00 price objective on shares of Parker-Hannifin Corporation in a research report on Thursday, October 12th. Finally, Buckingham Research initiated coverage on shares of Parker-Hannifin Corporation in a research report on Tuesday, October 17th. They set a “buy” rating and a $205.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have given a buy rating to the company. Parker-Hannifin Corporation has an average rating of “Buy” and an average price target of $188.95.
In related news, COO Lee C. Banks sold 5,286 shares of Parker-Hannifin Corporation stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $186.38, for a total value of $985,204.68. Following the transaction, the chief operating officer now owns 112,808 shares in the company, valued at approximately $21,025,155.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Joseph Scaminace sold 500 shares of Parker-Hannifin Corporation stock in a transaction on Monday, August 28th. The stock was sold at an average price of $158.35, for a total transaction of $79,175.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 25,828 shares of company stock worth $4,611,814. 1.12% of the stock is owned by corporate insiders.
Parker-Hannifin Corporation (PH) traded down $1.33 during trading on Friday, hitting $183.28. 211,764 shares of the stock traded hands, compared to its average volume of 680,805. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.95 and a current ratio of 1.44. The stock has a market cap of $24,594.87, a PE ratio of 21.19, a P/E/G ratio of 1.66 and a beta of 1.40. Parker-Hannifin Corporation has a 12-month low of $134.03 and a 12-month high of $189.83.
Parker-Hannifin Corporation (NYSE:PH) last issued its earnings results on Thursday, November 2nd. The industrial products company reported $2.24 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.22. The company had revenue of $3.36 billion for the quarter, compared to analysts’ expectations of $3.31 billion. Parker-Hannifin Corporation had a net margin of 8.37% and a return on equity of 23.61%. The firm’s revenue was up 22.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.61 EPS. equities research analysts forecast that Parker-Hannifin Corporation will post 9.57 EPS for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 10th will be given a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date of this dividend is Thursday, November 9th. Parker-Hannifin Corporation’s payout ratio is presently 33.93%.
About Parker-Hannifin Corporation
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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