Royce & Associates LP Reduces Position in Parker-Hannifin Corp (PH)
Royce & Associates LP decreased its holdings in Parker-Hannifin Corp (NYSE:PH) by 2.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 43,000 shares of the industrial products company’s stock after selling 1,000 shares during the quarter. Royce & Associates LP’s holdings in Parker-Hannifin were worth $7,526,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also bought and sold shares of PH. IHT Wealth Management LLC raised its stake in Parker-Hannifin by 20.8% during the 2nd quarter. IHT Wealth Management LLC now owns 116 shares of the industrial products company’s stock worth $119,000 after acquiring an additional 20 shares during the period. Parallel Advisors LLC raised its stake in Parker-Hannifin by 4.1% during the 2nd quarter. Parallel Advisors LLC now owns 612 shares of the industrial products company’s stock worth $102,000 after acquiring an additional 24 shares during the period. Israel Discount Bank of New York raised its stake in Parker-Hannifin by 31.6% during the 2nd quarter. Israel Discount Bank of New York now owns 625 shares of the industrial products company’s stock worth $100,000 after acquiring an additional 150 shares during the period. BT Investment Management Ltd bought a new stake in Parker-Hannifin during the 2nd quarter worth approximately $124,000. Finally, Sun Life Financial INC raised its stake in Parker-Hannifin by 8,108.3% during the 2nd quarter. Sun Life Financial INC now owns 985 shares of the industrial products company’s stock worth $157,000 after acquiring an additional 973 shares during the period. 78.24% of the stock is currently owned by institutional investors.
Parker-Hannifin Corp (PH) opened at $194.26 on Friday. Parker-Hannifin Corp has a fifty-two week low of $139.49 and a fifty-two week high of $195.82. The company has a debt-to-equity ratio of 0.87, a current ratio of 1.44 and a quick ratio of 0.95. The firm has a market cap of $25,539.44, a price-to-earnings ratio of 22.01, a P/E/G ratio of 1.72 and a beta of 1.40.
Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, November 2nd. The industrial products company reported $2.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.22. Parker-Hannifin had a net margin of 8.37% and a return on equity of 23.61%. The firm had revenue of $3.36 billion during the quarter, compared to analyst estimates of $3.31 billion. During the same period last year, the firm posted $1.61 earnings per share. Parker-Hannifin’s revenue for the quarter was up 22.7% compared to the same quarter last year. research analysts predict that Parker-Hannifin Corp will post 9.56 EPS for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 10th were issued a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.36%. The ex-dividend date was Thursday, November 9th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 33.93%.
A number of research firms have commented on PH. Citigroup raised their target price on shares of Parker-Hannifin from $175.00 to $185.00 and gave the stock a “neutral” rating in a research note on Friday, October 13th. Cowen restated a “hold” rating and set a $155.00 target price on shares of Parker-Hannifin in a research note on Sunday, October 29th. ValuEngine cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Robert W. Baird set a $163.00 price objective on shares of Parker-Hannifin and gave the company a “hold” rating in a research report on Thursday, August 24th. Finally, Wells Fargo & Company lifted their price objective on shares of Parker-Hannifin from $181.50 to $196.00 and gave the company a “market perform” rating in a research report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the stock. Parker-Hannifin has a consensus rating of “Buy” and a consensus price target of $188.95.
In related news, VP Andrew D. Ross sold 2,056 shares of the firm’s stock in a transaction on Friday, December 8th. The shares were sold at an average price of $192.14, for a total value of $395,039.84. Following the completion of the transaction, the vice president now directly owns 5,207 shares of the company’s stock, valued at $1,000,472.98. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Robert W. Bond sold 5,517 shares of the firm’s stock in a transaction on Friday, November 17th. The shares were sold at an average price of $181.72, for a total transaction of $1,002,549.24. Following the completion of the transaction, the vice president now directly owns 28,265 shares of the company’s stock, valued at $5,136,315.80. The disclosure for this sale can be found here. Over the last three months, insiders sold 22,495 shares of company stock valued at $4,127,941. 1.12% of the stock is currently owned by insiders.
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Parker-Hannifin 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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