River Wealth Advisors LLC decreased its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 8.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 6,717 shares of the industrial products company’s stock after selling 602 shares during the period. River Wealth Advisors LLC’s holdings in Parker-Hannifin Corporation were worth $1,176,000 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 PH. Israel Discount Bank of New York lifted its stake in Parker-Hannifin Corporation 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 in the last quarter. Parallel Advisors LLC lifted its stake in Parker-Hannifin Corporation 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 in the last quarter. IHT Wealth Management LLC lifted its stake in Parker-Hannifin Corporation 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 in the last quarter. BT Investment Management Ltd acquired a new position in Parker-Hannifin Corporation during the 2nd quarter worth about $124,000. Finally, Sun Life Financial INC lifted its stake in Parker-Hannifin Corporation 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 in the last quarter. 77.73% of the stock is currently owned by hedge funds and other institutional investors.
Parker-Hannifin Corporation (NYSE:PH) traded down $0.93 on Tuesday, hitting $181.30. The stock had a trading volume of 545,400 shares, compared to its average volume of 1,017,121. The stock has a market cap of $24,277.79, a P/E ratio of 20.92, a P/E/G ratio of 1.64 and a beta of 1.40. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 0.87. Parker-Hannifin Corporation has a fifty-two week low of $134.03 and a fifty-two week high of $189.83.
Parker-Hannifin Corporation (NYSE:PH) last released its quarterly earnings results on Thursday, November 2nd. The industrial products company reported $2.24 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.22. The firm had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $3.31 billion. Parker-Hannifin Corporation had a return on equity of 23.61% and a net margin of 8.37%. The firm’s quarterly revenue was up 22.7% compared to the same quarter last year. During the same quarter last year, the business posted $1.61 EPS. analysts forecast that Parker-Hannifin Corporation will post 9.55 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 10th will be paid a dividend of $0.66 per share. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $2.64 dividend on an annualized basis and a yield of 1.46%. Parker-Hannifin Corporation’s dividend payout ratio is presently 33.93%.
A number of equities research analysts have issued reports on the company. Jefferies Group LLC reaffirmed a “hold” rating and issued a $165.00 price target (up previously from $163.00) on shares of Parker-Hannifin Corporation in a research report on Wednesday, August 9th. Zacks Investment Research lowered Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. BidaskClub lowered Parker-Hannifin Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Cowen and Company reaffirmed a “hold” rating and issued a $155.00 price target on shares of Parker-Hannifin Corporation in a research report on Sunday, October 29th. Finally, Citigroup Inc. increased their price target on Parker-Hannifin Corporation from $185.00 to $195.00 and gave the company a “neutral” rating in a research report on Friday, November 3rd. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus price target of $188.37.
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In related news, VP Robert W. Malone sold 540 shares of the firm’s stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $186.37, for a total transaction of $100,639.80. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP Thomas C. Gentile sold 326 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $181.89, for a total value of $59,296.14. The disclosure for this sale can be found here. Insiders have sold a total of 11,541 shares of company stock worth $2,024,054 in the last 90 days. 1.12% of the stock is currently owned by company insiders.
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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