HM Payson & Co. Reduces Holdings in Parker-Hannifin Corp (PH)

HM Payson & Co. cut its holdings in Parker-Hannifin Corp (NYSE:PH) by 5.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 36,119 shares of the industrial products company’s stock after selling 2,150 shares during the quarter. HM Payson & Co.’s holdings in Parker-Hannifin were worth $6,643,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of PH. Vulcan Value Partners LLC raised its position in Parker-Hannifin by 97.5% in the second quarter. Vulcan Value Partners LLC now owns 3,178,193 shares of the industrial products company’s stock worth $495,321,000 after acquiring an additional 1,569,099 shares in the last quarter. Charles Schwab Investment Advisory Inc. purchased a new position in Parker-Hannifin in the 2nd quarter worth about $214,250,000. Janus Henderson Group PLC increased its stake in Parker-Hannifin by 27.5% in the 2nd quarter. Janus Henderson Group PLC now owns 2,541,885 shares of the industrial products company’s stock worth $396,154,000 after purchasing an additional 548,399 shares in the last quarter. Millennium Management LLC increased its stake in Parker-Hannifin by 3,693.0% in the 2nd quarter. Millennium Management LLC now owns 509,140 shares of the industrial products company’s stock worth $79,349,000 after purchasing an additional 495,717 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in Parker-Hannifin by 3,349.8% in the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 383,413 shares of the industrial products company’s stock worth $70,521,000 after purchasing an additional 372,299 shares in the last quarter. Hedge funds and other institutional investors own 78.23% of the company’s stock.

A number of equities analysts recently weighed in on PH shares. Wells Fargo & Co reissued a “hold” rating on shares of Parker-Hannifin in a research note on Friday, August 3rd. Credit Suisse Group dropped their price target on Parker-Hannifin from $214.00 to $210.00 and set an “outperform” rating on the stock in a research note on Friday, August 3rd. Robert W. Baird set a $190.00 price target on Parker-Hannifin and gave the stock a “buy” rating in a research note on Thursday, August 2nd. Evercore ISI raised Parker-Hannifin from an “in-line” rating to an “outperform” rating in a research note on Monday, August 6th. Finally, ValuEngine raised Parker-Hannifin from a “sell” rating to a “hold” rating in a research note on Tuesday, August 7th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $186.72.

NYSE:PH traded down $0.21 on Friday, hitting $168.69. 31,108 shares of the company’s stock traded hands, compared to its average volume of 1,305,152. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.60 and a quick ratio of 1.07. Parker-Hannifin Corp has a 1 year low of $143.00 and a 1 year high of $212.80. The stock has a market cap of $22.36 billion, a PE ratio of 16.20, a price-to-earnings-growth ratio of 1.29 and a beta of 1.52.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, November 1st. The industrial products company reported $2.84 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.53 by $0.31. Parker-Hannifin had a return on equity of 25.49% and a net margin of 7.98%. The company had revenue of $3.48 billion for the quarter, compared to analysts’ expectations of $3.54 billion. During the same quarter in the previous year, the business posted $2.24 EPS. The business’s revenue for the quarter was up 3.4% on a year-over-year basis. On average, equities research analysts anticipate that Parker-Hannifin Corp will post 11.61 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 7th. Shareholders of record on Friday, November 9th will be paid a dividend of $0.76 per share. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $3.04 annualized dividend and a yield of 1.80%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 29.17%.

In other Parker-Hannifin news, VP Joseph R. Leonti sold 1,605 shares of Parker-Hannifin stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $176.56, for a total transaction of $283,378.80. Following the transaction, the vice president now owns 15,731 shares of the company’s stock, valued at approximately $2,777,465.36. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 1.12% of the company’s stock.

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Parker-Hannifin Company Profile

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates in two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment provides static and dynamic sealing devices; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; hydraulic, pneumatic, and electromechanical components and systems for builders and users of industrial and mobile machinery and equipment; and critical flow components for process instrumentation, healthcare, and ultra-high-purity applications, as well as components for use in refrigeration and air conditioning systems, and in fluid control applications for processing, fuel dispensing, beverage dispensing, and mobile emissions.

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Institutional Ownership by Quarter for Parker-Hannifin (NYSE:PH)

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