Huntington National Bank lessened its holdings in Parker-Hannifin Corp (NYSE:PH) by 2.8% during the fourth quarter, HoldingsChannel reports. The firm owned 49,450 shares of the industrial products company’s stock after selling 1,426 shares during the period. Huntington National Bank’s holdings in Parker-Hannifin were worth $9,869,000 as of its most recent SEC filing.
Other hedge funds have also made changes to their positions in the company. IHT Wealth Management LLC lifted its position in shares of Parker-Hannifin by 20.8% in the second quarter. IHT Wealth Management LLC now owns 116 shares of the industrial products company’s stock worth $119,000 after purchasing an additional 20 shares in the last quarter. Americafirst Capital Management LLC bought a new stake in shares of Parker-Hannifin in the second quarter worth $167,000. Steward Partners Investment Advisory LLC bought a new stake in shares of Parker-Hannifin in the third quarter worth $168,000. Advisory Services Network LLC lifted its position in shares of Parker-Hannifin by 145.6% in the second quarter. Advisory Services Network LLC now owns 1,191 shares of the industrial products company’s stock worth $190,000 after purchasing an additional 706 shares in the last quarter. Finally, SeaCrest Wealth Management LLC bought a new stake in shares of Parker-Hannifin in the fourth quarter worth $197,000. 78.39% of the stock is currently owned by institutional investors and hedge funds.
PH has been the topic of a number of research reports. ValuEngine lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. Zacks Investment Research raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating and set a $198.00 price objective on the stock in a research report on Tuesday, October 10th. KeyCorp reissued a “buy” rating and issued a $200.00 price objective on shares of Parker-Hannifin in a research report on Thursday, October 12th. Citigroup boosted their price objective on shares of Parker-Hannifin from $175.00 to $185.00 and gave the stock a “neutral” rating in a research report on Friday, October 13th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $198.00 price objective on shares of Parker-Hannifin in a research report on Friday, October 13th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and eleven have assigned a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $199.53.
In other news, VP Thomas C. Gentile sold 326 shares of the stock in a transaction dated Friday, November 10th. The shares were sold at an average price of $181.89, for a total value of $59,296.14. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Joseph R. Leonti sold 5,279 shares of the stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $179.07, for a total transaction of $945,310.53. Following the completion of the transaction, the vice president now directly owns 8,032 shares in the company, valued at $1,438,290.24. The disclosure for this sale can be found here. Insiders have sold 16,669 shares of company stock worth $3,042,096 over the last ninety days. Insiders own 1.12% of the company’s stock.
Shares of Parker-Hannifin Corp (PH) opened at $182.00 on Tuesday. The company has a current ratio of 1.49, a quick ratio of 0.99 and a debt-to-equity ratio of 0.87. Parker-Hannifin Corp has a 1 year low of $145.38 and a 1 year high of $212.80. The stock has a market cap of $25,398.22, a price-to-earnings ratio of 21.30, a price-to-earnings-growth ratio of 1.65 and a beta of 1.31.
Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.15 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.07 by $0.08. Parker-Hannifin had a net margin of 6.54% and a return on equity of 23.15%. The firm had revenue of $3.37 billion for the quarter, compared to analyst estimates of $3.33 billion. During the same period in the prior year, the firm posted $1.91 earnings per share. The company’s quarterly revenue was up 26.2% compared to the same quarter last year. equities analysts anticipate that Parker-Hannifin Corp will post 9.94 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, March 2nd. Shareholders of record on Friday, February 9th will be given a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 1.45%. The ex-dividend date is Thursday, February 8th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 41.19%.
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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