Tocqueville Asset Management L.P. Acquires 5,400 Shares of Parker-Hannifin Corp (PH)

Tocqueville Asset Management L.P. boosted its holdings in shares of Parker-Hannifin Corp (NYSE:PH) by 13.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 44,250 shares of the industrial products company’s stock after acquiring an additional 5,400 shares during the period. Tocqueville Asset Management L.P.’s holdings in Parker-Hannifin were worth $8,139,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also modified their holdings of the business. MUFG Americas Holdings Corp grew its holdings in Parker-Hannifin by 1.5% during the 2nd quarter. MUFG Americas Holdings Corp now owns 22,152 shares of the industrial products company’s stock worth $3,452,000 after acquiring an additional 326 shares in the last quarter. Stokes Capital Advisors LLC boosted its holdings in shares of Parker-Hannifin by 2.9% in the 3rd quarter. Stokes Capital Advisors LLC now owns 11,780 shares of the industrial products company’s stock valued at $2,167,000 after buying an additional 330 shares in the last quarter. Riverhead Capital Management LLC boosted its holdings in shares of Parker-Hannifin by 6.3% in the 2nd quarter. Riverhead Capital Management LLC now owns 5,697 shares of the industrial products company’s stock valued at $888,000 after buying an additional 338 shares in the last quarter. Ascension Asset Management LLC boosted its holdings in shares of Parker-Hannifin by 3.6% in the 2nd quarter. Ascension Asset Management LLC now owns 10,200 shares of the industrial products company’s stock valued at $1,590,000 after buying an additional 350 shares in the last quarter. Finally, Manchester Capital Management LLC boosted its holdings in shares of Parker-Hannifin by 55.9% in the 2nd quarter. Manchester Capital Management LLC now owns 976 shares of the industrial products company’s stock valued at $152,000 after buying an additional 350 shares in the last quarter. Institutional investors own 79.67% of the company’s stock.

A number of research firms have recently weighed in on PH. ValuEngine upgraded shares of Parker-Hannifin from a “sell” rating to a “hold” rating in a report on Tuesday, November 6th. Morgan Stanley lowered their price target on shares of Parker-Hannifin from $187.00 to $179.00 and set a “hold” rating on the stock in a report on Monday, November 5th. Citigroup lowered their price target on shares of Parker-Hannifin from $185.00 to $178.00 and set a “neutral” rating on the stock in a report on Friday, November 2nd. Wells Fargo & Co upgraded shares of Parker-Hannifin from a “market perform” rating to an “outperform” rating and set a $193.00 price target on the stock in a report on Friday, November 2nd. Finally, Zacks Investment Research cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Thursday, October 18th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $186.72.

Shares of Parker-Hannifin stock opened at $157.04 on Friday. The company has a market capitalization of $21.62 billion, a P/E ratio of 15.07, a P/E/G ratio of 1.25 and a beta of 1.56. The company has a quick ratio of 1.07, a current ratio of 1.60 and a debt-to-equity ratio of 0.71. Parker-Hannifin Corp has a 52 week low of $143.00 and a 52 week high of $212.80.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, November 1st. The industrial products company reported $2.84 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.53 by $0.31. The firm had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.54 billion. Parker-Hannifin had a net margin of 7.98% and a return on equity of 25.49%. Parker-Hannifin’s revenue was up 3.4% on a year-over-year basis. During the same period last year, the firm posted $2.24 EPS. Analysts expect that Parker-Hannifin Corp will post 11.61 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 7th. Investors of record on Friday, November 9th were given a $0.76 dividend. This represents a $3.04 annualized dividend and a dividend yield of 1.94%. The ex-dividend date of this dividend was Thursday, November 8th. Parker-Hannifin’s payout ratio is currently 29.17%.

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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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