Gabelli Funds LLC grew its position in shares of Parker-Hannifin Corp (NYSE:PH) by 0.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 16,650 shares of the industrial products company’s stock after acquiring an additional 100 shares during the period. Gabelli Funds LLC’s holdings in Parker-Hannifin were worth $3,007,000 at the end of the most recent reporting period.
Several other institutional investors have also recently made changes to their positions in PH. Ibex Wealth Advisors purchased a new stake in Parker-Hannifin during the 2nd quarter valued at about $27,000. Private Capital Group LLC boosted its holdings in Parker-Hannifin by 126.3% during the 2nd quarter. Private Capital Group LLC now owns 172 shares of the industrial products company’s stock valued at $27,000 after acquiring an additional 96 shares during the period. Quest Capital Management Inc. ADV purchased a new stake in Parker-Hannifin during the 3rd quarter valued at about $32,000. TRUE Private Wealth Advisors purchased a new stake in Parker-Hannifin during the 2nd quarter valued at about $34,000. Finally, HMS Capital Management LLC purchased a new stake in Parker-Hannifin during the 2nd quarter valued at about $36,000. Hedge funds and other institutional investors own 80.32% of the company’s stock.
Several brokerages recently weighed in on PH. BMO Capital Markets increased their target price on Parker-Hannifin to $210.00 and gave the company an “outperform” rating in a report on Tuesday, November 5th. Stifel Nicolaus dropped their target price on Parker-Hannifin from $176.00 to $174.00 and set a “hold” rating for the company in a report on Monday, October 7th. Deutsche Bank upgraded Parker-Hannifin from a “hold” rating to a “buy” rating and increased their price objective for the stock from $179.00 to $215.00 in a report on Friday, November 1st. Wolfe Research set a $189.00 price objective on Parker-Hannifin and gave the stock a “hold” rating in a report on Friday, November 1st. Finally, Morgan Stanley set a $193.00 price objective on Parker-Hannifin and gave the stock a “hold” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and four have given a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $185.85.
NYSE PH traded up $0.32 on Friday, hitting $199.54. The company’s stock had a trading volume of 684,020 shares, compared to its average volume of 893,147. Parker-Hannifin Corp has a 52-week low of $140.82 and a 52-week high of $201.38. The company has a current ratio of 1.96, a quick ratio of 1.53 and a debt-to-equity ratio of 1.21. The company’s 50-day simple moving average is $183.23 and its 200 day simple moving average is $172.39. The firm has a market cap of $25.53 billion, a P/E ratio of 16.84, a PEG ratio of 2.01 and a beta of 1.55.
Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $2.76 earnings per share for the quarter, topping the consensus estimate of $2.64 by $0.12. Parker-Hannifin had a return on equity of 25.74% and a net margin of 10.41%. The business had revenue of $3.33 billion during the quarter, compared to analysts’ expectations of $3.33 billion. During the same quarter last year, the business posted $2.84 EPS. The business’s revenue was down 4.2% on a year-over-year basis. On average, research analysts forecast that Parker-Hannifin Corp will post 10.71 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be paid a $0.88 dividend. This represents a $3.52 dividend on an annualized basis and a dividend yield of 1.76%. The ex-dividend date is Thursday, November 7th. Parker-Hannifin’s payout ratio is presently 29.70%.
In other news, VP Joseph R. Leonti sold 2,228 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $200.56, for a total value of $446,847.68. Following the completion of the transaction, the vice president now owns 22,099 shares in the company, valued at approximately $4,432,175.44. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Joseph Scaminace sold 1,818 shares of the firm’s stock in a transaction that occurred on Monday, November 4th. The shares were sold at an average price of $197.89, for a total value of $359,764.02. Following the completion of the transaction, the director now owns 13,707 shares of the company’s stock, valued at approximately $2,712,478.23. The disclosure for this sale can be found here. In the last 90 days, insiders sold 66,136 shares of company stock valued at $12,079,422. 1.23% of the stock is currently owned by company insiders.
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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