Sound Income Strategies LLC trimmed its position in Parker-Hannifin Co. (NYSE:PH – Get Rating) by 5.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,013 shares of the industrial products company’s stock after selling 189 shares during the period. Sound Income Strategies LLC’s holdings in Parker-Hannifin were worth $877,000 at the end of the most recent reporting period.
Several other large investors have also recently bought and sold shares of the company. Transamerica Financial Advisors Inc. raised its position in Parker-Hannifin by 8.9% in the 3rd quarter. Transamerica Financial Advisors Inc. now owns 417 shares of the industrial products company’s stock worth $101,000 after purchasing an additional 34 shares during the period. Stephens Inc. AR increased its position in shares of Parker-Hannifin by 1.4% in the third quarter. Stephens Inc. AR now owns 2,559 shares of the industrial products company’s stock valued at $620,000 after acquiring an additional 35 shares during the period. Checchi Capital Advisers LLC increased its position in shares of Parker-Hannifin by 2.8% in the third quarter. Checchi Capital Advisers LLC now owns 1,380 shares of the industrial products company’s stock valued at $334,000 after acquiring an additional 37 shares during the period. Jarislowsky Fraser Ltd increased its position in shares of Parker-Hannifin by 0.7% in the third quarter. Jarislowsky Fraser Ltd now owns 5,873 shares of the industrial products company’s stock valued at $1,423,000 after acquiring an additional 38 shares during the period. Finally, Physicians Financial Services Inc. increased its position in shares of Parker-Hannifin by 0.7% in the third quarter. Physicians Financial Services Inc. now owns 5,890 shares of the industrial products company’s stock valued at $1,427,000 after acquiring an additional 39 shares during the period. 81.32% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
A number of research firms have issued reports on PH. Citigroup boosted their price objective on shares of Parker-Hannifin from $320.00 to $360.00 and gave the company a “neutral” rating in a research report on Tuesday, February 7th. KeyCorp lifted their target price on shares of Parker-Hannifin from $335.00 to $390.00 and gave the company an “overweight” rating in a research note on Friday, February 3rd. Barclays lifted their target price on shares of Parker-Hannifin from $343.00 to $400.00 and gave the company an “overweight” rating in a research note on Sunday, February 5th. StockNews.com started coverage on shares of Parker-Hannifin in a research note on Thursday. They set a “hold” rating on the stock. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Parker-Hannifin from $307.00 to $322.00 in a research note on Friday, February 3rd. Six research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $363.25.
Insider Transactions at Parker-Hannifin
Parker-Hannifin Stock Down 2.9 %
NYSE:PH traded down $9.08 during mid-day trading on Friday, hitting $304.92. 1,809,592 shares of the company’s stock were exchanged, compared to its average volume of 975,954. Parker-Hannifin Co. has a one year low of $230.44 and a one year high of $364.57. The company has a debt-to-equity ratio of 1.29, a current ratio of 1.28 and a quick ratio of 0.73. The business has a fifty day moving average price of $334.90 and a 200 day moving average price of $299.51. The company has a market cap of $39.11 billion, a PE ratio of 31.50, a P/E/G ratio of 1.45 and a beta of 1.51.
Parker-Hannifin (NYSE:PH – Get Rating) last posted its quarterly earnings data on Thursday, February 2nd. The industrial products company reported $4.76 EPS for the quarter, topping the consensus estimate of $4.45 by $0.31. The business had revenue of $4.67 billion for the quarter, compared to analyst estimates of $4.44 billion. Parker-Hannifin had a net margin of 7.33% and a return on equity of 28.23%. Parker-Hannifin’s quarterly revenue was up 22.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $4.46 earnings per share. Equities analysts predict that Parker-Hannifin Co. will post 19.6 EPS for the current year.
Parker-Hannifin Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, February 10th. Stockholders of record on Friday, March 3rd were paid a $1.33 dividend. The ex-dividend date of this dividend was Thursday, February 9th. This represents a $5.32 annualized dividend and a dividend yield of 1.74%. Parker-Hannifin’s dividend payout ratio is presently 54.96%.
Parker-Hannifin Company Profile
Parker-Hannifin Corp. engages in the manufacture of motion and control technologies and systems. It operates through Diversified Industrial and Aerospace Systems segments. The Diversified Industrial segment sells products to both original equipment manufacturers and distributors who serve the replacement markets in manufacturing, packaging, processing, transportation, mobile construction, refrigeration and air conditioning, agricultural and military machinery, and equipment industries.
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