First National Trust Co. reduced its stake in Parker-Hannifin Corp. (NYSE:PH) by 5.6% during the second quarter, Holdings Channel reports. The fund owned 3,245 shares of the company’s stock after selling 194 shares during the period. First National Trust Co.’s holdings in Parker-Hannifin Corp. were worth $351,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. American Century Companies Inc. raised its position in Parker-Hannifin Corp. by 25.6% in the second quarter. American Century Companies Inc. now owns 1,369,527 shares of the company’s stock valued at $147,977,000 after buying an additional 279,278 shares during the period. Beutel Goodman & Co Ltd. bought a new position in shares of Parker-Hannifin Corp. during the second quarter worth about $103,826,000. BlackRock Group LTD raised its position in shares of Parker-Hannifin Corp. by 4.1% in the first quarter. BlackRock Group LTD now owns 1,143,610 shares of the company’s stock worth $127,034,000 after buying an additional 44,782 shares during the last quarter. Thomaspartners Inc. raised its position in shares of Parker-Hannifin Corp. by 7.9% in the first quarter. Thomaspartners Inc. now owns 957,533 shares of the company’s stock worth $106,363,000 after buying an additional 70,038 shares during the last quarter. Finally, Bank of Montreal Can bought a new position in shares of Parker-Hannifin Corp. during the second quarter worth about $91,657,000. 80.67% of the stock is owned by hedge funds and other institutional investors.
Parker-Hannifin Corp. (NYSE:PH) traded down 0.38% during trading on Thursday, reaching $126.92. 1,918,232 shares of the company’s stock traded hands. Parker-Hannifin Corp. has a one year low of $83.32 and a one year high of $128.24. The firm’s 50 day moving average price is $123.40 and its 200-day moving average price is $115.67. The stock has a market cap of $16.99 billion, a P/E ratio of 21.55 and a beta of 1.49.
Parker-Hannifin Corp. (NYSE:PH) last announced its earnings results on Thursday, August 4th. The company reported $1.90 EPS for the quarter, beating analysts’ consensus estimates of $1.75 by $0.15. The business had revenue of $2.96 billion for the quarter, compared to analysts’ expectations of $2.93 billion. Parker-Hannifin Corp. had a net margin of 7.10% and a return on equity of 18.37%. The company’s quarterly revenue was down 6.0% on a year-over-year basis. During the same period in the previous year, the company posted $1.73 EPS. On average, equities analysts anticipate that Parker-Hannifin Corp. will post $6.80 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, September 9th. Stockholders of record on Monday, August 29th were issued a $0.63 dividend. The ex-dividend date was Thursday, August 25th. This represents a $2.52 dividend on an annualized basis and a dividend yield of 1.99%. Parker-Hannifin Corp.’s payout ratio is 42.86%.
PH has been the topic of a number of recent analyst reports. Wells Fargo & Co. upgraded shares of Parker-Hannifin Corp. from a “market perform” rating to an “outperform” rating in a research note on Thursday, June 30th. JPMorgan Chase & Co. lowered shares of Parker-Hannifin Corp. from a “neutral” rating to an “underweight” rating and cut their price target for the company from $110.00 to $98.00 in a research note on Monday, June 27th. Jefferies Group restated a “hold” rating on shares of Parker-Hannifin Corp. in a research note on Monday, September 12th. Zacks Investment Research lowered shares of Parker-Hannifin Corp. from a “buy” rating to a “hold” rating in a research note on Friday, July 15th. Finally, Stifel Nicolaus upgraded shares of Parker-Hannifin Corp. from a “hold” rating to a “buy” rating and upped their price target for the company from $131.00 to $141.00 in a research note on Wednesday. Three analysts have rated the stock with a sell rating, eleven have issued a hold rating and seven have given a buy rating to the company’s stock. Parker-Hannifin Corp. presently has an average rating of “Hold” and a consensus target price of $116.12.
In other news, VP Martin C. Maxwell sold 893 shares of Parker-Hannifin Corp. stock in a transaction on Friday, August 5th. The shares were sold at an average price of $120.62, for a total value of $107,713.66. Following the transaction, the vice president now directly owns 39,451 shares of the company’s stock, valued at approximately $4,758,579.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Robert W. Bond sold 14,043 shares of Parker-Hannifin Corp. stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $124.51, for a total transaction of $1,748,493.93. The disclosure for this sale can be found here. 2.73% of the stock is currently owned by insiders.
About Parker-Hannifin Corp.
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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