Private Advisor Group LLC purchased a new stake in Parker-Hannifin Co. (NYSE:PH – Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 4,892 shares of the industrial products company’s stock, valued at approximately $1,644,000.
Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. lifted its position in shares of Parker-Hannifin by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 9,849,497 shares of the industrial products company’s stock worth $2,794,892,000 after purchasing an additional 190,889 shares during the last quarter. Geode Capital Management LLC raised its stake in Parker-Hannifin by 2.5% during the 4th quarter. Geode Capital Management LLC now owns 2,578,874 shares of the industrial products company’s stock worth $749,061,000 after acquiring an additional 62,303 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in Parker-Hannifin by 0.3% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,025,151 shares of the industrial products company’s stock worth $573,799,000 after acquiring an additional 6,323 shares in the last quarter. Norges Bank acquired a new stake in Parker-Hannifin during the 4th quarter worth $519,286,000. Finally, Morgan Stanley raised its stake in Parker-Hannifin by 11.4% during the 4th quarter. Morgan Stanley now owns 1,737,517 shares of the industrial products company’s stock worth $505,618,000 after acquiring an additional 178,108 shares in the last quarter. 81.62% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling
In related news, EVP Mark J. Hart sold 3,906 shares of the business’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $417.60, for a total transaction of $1,631,145.60. Following the sale, the executive vice president now owns 7,063 shares of the company’s stock, valued at $2,949,508.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Parker-Hannifin news, EVP Mark J. Hart sold 3,906 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $417.60, for a total value of $1,631,145.60. Following the sale, the executive vice president now owns 7,063 shares of the company’s stock, valued at $2,949,508.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Linda S. Harty sold 1,487 shares of the company’s stock in a transaction dated Monday, August 7th. The shares were sold at an average price of $424.28, for a total transaction of $630,904.36. Following the completion of the sale, the director now directly owns 4,344 shares in the company, valued at approximately $1,843,072.32. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 10,418 shares of company stock valued at $4,104,307. Corporate insiders own 1.37% of the company’s stock.
Analyst Upgrades and Downgrades
Parker-Hannifin Trading Up 1.6 %
Shares of Parker-Hannifin stock opened at $403.21 on Friday. Parker-Hannifin Co. has a 52-week low of $235.69 and a 52-week high of $428.16. The company has a quick ratio of 0.51, a current ratio of 0.88 and a debt-to-equity ratio of 0.85. The company’s 50-day simple moving average is $397.50 and its 200-day simple moving average is $357.16. The firm has a market cap of $51.78 billion, a price-to-earnings ratio of 25.20, a price-to-earnings-growth ratio of 1.52 and a beta of 1.52.
Parker-Hannifin (NYSE:PH – Get Free Report) last released its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $6.08 EPS for the quarter, topping analysts’ consensus estimates of $5.48 by $0.60. The firm had revenue of $5.10 billion for the quarter, compared to the consensus estimate of $5.01 billion. Parker-Hannifin had a net margin of 10.93% and a return on equity of 29.26%. The firm’s revenue was up 21.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.16 earnings per share. As a group, equities research analysts anticipate that Parker-Hannifin Co. will post 22.59 earnings per share for the current year.
Parker-Hannifin Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 8th. Investors of record on Monday, August 28th will be issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a yield of 1.47%. The ex-dividend date of this dividend is Friday, August 25th. Parker-Hannifin’s dividend payout ratio is currently 37.00%.
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 through two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; 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; control solutions for extreme corrosion resistance, temperatures, pressures, and precise flow; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.
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