Cambridge Investment Research Advisors Inc. raised its stake in Parker-Hannifin Co. (NYSE:PH – Free Report) by 4.2% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 13,439 shares of the industrial products company’s stock after buying an additional 536 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Parker-Hannifin were worth $5,242,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other large investors also recently added to or reduced their stakes in PH. Cetera Advisor Networks LLC boosted its position in Parker-Hannifin by 8.1% in the 1st quarter. Cetera Advisor Networks LLC now owns 1,496 shares of the industrial products company’s stock valued at $425,000 after buying an additional 112 shares during the period. Panagora Asset Management Inc. raised its holdings in shares of Parker-Hannifin by 69.8% in the 1st quarter. Panagora Asset Management Inc. now owns 3,869 shares of the industrial products company’s stock valued at $1,098,000 after purchasing an additional 1,591 shares in the last quarter. Prudential PLC bought a new stake in shares of Parker-Hannifin in the 1st quarter valued at about $687,000. Moors & Cabot Inc. raised its holdings in shares of Parker-Hannifin by 270.8% in the 1st quarter. Moors & Cabot Inc. now owns 2,718 shares of the industrial products company’s stock valued at $771,000 after purchasing an additional 1,985 shares in the last quarter. Finally, Vanguard Group Inc. raised its holdings in shares of Parker-Hannifin by 2.0% in the 1st quarter. Vanguard Group Inc. now owns 9,849,497 shares of the industrial products company’s stock valued at $2,794,892,000 after purchasing an additional 190,889 shares in the last quarter. 82.25% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
PH has been the subject of several recent research reports. Morgan Stanley boosted their price target on shares of Parker-Hannifin from $408.00 to $448.00 and gave the company an “equal weight” rating in a report on Monday, August 7th. Barclays boosted their price target on shares of Parker-Hannifin from $425.00 to $470.00 and gave the company an “overweight” rating in a report on Friday, August 4th. StockNews.com assumed coverage on shares of Parker-Hannifin in a report on Friday, August 18th. They issued a “buy” rating for the company. Mizuho boosted their price objective on shares of Parker-Hannifin from $335.00 to $415.00 in a research note on Friday, July 7th. Finally, Robert W. Baird boosted their price objective on shares of Parker-Hannifin from $436.00 to $465.00 and gave the stock an “outperform” rating in a research note on Thursday, August 3rd. Four equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $436.29.
Parker-Hannifin Stock Up 1.1 %
NYSE:PH opened at $391.51 on Tuesday. The company has a market cap of $50.28 billion, a PE ratio of 24.47, a P/E/G ratio of 1.45 and a beta of 1.52. Parker-Hannifin Co. has a twelve month low of $235.69 and a twelve month high of $428.16. The company has a current ratio of 0.88, a quick ratio of 0.51 and a debt-to-equity ratio of 0.85. The company’s 50 day moving average is $405.51 and its two-hundred day moving average is $364.33.
Parker-Hannifin (NYSE:PH – Get Free Report) last released its earnings results on Thursday, August 3rd. The industrial products company reported $6.08 earnings per share for the quarter, topping the consensus estimate of $5.48 by $0.60. The company 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%. Parker-Hannifin’s revenue was up 21.7% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.16 EPS. Analysts anticipate that Parker-Hannifin Co. will post 22.65 EPS for the current year.
Parker-Hannifin Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Monday, August 28th were issued a $1.48 dividend. This represents a $5.92 annualized dividend and a dividend yield of 1.51%. The ex-dividend date of this dividend was Friday, August 25th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 37.00%.
Insider Transactions at Parker-Hannifin
In other news, CFO Todd M. Leombruno sold 5,002 shares of the stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $416.11, for a total value of $2,081,382.22. Following the sale, the chief financial officer now owns 11,656 shares in the company, valued at $4,850,178.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, EVP Mark J. Hart sold 3,906 shares of the stock in a transaction on 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 in the company, valued at $2,949,508.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Todd M. Leombruno sold 5,002 shares of the firm’s stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $416.11, for a total transaction of $2,081,382.22. Following the sale, the chief financial officer now owns 11,656 shares in the company, valued at approximately $4,850,178.16. The disclosure for this sale can be found here. Insiders have sold 12,918 shares of company stock worth $5,385,885 over the last 90 days. 1.37% of the stock is currently owned by company insiders.
Parker-Hannifin 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 ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.
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