Ardevora Asset Management LLP reduced its stake in shares of Parker Hannifin (NYSE:PH) by 0.5% in the first quarter, HoldingsChannel.com reports. The fund owned 154,400 shares of the industrial products company’s stock after selling 800 shares during the quarter. Ardevora Asset Management LLP’s holdings in Parker Hannifin were worth $26,407,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors also recently added to or reduced their stakes in the company. Sentry Investment Management LLC boosted its holdings in Parker Hannifin by 0.8% in the 4th quarter. Sentry Investment Management LLC now owns 34,739 shares of the industrial products company’s stock worth $6,933,000 after buying an additional 282 shares during the period. Fort Washington Investment Advisors Inc. OH boosted its holdings in Parker Hannifin by 28.8% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 1,452 shares of the industrial products company’s stock worth $248,000 after buying an additional 325 shares during the period. San Francisco Sentry Investment Group CA boosted its holdings in Parker Hannifin by 139.3% in the 4th quarter. San Francisco Sentry Investment Group CA now owns 579 shares of the industrial products company’s stock worth $116,000 after buying an additional 337 shares during the period. FDx Advisors Inc. boosted its holdings in Parker Hannifin by 6.9% in the 4th quarter. FDx Advisors Inc. now owns 5,418 shares of the industrial products company’s stock worth $1,081,000 after buying an additional 349 shares during the period. Finally, CIBC World Markets Inc. boosted its holdings in Parker Hannifin by 29.8% in the 4th quarter. CIBC World Markets Inc. now owns 1,642 shares of the industrial products company’s stock worth $328,000 after buying an additional 377 shares during the period. 80.17% of the stock is owned by hedge funds and other institutional investors.
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Shares of Parker Hannifin opened at $176.43 on Tuesday, MarketBeat reports. The company has a quick ratio of 1.09, a current ratio of 1.59 and a debt-to-equity ratio of 0.82. Parker Hannifin has a one year low of $174.64 and a one year high of $176.52. The firm has a market capitalization of $23.28 billion, a price-to-earnings ratio of 21.75, a PEG ratio of 1.49 and a beta of 1.44.
Parker Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, April 26th. The industrial products company reported $2.80 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.62 by $0.18. Parker Hannifin had a net margin of 7.16% and a return on equity of 23.63%. The firm had revenue of $3.75 billion during the quarter, compared to the consensus estimate of $3.67 billion. During the same period last year, the firm earned $2.11 EPS. The business’s quarterly revenue was up 20.2% compared to the same quarter last year. equities analysts expect that Parker Hannifin will post 10.08 earnings per share for the current fiscal year.
The company also recently declared a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Thursday, May 10th will be issued a $0.76 dividend. This represents a $3.04 annualized dividend and a yield of 1.72%. This is an increase from Parker Hannifin’s previous quarterly dividend of $0.66. The ex-dividend date of this dividend is Wednesday, May 9th. Parker Hannifin’s dividend payout ratio (DPR) is presently 37.48%.
Several research firms recently commented on PH. Citigroup raised their price objective on shares of Parker Hannifin from $195.00 to $220.00 and gave the stock a “neutral” rating in a report on Tuesday, January 30th. Buckingham Research cut their price objective on shares of Parker Hannifin from $210.00 to $195.00 and set a “hold” rating for the company in a report on Friday, April 27th. Zacks Investment Research downgraded shares of Parker Hannifin from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Robert W. Baird raised shares of Parker Hannifin from a “neutral” rating to an “outperform” rating and set a $203.00 price objective for the company in a report on Thursday, March 8th. Finally, JPMorgan Chase cut their price objective on shares of Parker Hannifin from $210.00 to $199.00 and set an “overweight” rating for the company in a report on Tuesday, April 10th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $200.40.
In other Parker Hannifin news, Director Candy M. Obourn sold 1,825 shares of the firm’s stock in a transaction on Monday, April 30th. The shares were sold at an average price of $164.93, for a total value of $300,997.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph Scaminace sold 1,000 shares of the firm’s stock in a transaction on Thursday, February 15th. The shares were sold at an average price of $184.97, for a total transaction of $184,970.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,113 shares of company stock valued at $1,593,088. Insiders own 1.12% of the company’s stock.
About Parker Hannifin
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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