BBR Partners LLC cut its position in Parker-Hannifin Corporation (NYSE:PH) by 3.2% during the fourth quarter, Holdings Channel reports. The firm owned 3,880 shares of the company’s stock after selling 127 shares during the period. BBR Partners LLC’s holdings in Parker-Hannifin Corporation were worth $543,000 at the end of the most recent quarter.
Other large investors have also made changes to their positions in the company. Itau Unibanco Holding S.A. purchased a new position in shares of Parker-Hannifin Corporation during the third quarter valued at about $105,000. Bronfman E.L. Rothschild L.P. increased its position in shares of Parker-Hannifin Corporation by 236.7% in the third quarter. Bronfman E.L. Rothschild L.P. now owns 1,155 shares of the company’s stock valued at $145,000 after buying an additional 812 shares in the last quarter. Cornerstone Advisors Inc. increased its position in shares of Parker-Hannifin Corporation by 398.7% in the third quarter. Cornerstone Advisors Inc. now owns 1,182 shares of the company’s stock worth $148,000 after buying an additional 945 shares during the period. Massey Quick & Co. LLC bought a new position in shares of Parker-Hannifin Corporation during the fourth quarter worth $168,000. Finally, Global X Management Co. LLC increased its position in shares of Parker-Hannifin Corporation by 133.1% in the third quarter. Global X Management Co. LLC now owns 1,226 shares of the company’s stock worth $154,000 after buying an additional 700 shares during the period. Institutional investors and hedge funds own 82.72% of the company’s stock.
Parker-Hannifin Corporation (NYSE:PH) traded up 1.47% during trading on Monday, reaching $152.46. 1,625,161 shares of the company traded hands. The firm has a 50-day moving average price of $145.05 and a 200-day moving average price of $131.64. Parker-Hannifin Corporation has a 52 week low of $96.85 and a 52 week high of $153.13. The company has a market capitalization of $20.32 billion, a P/E ratio of 23.52 and a beta of 1.28.
Parker-Hannifin Corporation (NYSE:PH) last posted its earnings results on Thursday, February 2nd. The company reported $1.91 EPS for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.52. Parker-Hannifin Corporation had a net margin of 7.86% and a return on equity of 20.08%. The company had revenue of $2.67 billion for the quarter, compared to analysts’ expectations of $2.69 billion. During the same quarter in the prior year, the company posted $1.52 earnings per share. Parker-Hannifin Corporation’s revenue for the quarter was down 1.3% compared to the same quarter last year. Analysts forecast that Parker-Hannifin Corporation will post $7.33 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which will be paid on Friday, March 3rd. Shareholders of record on Friday, February 10th will be given a $0.66 dividend. The ex-dividend date is Wednesday, February 8th. This represents a $2.64 dividend on an annualized basis and a yield of 1.73%. This is a boost from Parker-Hannifin Corporation’s previous quarterly dividend of $0.63. Parker-Hannifin Corporation’s dividend payout ratio is presently 40.80%.
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A number of research analysts recently weighed in on the stock. Morgan Stanley upgraded shares of Parker-Hannifin Corporation from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $118.00 to $139.00 in a research report on Monday, November 7th. Evercore ISI upgraded shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research report on Monday, November 7th. TheStreet upgraded shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, November 9th. Deutsche Bank AG upgraded shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research report on Friday, December 2nd. Finally, Barclays PLC restated a “hold” rating and set a $138.00 price objective on shares of Parker-Hannifin Corporation in a research report on Wednesday, January 18th. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $143.27.
In other news, VP John G. Dedinsky, Jr. sold 1,472 shares of the stock in a transaction dated Thursday, December 1st. The shares were sold at an average price of $143.63, for a total transaction of $211,423.36. Following the sale, the vice president now owns 28,481 shares of the company’s stock, valued at $4,090,726.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Candy M. Obourn sold 1,755 shares of the stock in a transaction dated Thursday, December 8th. The stock was sold at an average price of $142.92, for a total transaction of $250,824.60. The disclosure for this sale can be found here. Insiders sold 15,899 shares of company stock worth $2,254,956 in the last ninety days. 2.73% of the stock is currently owned by corporate insiders.
About Parker-Hannifin Corporation
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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