Telemus Capital LLC increased its position in shares of Parker-Hannifin Co. (NYSE: PH – Get Rating) by 6.1% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 5,367 shares of the industrial products company stock after buying an additional 309 shares during the quarter. Telemus Capital LLC’s holdings in Parker-Hannifin were worth $ 1,523,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. State Street Corp boosted its holdings in shares of Parker-Hannifin by 1.4% during the 4th quarter. State Street Corp now owns 6,191,510 shares of the industrial products company stock worth $ 1,969,643,000 after buying an additional 88,326 shares during the period. JPMorgan Chase & Co. raised its stake in Parker-Hannifin by 2.6% during the 4th quarter. JPMorgan Chase & Co. now owns 5,226,773 shares of the industrial products company stock valued at $ 1,662,740,000 after purchasing an additional 130,530 shares during the last quarter. Geode Capital Management LLC raised its stake in Parker-Hannifin by 4.7% during the 4th quarter. Geode Capital Management LLC now owns 2,351,599 shares of the industrial products company stock valued at $ 746,079,000 after purchasing an additional 105,181 shares during the last quarter. Norges Bank acquired a new position in Parker-Hannifin during the 4th quarter valued at $ 720,070,000. Finally, Victory Capital Management Inc. raised its stake in Parker-Hannifin by 13.8% during the 4th quarter. Victory Capital Management Inc. now owns 1,352,008 shares of the industrial products company stock valued at $ 430,101,000 after purchasing an additional 163,952 shares during the last quarter. 80.55% of the stock is owned by institutional investors and hedge funds.
In other Parker-Hannifin news, Director James L. Wainscott bought 1,000 shares of Parker-Hannifin stock in a transaction dated Monday, May 9th. The shares were bought at an average price of $ 273.44 per share, with a total value of $ 273,440.00. Following the purchase, the director now owns 18,280 shares of the company stock, valued at $ 4,998,483.20. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director James L. Wainscott bought 2,000 shares of Parker-Hannifin stock in a transaction dated Friday, May 6th. The stock was acquired at an average cost of $ 267.78 per share, for a total transaction of $ 535,560.00. Following the purchase, the director now directly owns 17,280 shares in the company, valued at approximately $ 4,627,238.40. The disclosure for this purchase can be found here. 1.30% of the stock is owned by corporate insiders.
PH has been the subject of several research analyst reports. Mizuho cut their target price on shares of Parker-Hannifin from $ 305.00 to $ 290.00 in a research note on Friday, May 6th. Stifel Nicolaus dropped their price objective on shares of Parker-Hannifin from $ 384.00 to $ 338.00 and set a “buy” rating for the company in a research note on Monday, April 18th. Jefferies Financial Group dropped their price objective on shares of Parker-Hannifin from $ 380.00 to $ 350.00 and set a “buy” rating for the company in a research note on Friday, March 4th. Deutsche Bank Aktiengesellschaft dropped their price target on shares of Parker-Hannifin from $ 343.00 to $ 335.00 and set a “hold” rating for the company in a research note on Thursday, April 14th. Finally, StockNews.com began coverage on shares of Parker-Hannifin in a research note on Thursday, March 31st. They issued a “buy” rating for the company. Three investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat.com, Parker-Hannifin currently has an average rating of “Buy” and a consensus price target of $ 357.85.
Shares of Parker-Hannifin stock opened at $ 236.37 on Monday. The stock has a market capitalization of $ 30.34 billion, a P / E ratio of 18.28, a price-to-earnings-growth ratio of 1.44 and a beta of 1.57. The company has a quick ratio of 1.09, a current ratio of 1.52 and a debt-to-equity ratio of 0.69. The company has a 50-day simple moving average of $ 269.98 and a 200 day simple moving average of $ 291.09. Parker-Hannifin Co. has a 12-month low of $ 230.44 and a 12-month high of $ 340.00.
Parker-Hannifin (NYSE: PH – Get Rating) last announced its earnings results on Thursday, May 5th. The industrial products company reported $ 4.83 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $ 4.61 by $ 0.22. Parker-Hannifin had a net margin of 10.82% and a return on equity of 27.07%. The business had revenue of $ 4.09 billion during the quarter, compared to analysts’ expectations of $ 4.07 billion. During the same quarter last year, the company posted $ 4.11 EPS. The firm’s revenue for the quarter was up 9.1% on a year-over-year basis. On average, equities analysts anticipate that Parker-Hannifin Co. will post 18.23 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, June 3rd. Shareholders of record on Friday, May 13th were issued a dividend of $ 1.33 per share. The ex-dividend date was Thursday, May 12th. This represents a $ 5.32 dividend on an annualized basis and a yield of 2.25%. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $ 1.03. Parker-Hannifin’s dividend payout ratio is currently 41.14%.
Parker-Hannifin Profile: (Get Rating)
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 Company’s 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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