LS Investment Advisors LLC increased its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 2.9% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 4,094 shares of the industrial products company’s stock after buying an additional 114 shares during the period. LS Investment Advisors LLC’s holdings in Parker-Hannifin Corporation were worth $654,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Harbour Capital Advisors LLC acquired a new position in Parker-Hannifin Corporation during the first quarter worth about $112,000. Quadrant Capital Group LLC increased its stake in shares of Parker-Hannifin Corporation by 4.6% in the first quarter. Quadrant Capital Group LLC now owns 844 shares of the industrial products company’s stock valued at $131,000 after buying an additional 37 shares in the last quarter. TrimTabs Asset Management LLC increased its stake in shares of Parker-Hannifin Corporation by 88.5% in the first quarter. TrimTabs Asset Management LLC now owns 852 shares of the industrial products company’s stock valued at $137,000 after buying an additional 400 shares in the last quarter. FNY Partners Fund LP purchased a new stake in shares of Parker-Hannifin Corporation during the first quarter valued at $160,000. Finally, Independent Portfolio Consultants Inc. increased its stake in shares of Parker-Hannifin Corporation by 74.3% in the second quarter. Independent Portfolio Consultants Inc. now owns 1,124 shares of the industrial products company’s stock valued at $180,000 after buying an additional 479 shares in the last quarter. Institutional investors own 80.66% of the company’s stock.
Shares of Parker-Hannifin Corporation (PH) traded down 0.27% during midday trading on Friday, reaching $155.15. The company’s stock had a trading volume of 867,073 shares. The stock has a market cap of $20.68 billion, a PE ratio of 21.40 and a beta of 1.40. Parker-Hannifin Corporation has a one year low of $118.77 and a one year high of $167.50. The firm has a 50-day moving average of $162.38 and a 200-day moving average of $158.39.
Parker-Hannifin Corporation (NYSE:PH) last released its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.14. Parker-Hannifin Corporation had a return on equity of 22.90% and a net margin of 8.18%. The company had revenue of $3.50 billion for the quarter, compared to analyst estimates of $3.52 billion. During the same period in the previous year, the company posted $1.90 EPS. The firm’s revenue for the quarter was up 18.2% compared to the same quarter last year. On average, analysts forecast that Parker-Hannifin Corporation will post $9.07 EPS for the current year.
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 paid a dividend of $0.66 per share. The ex-dividend date is Thursday, August 24th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.70%. Parker-Hannifin Corporation’s payout ratio is 36.51%.
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Several equities analysts have commented on the stock. Stifel Nicolaus set a $198.00 target price on shares of Parker-Hannifin Corporation and gave the company a “buy” rating in a research note on Friday, August 4th. BidaskClub cut shares of Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Jefferies Group LLC reiterated a “hold” rating and issued a $163.00 target price on shares of Parker-Hannifin Corporation in a report on Thursday, August 3rd. Wolfe Research initiated coverage on shares of Parker-Hannifin Corporation in a report on Tuesday, July 11th. They issued an “outperform” rating and a $182.00 target price for the company. Finally, Zacks Investment Research cut shares of Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have assigned a buy rating to the company’s stock. Parker-Hannifin Corporation has a consensus rating of “Buy” and an average target price of $168.69.
In related news, VP John G. Dedinsky, Jr. sold 2,530 shares of the stock in a transaction dated Friday, June 2nd. The stock was sold at an average price of $160.98, for a total transaction of $407,279.40. Following the completion of the sale, the vice president now directly owns 21,753 shares in the company, valued at approximately $3,501,797.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Martin C. Maxwell sold 2,850 shares of the stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $160.08, for a total value of $456,228.00. Following the sale, the vice president now owns 21,968 shares of the company’s stock, valued at $3,516,637.44. The disclosure for this sale can be found here. Insiders own 2.73% of the company’s stock.
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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