RE Advisers Corp held its stake in Parker-Hannifin Corporation (NYSE:PH) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,054,781 shares of the industrial products company’s stock at the end of the second quarter. Parker-Hannifin Corporation comprises approximately 2.6% of RE Advisers Corp’s investment portfolio, making the stock its 6th largest position. RE Advisers Corp owned approximately 0.79% of Parker-Hannifin Corporation worth $168,575,000 as of its most recent filing with the SEC.
Other hedge funds also recently bought and sold shares of the company. Harbour Capital Advisors LLC acquired a new stake in shares of Parker-Hannifin Corporation during the first quarter valued at approximately $112,000. Quadrant Capital Group LLC raised 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 raised 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 acquired a new stake in shares of Parker-Hannifin Corporation during the first quarter valued at approximately $160,000. Finally, Independent Portfolio Consultants Inc. raised 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 (NYSE 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 capitalization of $20.68 billion, a price-to-earnings ratio of 21.40 and a beta of 1.40. The company has a 50 day moving average of $162.38 and a 200-day moving average of $158.39. Parker-Hannifin Corporation has a 52 week low of $118.77 and a 52 week high of $167.50.
Parker-Hannifin Corporation (NYSE:PH) last issued its quarterly earnings results on Thursday, August 3rd. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.31 by $0.14. Parker-Hannifin Corporation had a net margin of 8.18% and a return on equity of 22.90%. The business 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 business posted $1.90 earnings per share. The business’s revenue was up 18.2% compared to the same quarter last year. Equities research analysts predict that Parker-Hannifin Corporation will post $9.07 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, September 8th. Stockholders of record on Monday, August 28th will be paid a dividend of $0.66 per share. The ex-dividend date of this dividend 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 dividend payout ratio (DPR) is 36.51%.
Several brokerages have recently commented on PH. Credit Suisse Group set a $189.00 price objective on Parker-Hannifin Corporation and gave the company a “buy” rating in a report on Sunday, April 30th. Barclays PLC set a $162.00 price objective on Parker-Hannifin Corporation and gave the company a “hold” rating in a report on Sunday, April 30th. Zacks Investment Research lowered Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Jefferies Group LLC reiterated a “hold” rating and set a $165.00 price objective (up previously from $163.00) on shares of Parker-Hannifin Corporation in a report on Wednesday, August 9th. Finally, BidaskClub downgraded Parker-Hannifin Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. One analyst has rated the stock with a sell rating, four have issued a hold rating and sixteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $168.69.
In other news, VP Martin C. Maxwell sold 2,850 shares of the business’s stock in a transaction dated Thursday, May 25th. The shares were sold at an average price of $160.08, for a total transaction of $456,228.00. Following the transaction, the vice president now directly owns 21,968 shares in the company, valued at $3,516,637.44. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP John G. Dedinsky, Jr. sold 2,530 shares of the business’s 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 transaction, the vice president now owns 21,753 shares in the company, valued at $3,501,797.94. 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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