CCM Investment Advisers LLC trimmed its holdings in Parker-Hannifin Corp (NYSE:PH) by 97.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,195 shares of the industrial products company’s stock after selling 40,588 shares during the period. CCM Investment Advisers LLC’s holdings in Parker-Hannifin were worth $205,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors have also added to or reduced their stakes in PH. Dubuque Bank & Trust Co. raised its holdings in shares of Parker-Hannifin by 97.5% in the first quarter. Dubuque Bank & Trust Co. now owns 158 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 78 shares during the last quarter. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Parker-Hannifin in the fourth quarter valued at about $26,000. First Mercantile Trust Co. raised its holdings in shares of Parker-Hannifin by 58.3% in the fourth quarter. First Mercantile Trust Co. now owns 190 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 70 shares during the last quarter. Gemmer Asset Management LLC raised its holdings in shares of Parker-Hannifin by 162.3% in the first quarter. Gemmer Asset Management LLC now owns 202 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 125 shares during the last quarter. Finally, Athena Capital Advisors LLC purchased a new stake in shares of Parker-Hannifin in the fourth quarter valued at about $32,000. 81.42% of the stock is currently owned by hedge funds and other institutional investors.
PH has been the subject of several analyst reports. Robert W. Baird set a $180.00 target price on shares of Parker-Hannifin and gave the company a “buy” rating in a report on Saturday, February 2nd. Morgan Stanley set a $179.00 target price on shares of Parker-Hannifin and gave the company a “hold” rating in a report on Friday, May 3rd. Stifel Nicolaus downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating and lowered their target price for the company from $181.00 to $171.00 in a report on Friday, February 1st. Zacks Investment Research downgraded shares of Parker-Hannifin from a “hold” rating to a “sell” rating in a report on Wednesday, January 16th. Finally, Vertical Research downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating and set a $175.00 target price for the company. in a report on Friday, February 1st. Two analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $182.35.
NYSE PH opened at $171.95 on Thursday. Parker-Hannifin Corp has a 52-week low of $140.82 and a 52-week high of $193.19. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.07. The stock has a market cap of $23.27 billion, a P/E ratio of 16.50, a P/E/G ratio of 1.69 and a beta of 1.46.
Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, May 2nd. The industrial products company reported $3.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.01 by $0.16. Parker-Hannifin had a net margin of 10.04% and a return on equity of 26.27%. The business had revenue of $3.69 billion during the quarter, compared to the consensus estimate of $3.72 billion. During the same quarter last year, the company posted $2.80 earnings per share. The firm’s quarterly revenue was down 1.7% compared to the same quarter last year. On average, equities research analysts anticipate that Parker-Hannifin Corp will post 11.65 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Investors of record on Friday, May 10th will be issued a dividend of $0.88 per share. This represents a $3.52 dividend on an annualized basis and a yield of 2.05%. The ex-dividend date is Thursday, May 9th. This is an increase from Parker-Hannifin’s previous quarterly dividend of $0.76. Parker-Hannifin’s dividend payout ratio (DPR) is 29.17%.
In other news, VP Roger S. Sherrard sold 2,040 shares of Parker-Hannifin stock in a transaction dated Thursday, March 14th. The shares were sold at an average price of $171.80, for a total value of $350,472.00. Following the completion of the transaction, the vice president now owns 62,620 shares in the company, valued at $10,758,116. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Andrew M. Weeks sold 4,520 shares of Parker-Hannifin stock in a transaction dated Thursday, February 28th. The stock was sold at an average price of $176.70, for a total transaction of $798,684.00. The disclosure for this sale can be found here. Insiders have sold 9,519 shares of company stock valued at $1,664,040 in the last 90 days. 1.12% of the stock is currently owned by corporate insiders.
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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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