Parker-Hannifin Corporation (PH) Stake Lessened by Citizens Financial Group Inc RI
Citizens Financial Group Inc RI reduced its position in shares of Parker-Hannifin Corporation (NYSE:PH) by 1.0% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,729 shares of the industrial products company’s stock after selling 438 shares during the quarter. Citizens Financial Group Inc RI’s holdings in Parker-Hannifin Corporation were worth $7,149,000 as of its most recent SEC filing.
Other hedge funds have also recently bought and sold shares of the company. Israel Discount Bank of New York raised its position in shares of Parker-Hannifin Corporation by 31.6% during the 2nd quarter. Israel Discount Bank of New York now owns 625 shares of the industrial products company’s stock worth $100,000 after purchasing an additional 150 shares during the last quarter. Parallel Advisors LLC raised its position in shares of Parker-Hannifin Corporation by 4.1% during the 2nd quarter. Parallel Advisors LLC now owns 612 shares of the industrial products company’s stock worth $102,000 after purchasing an additional 24 shares during the last quarter. Harbour Capital Advisors LLC acquired a new position in shares of Parker-Hannifin Corporation during the 1st quarter worth about $112,000. TrimTabs Asset Management LLC raised its position in shares of Parker-Hannifin Corporation by 88.5% during the 1st quarter. TrimTabs Asset Management LLC now owns 852 shares of the industrial products company’s stock worth $137,000 after purchasing an additional 400 shares during the last quarter. Finally, FNY Partners Fund LP acquired a new position in shares of Parker-Hannifin Corporation during the 1st quarter worth about $160,000. 80.24% of the stock is currently owned by institutional investors and hedge funds.
Shares of Parker-Hannifin Corporation (PH) traded up 0.14% during mid-day trading on Tuesday, hitting $165.32. 305,443 shares of the stock were exchanged. The stock has a market cap of $22.01 billion, a PE ratio of 22.80 and a beta of 1.41. The company has a 50-day moving average of $160.57 and a 200 day moving average of $159.36. Parker-Hannifin Corporation has a one year low of $118.77 and a one year high of $167.50.
Parker-Hannifin Corporation (NYSE:PH) last posted its quarterly earnings data on Thursday, August 3rd. The industrial products company reported $2.45 earnings per share for the quarter, beating analysts’ consensus estimates of $2.31 by $0.14. The business had revenue of $3.50 billion during the quarter, compared to analyst estimates of $3.52 billion. Parker-Hannifin Corporation had a net margin of 8.18% and a return on equity of 22.90%. The company’s revenue was up 18.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.90 earnings per share. On average, equities analysts predict that Parker-Hannifin Corporation will post $9.08 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Monday, August 28th were given a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.60%. The ex-dividend date was Thursday, August 24th. Parker-Hannifin Corporation’s dividend payout ratio is presently 36.51%.
In other news, VP Joseph R. Leonti sold 408 shares of the business’s stock in a transaction that occurred on Wednesday, September 6th. The shares were sold at an average price of $160.70, for a total value of $65,565.60. Following the completion of the transaction, the vice president now owns 7,318 shares of the company’s stock, valued at $1,176,002.60. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Candy M. Obourn sold 1,241 shares of the business’s stock in a transaction that occurred on Friday, September 8th. The shares were sold at an average price of $161.46, for a total transaction of $200,371.86. The disclosure for this sale can be found here. In the last three months, insiders sold 2,749 shares of company stock valued at $441,544. Company insiders own 2.73% of the company’s stock.
Several research analysts recently weighed in on the stock. Wolfe Research assumed coverage on shares of Parker-Hannifin Corporation in a research report on Tuesday, July 11th. They set an “outperform” rating and a $182.00 price target for the company. Credit Suisse Group set a $189.00 price target on shares of Parker-Hannifin Corporation and gave the stock a “buy” rating in a research report on Sunday, May 28th. BidaskClub upgraded shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, June 21st. Robert W. Baird set a $163.00 price target on shares of Parker-Hannifin Corporation and gave the stock a “hold” rating in a research report on Thursday, August 24th. Finally, ValuEngine upgraded shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have given a buy rating to the company’s stock. Parker-Hannifin Corporation currently has a consensus rating of “Buy” and an average target price of $172.06.
Parker-Hannifin Corporation Profile
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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