New York State Common Retirement Fund Acquires 399 Shares of Parker-Hannifin Corporation (PH)
New York State Common Retirement Fund boosted its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 0.1% in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 310,529 shares of the industrial products company’s stock after buying an additional 399 shares during the quarter. New York State Common Retirement Fund owned 0.23% of Parker-Hannifin Corporation worth $49,629,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also bought and sold shares of the company. Parallel Advisors LLC raised its position in 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 buying an additional 24 shares during the last quarter. Israel Discount Bank of New York raised its position in 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 buying an additional 150 shares during the last quarter. Harbour Capital Advisors LLC purchased a new position in Parker-Hannifin Corporation during the 1st quarter worth approximately $112,000. BT Investment Management Ltd purchased a new position in Parker-Hannifin Corporation during the 2nd quarter worth approximately $124,000. Finally, TrimTabs Asset Management LLC raised its position in 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 buying an additional 400 shares during the last quarter. 79.72% of the stock is owned by institutional investors.
Shares of Parker-Hannifin Corporation (PH) opened at 175.91 on Friday. The company has a 50-day moving average of $161.62 and a 200-day moving average of $160.00. The firm has a market cap of $23.42 billion, a PE ratio of 24.26 and a beta of 1.41. Parker-Hannifin Corporation has a 1-year low of $118.77 and a 1-year high of $176.84.
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, topping the Thomson Reuters’ consensus estimate of $2.31 by $0.14. The firm had revenue of $3.50 billion during the quarter, compared to analysts’ expectations of $3.52 billion. Parker-Hannifin Corporation had a return on equity of 22.90% and a net margin of 8.18%. Parker-Hannifin Corporation’s revenue was up 18.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.90 earnings per share. Analysts predict that Parker-Hannifin Corporation will post $9.08 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Monday, August 28th were given a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 1.50%. The ex-dividend date of this dividend was Thursday, August 24th. Parker-Hannifin Corporation’s payout ratio is 36.51%.
In other Parker-Hannifin Corporation news, Director Joseph Scaminace sold 500 shares of the stock in a transaction on Monday, August 28th. The stock was sold at an average price of $158.35, for a total value of $79,175.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Joseph R. Leonti sold 408 shares of the stock in a transaction on Wednesday, September 6th. The stock was 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 approximately $1,176,002.60. The disclosure for this sale can be found here. Insiders sold 5,389 shares of company stock valued at $878,913 in the last quarter. 2.73% of the stock is currently owned by company insiders.
A number of research firms have issued reports on PH. Jefferies Group LLC reissued a “hold” rating and set a $165.00 price target (up from $163.00) on shares of Parker-Hannifin Corporation in a research report on Wednesday, August 9th. Zacks Investment Research lowered shares of Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, August 8th. KeyCorp reissued an “overweight” rating and set a $185.00 price target on shares of Parker-Hannifin Corporation in a research report on Saturday, September 16th. 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. Finally, BidaskClub lowered shares of Parker-Hannifin Corporation from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. One equities research 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. The stock currently has an average rating of “Buy” and an average target price of $174.38.
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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