Parker-Hannifin Corp (PH) Holdings Cut by Southport Management L.L.C.
Southport Management L.L.C. decreased its position in shares of Parker-Hannifin Corp (NYSE:PH) by 20.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 14,000 shares of the industrial products company’s stock after selling 3,500 shares during the quarter. Parker-Hannifin comprises approximately 6.5% of Southport Management L.L.C.’s investment portfolio, making the stock its 4th largest position. Southport Management L.L.C.’s holdings in Parker-Hannifin were worth $2,450,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently added to or reduced their stakes in the business. IHT Wealth Management LLC grew its position in shares of Parker-Hannifin by 20.8% during the 2nd quarter. IHT Wealth Management LLC now owns 116 shares of the industrial products company’s stock worth $119,000 after buying an additional 20 shares during the period. Parallel Advisors LLC grew its position in shares of Parker-Hannifin 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 period. Israel Discount Bank of New York grew its position in shares of Parker-Hannifin 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 period. BT Investment Management Ltd acquired a new stake in shares of Parker-Hannifin during the 2nd quarter worth approximately $124,000. Finally, Sun Life Financial INC grew its position in shares of Parker-Hannifin by 8,108.3% during the 2nd quarter. Sun Life Financial INC now owns 985 shares of the industrial products company’s stock worth $157,000 after buying an additional 973 shares during the period. Hedge funds and other institutional investors own 78.24% of the company’s stock.
Several analysts have recently commented on the stock. Morgan Stanley downgraded shares of Parker-Hannifin from an “overweight” rating to an “equal weight” rating and set a $188.00 price objective for the company. in a research report on Monday, October 2nd. KeyCorp reissued an “overweight” rating and issued a $185.00 price target on shares of Parker-Hannifin in a research report on Saturday, September 16th. Zacks Investment Research downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. ValuEngine downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Finally, Buckingham Research lifted their price target on shares of Parker-Hannifin from $205.00 to $210.00 and gave the company a “buy” rating in a research report on Friday, November 3rd. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $188.95.
In other Parker-Hannifin news, VP Martin C. Maxwell sold 2,640 shares of Parker-Hannifin stock in a transaction on Tuesday, September 12th. The shares were sold at an average price of $165.67, for a total transaction of $437,368.80. Following the transaction, the vice president now directly owns 31,718 shares of the company’s stock, valued at approximately $5,254,721.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Linda S. Harty sold 3,491 shares of Parker-Hannifin stock in a transaction on Monday, November 20th. The stock was sold at an average price of $183.30, for a total transaction of $639,900.30. Following the transaction, the director now directly owns 9,727 shares in the company, valued at $1,782,959.10. The disclosure for this sale can be found here. Insiders have sold a total of 24,320 shares of company stock worth $4,370,641 over the last ninety days. Insiders own 1.12% of the company’s stock.
Parker-Hannifin Corp (NYSE PH) traded up $2.02 on Thursday, reaching $186.33. 960,200 shares of the company’s stock were exchanged, compared to its average volume of 992,697. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 0.87. The stock has a market cap of $24,554.90, a P/E ratio of 21.16, a price-to-earnings-growth ratio of 1.66 and a beta of 1.40. Parker-Hannifin Corp has a 1 year low of $139.49 and a 1 year high of $190.00.
Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, November 2nd. The industrial products company reported $2.24 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.02 by $0.22. The firm had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $3.31 billion. Parker-Hannifin had a net margin of 8.37% and a return on equity of 23.61%. The business’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.61 EPS. sell-side analysts forecast that Parker-Hannifin Corp will post 9.56 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 10th were issued a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date was Thursday, November 9th. Parker-Hannifin’s dividend payout ratio is 33.93%.
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Parker-Hannifin Company 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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