Parker-Hannifin Corp (PH) Shares Bought by Dynamic Technology Lab Private Ltd
Dynamic Technology Lab Private Ltd increased its stake in shares of Parker-Hannifin Corp (NYSE:PH) by 74.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,882 shares of the industrial products company’s stock after buying an additional 3,792 shares during the quarter. Dynamic Technology Lab Private Ltd’s holdings in Parker-Hannifin were worth $1,634,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds also recently made changes to their positions in PH. Vulcan Value Partners LLC lifted its position in Parker-Hannifin by 97.5% during the second quarter. Vulcan Value Partners LLC now owns 3,178,193 shares of the industrial products company’s stock valued at $495,321,000 after purchasing an additional 1,569,099 shares during the period. Charles Schwab Investment Advisory Inc. acquired a new position in Parker-Hannifin during the second quarter valued at $214,250,000. Janus Henderson Group PLC raised its position in shares of Parker-Hannifin by 27.5% in the second quarter. Janus Henderson Group PLC now owns 2,541,885 shares of the industrial products company’s stock worth $396,154,000 after acquiring an additional 548,399 shares during the period. Millennium Management LLC raised its position in shares of Parker-Hannifin by 3,693.0% in the second quarter. Millennium Management LLC now owns 509,140 shares of the industrial products company’s stock worth $79,349,000 after acquiring an additional 495,717 shares during the period. Finally, Robeco Institutional Asset Management B.V. raised its position in shares of Parker-Hannifin by 3,349.8% in the third quarter. Robeco Institutional Asset Management B.V. now owns 383,413 shares of the industrial products company’s stock worth $70,521,000 after acquiring an additional 372,299 shares during the period. 79.67% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts have weighed in on PH shares. Argus downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating and set a $176.00 price objective for the company. in a research report on Tuesday, August 14th. Cowen cut shares of Parker-Hannifin from a “market perform” rating to an “underperform” rating in a research note on Monday, October 15th. Buckingham Research raised shares of Parker-Hannifin from a “neutral” rating to a “buy” rating in a research note on Friday, September 14th. Wells Fargo & Co raised shares of Parker-Hannifin from a “market perform” rating to an “outperform” rating and set a $193.00 target price for the company in a research note on Friday, November 2nd. Finally, Morgan Stanley assumed coverage on shares of Parker-Hannifin in a research note on Monday, August 20th. They set an “equal weight” rating and a $185.00 target price for the company. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and ten have assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $186.72.
Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, November 1st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.53 by $0.31. Parker-Hannifin had a net margin of 7.98% and a return on equity of 25.49%. The company had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.54 billion. During the same quarter in the prior year, the company earned $2.24 EPS. Parker-Hannifin’s revenue was up 3.4% compared to the same quarter last year. As a group, equities analysts forecast that Parker-Hannifin Corp will post 11.61 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 7th. Investors of record on Friday, November 9th were paid a dividend of $0.76 per share. The ex-dividend date was Thursday, November 8th. This represents a $3.04 annualized dividend and a yield of 1.94%. Parker-Hannifin’s dividend payout ratio is presently 29.17%.
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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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