Hotchkis & Wiley Capital Management LLC cut its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 15.1% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,028,795 shares of the industrial products company’s stock after selling 182,700 shares during the quarter. Hotchkis & Wiley Capital Management LLC owned approximately 0.77% of Parker-Hannifin Corporation worth $164,422,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Israel Discount Bank of New York boosted its stake in shares of Parker-Hannifin Corporation by 31.6% in 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. Parallel Advisors LLC lifted its stake in Parker-Hannifin Corporation by 4.1% in the second quarter. Parallel Advisors LLC now owns 612 shares of the industrial products company’s stock valued at $102,000 after purchasing an additional 24 shares during the last quarter. Harbour Capital Advisors LLC purchased a new position in Parker-Hannifin Corporation in the first quarter valued at approximately $112,000. BT Investment Management Ltd purchased a new position in Parker-Hannifin Corporation in the second quarter valued at approximately $124,000. Finally, TrimTabs Asset Management LLC lifted its stake in Parker-Hannifin Corporation by 88.5% in the first quarter. TrimTabs Asset Management LLC now owns 852 shares of the industrial products company’s stock valued at $137,000 after purchasing an additional 400 shares during the last quarter. 80.24% of the stock is currently owned by hedge funds and other institutional investors.
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PH has been the topic of several research analyst reports. Jefferies Group LLC set a $163.00 price objective on Parker-Hannifin Corporation and gave the company a “hold” rating in a research note on Wednesday, June 28th. BidaskClub downgraded Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a research report on Monday, July 24th. Stifel Nicolaus restated a “buy” rating and set a $176.00 target price on shares of Parker-Hannifin Corporation in a research report on Thursday, July 6th. ValuEngine raised shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, June 14th. Finally, Zacks Investment Research cut shares of Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus target price of $174.38.
In related news, VP Joseph R. Leonti sold 408 shares of the business’s stock in a transaction dated Wednesday, September 6th. The shares were sold at an average price of $160.70, for a total value of $65,565.60. Following the sale, the vice president now directly owns 7,318 shares in the company, valued at approximately $1,176,002.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Joseph Scaminace sold 500 shares of the business’s stock in a transaction dated Monday, August 28th. The stock was sold at an average price of $158.35, for a total transaction of $79,175.00. The disclosure for this sale can be found here. Insiders have sold a total of 5,389 shares of company stock valued at $878,913 in the last 90 days. Insiders own 2.73% of the company’s stock.
Shares of Parker-Hannifin Corporation (NYSE:PH) traded up 1.05% during trading on Friday, reaching $169.69. 1,142,292 shares of the company traded hands. The firm has a 50 day moving average of $161.07 and a 200 day moving average of $159.70. The stock has a market capitalization of $22.59 billion, a PE ratio of 23.41 and a beta of 1.41. Parker-Hannifin Corporation has a 52 week low of $118.77 and a 52 week high of $170.67.
Parker-Hannifin Corporation (NYSE:PH) last announced its quarterly earnings results 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. Parker-Hannifin Corporation had a net margin of 8.18% and a return on equity of 22.90%. The business had revenue of $3.50 billion during the quarter, compared to analysts’ expectations of $3.52 billion. During the same period last year, the business earned $1.90 earnings per share. The business’s revenue for the quarter was up 18.2% on a year-over-year basis. On average, equities analysts predict that Parker-Hannifin Corporation will post $9.08 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Monday, August 28th were given a dividend of $0.66 per share. The ex-dividend date was Thursday, August 24th. This represents a $2.64 annualized dividend and a dividend yield of 1.56%. Parker-Hannifin Corporation’s dividend payout ratio is presently 36.51%.
About Parker-Hannifin Corporation
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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