Hotchkis & Wiley Capital Management LLC trimmed its stake in Parker-Hannifin Corporation (NYSE:PH) by 15.1% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,028,795 shares of the industrial products company’s stock after selling 182,700 shares during the period. Hotchkis & Wiley Capital Management LLC owned about 0.77% of Parker-Hannifin Corporation worth $164,422,000 as of its most recent filing with the SEC.
Other hedge funds have also made changes to their positions in the company. Parallel Advisors LLC grew its holdings in shares of 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 in the last quarter. Israel Discount Bank of New York grew its holdings 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 acquiring an additional 150 shares in the last quarter. Harbour Capital Advisors LLC acquired a new position in Parker-Hannifin Corporation during the 1st quarter worth approximately $112,000. BT Investment Management Ltd acquired a new position in Parker-Hannifin Corporation during the 2nd quarter worth approximately $124,000. Finally, TrimTabs Asset Management LLC grew its holdings 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 acquiring an additional 400 shares in the last quarter. Hedge funds and other institutional investors own 79.72% of the company’s stock.
Several research analysts have commented on the stock. BidaskClub cut shares of Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a report on Monday, July 24th. Stifel Nicolaus restated a “buy” rating and issued a $189.00 target price on shares of Parker-Hannifin Corporation in a report on Friday, July 14th. ValuEngine upgraded shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, June 14th. Credit Suisse Group set a $189.00 target price on shares of Parker-Hannifin Corporation and gave the company a “buy” rating in a report on Sunday, May 28th. Finally, Jefferies Group LLC set a $163.00 target price on shares of Parker-Hannifin Corporation and gave the company a “hold” rating in a report on Wednesday, June 28th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and sixteen have assigned a buy rating to the company. Parker-Hannifin Corporation has a consensus rating of “Buy” and an average target price of $174.38.
Shares of Parker-Hannifin Corporation (NYSE PH) traded up 0.68% during trading on Friday, reaching $177.11. 741,637 shares of the company’s stock were exchanged. Parker-Hannifin Corporation has a 52 week low of $118.77 and a 52 week high of $177.61. The stock has a market capitalization of $23.58 billion, a PE ratio of 24.43 and a beta of 1.41. The company’s 50-day moving average is $161.62 and its 200 day moving average is $160.00.
Parker-Hannifin Corporation (NYSE:PH) last posted its earnings results on Thursday, August 3rd. The industrial products company reported $2.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.31 by $0.14. The company had revenue of $3.50 billion for 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%. The firm’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same period last year, the business posted $1.90 earnings per share. On average, analysts forecast that Parker-Hannifin Corporation will post $9.08 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, September 8th. Shareholders of record on Monday, August 28th were paid a $0.66 dividend. This represents a $2.64 dividend on an annualized basis and a yield of 1.49%. The ex-dividend date of this dividend was Thursday, August 24th. Parker-Hannifin Corporation’s payout ratio is 36.51%.
In related news, Director Candy M. Obourn sold 1,241 shares of Parker-Hannifin Corporation stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $161.46, for a total transaction of $200,371.86. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Martin C. Maxwell sold 2,640 shares of Parker-Hannifin Corporation stock in a transaction dated Tuesday, September 12th. The shares were sold at an average price of $165.67, for a total transaction of $437,368.80. Following the sale, the vice president now owns 31,718 shares in the company, valued at $5,254,721.06. The disclosure for this sale can be found here. Insiders sold 5,389 shares of company stock worth $878,913 over the last quarter. 2.73% of the stock is currently owned by company insiders.
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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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