Highlander Capital Management LLC reduced its holdings in Parker-Hannifin Corp (NYSE:PH) by 46.7% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 3,425 shares of the industrial products company’s stock after selling 3,000 shares during the quarter. Highlander Capital Management LLC’s holdings in Parker-Hannifin were worth $599,000 as of its most recent filing with the SEC.
Other large investors have also modified their holdings of the company. Israel Discount Bank of New York grew its position in shares of Parker-Hannifin by 31.6% in the second quarter. Israel Discount Bank of New York now owns 625 shares of the industrial products company’s stock valued at $100,000 after purchasing an additional 150 shares during the last quarter. Parallel Advisors LLC grew its position in Parker-Hannifin by 4.1% during the second quarter. Parallel Advisors LLC now owns 612 shares of the industrial products company’s stock worth $102,000 after buying an additional 24 shares in the last quarter. IHT Wealth Management LLC grew its position in Parker-Hannifin by 20.8% during the second 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 in the last quarter. BT Investment Management Ltd acquired a new stake in Parker-Hannifin during the second quarter worth about $124,000. Finally, Sun Life Financial INC grew its position in Parker-Hannifin by 8,108.3% during the second 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 in the last quarter. 78.24% of the stock is currently owned by institutional investors.
In other news, COO Lee C. Banks sold 5,286 shares of Parker-Hannifin stock in a transaction that occurred on Friday, November 3rd. The shares were sold at an average price of $186.38, for a total value of $985,204.68. Following the completion of the transaction, the chief operating officer now owns 112,808 shares in the company, valued at $21,025,155.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Andrew D. Ross sold 2,056 shares of Parker-Hannifin stock in a transaction that occurred on Friday, December 8th. The shares were sold at an average price of $192.14, for a total transaction of $395,039.84. Following the completion of the transaction, the vice president now owns 5,207 shares of the company’s stock, valued at approximately $1,000,472.98. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 22,495 shares of company stock valued at $4,127,941. Corporate insiders own 1.12% of the company’s stock.
Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, November 2nd. The industrial products company reported $2.24 EPS for the quarter, topping analysts’ consensus estimates of $2.02 by $0.22. The firm had revenue of $3.36 billion during the quarter, compared to analysts’ expectations of $3.31 billion. Parker-Hannifin had a net margin of 8.37% and a return on equity of 23.61%. The company’s revenue for the quarter was up 22.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.61 earnings per share. analysts expect that Parker-Hannifin Corp will post 9.56 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 10th were paid a dividend of $0.66 per share. This represents a $2.64 dividend on an annualized basis and a yield of 1.38%. The ex-dividend date of this dividend was Thursday, November 9th. Parker-Hannifin’s dividend payout ratio is 33.93%.
A number of equities research analysts recently weighed in on the company. ValuEngine downgraded Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Friday, December 1st. Buckingham Research lifted their target price on Parker-Hannifin from $205.00 to $210.00 and gave the stock a “buy” rating in a research report on Friday, November 3rd. Credit Suisse Group lifted their target price on Parker-Hannifin from $205.00 to $206.00 and gave the stock an “outperform” rating in a research report on Friday, November 3rd. Robert W. Baird lifted their target price on Parker-Hannifin from $183.00 to $194.00 and gave the stock a “neutral” rating in a research report on Friday, November 3rd. Finally, Jefferies Group lifted their target price on Parker-Hannifin from $175.00 to $185.00 and gave the stock a “hold” rating in a research report on Friday, November 3rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $188.95.
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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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