Cornerstone Capital Management Holdings LLC. raised its stake in shares of Parker-Hannifin Corp (NYSE:PH) by 9.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 25,047 shares of the industrial products company’s stock after buying an additional 2,060 shares during the period. Cornerstone Capital Management Holdings LLC.’s holdings in Parker-Hannifin were worth $4,998,000 as of its most recent SEC filing.
Several other large investors also recently modified their holdings of PH. San Francisco Sentry Investment Group CA lifted its stake in shares of Parker-Hannifin by 139.3% in the 4th quarter. San Francisco Sentry Investment Group CA now owns 579 shares of the industrial products company’s stock valued at $116,000 after purchasing an additional 337 shares during the last quarter. Steward Partners Investment Advisory LLC acquired a new stake in shares of Parker-Hannifin in the 3rd quarter valued at $168,000. SeaCrest Wealth Management LLC acquired a new stake in shares of Parker-Hannifin in the 4th quarter valued at $197,000. Tiedemann Wealth Management LLC lifted its stake in shares of Parker-Hannifin by 95.6% in the 3rd quarter. Tiedemann Wealth Management LLC now owns 3,050 shares of the industrial products company’s stock valued at $201,000 after purchasing an additional 1,491 shares during the last quarter. Finally, Ballentine Partners LLC acquired a new stake in shares of Parker-Hannifin in the 4th quarter valued at $211,000. 81.62% of the stock is owned by institutional investors.
In other news, VP Roger S. Sherrard sold 2,109 shares of the business’s stock in a transaction dated Tuesday, March 13th. The shares were sold at an average price of $182.12, for a total transaction of $384,091.08. Following the transaction, the vice president now owns 51,865 shares in the company, valued at approximately $9,445,653.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Joseph Scaminace sold 1,149 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $184.24, for a total transaction of $211,691.76. Following the transaction, the director now owns 14,189 shares in the company, valued at approximately $2,614,181.36. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 4,258 shares of company stock worth $780,753. Insiders own 1.12% of the company’s stock.
Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, February 1st. The industrial products company reported $2.15 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.07 by $0.08. The firm had revenue of $3.37 billion during the quarter, compared to analyst estimates of $3.33 billion. Parker-Hannifin had a net margin of 6.54% and a return on equity of 23.15%. The business’s revenue was up 26.2% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.91 EPS. equities analysts expect that Parker-Hannifin Corp will post 9.97 earnings per share for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, March 2nd. Stockholders of record on Friday, February 9th were issued a dividend of $0.66 per share. The ex-dividend date was Thursday, February 8th. This represents a $2.64 annualized dividend and a dividend yield of 1.45%. Parker-Hannifin’s payout ratio is 41.19%.
Several equities research analysts recently issued reports on the stock. Wells Fargo lifted their price objective on shares of Parker-Hannifin from $205.00 to $235.00 and gave the company an “outperform” rating in a research note on Thursday, January 18th. Zacks Investment Research raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating and set a $236.00 price objective for the company in a research note on Thursday, January 18th. Buckingham Research reaffirmed a “neutral” rating and issued a $210.00 price objective on shares of Parker-Hannifin in a research note on Friday, January 19th. They noted that the move was a valuation call. Stifel Nicolaus reaffirmed a “buy” rating and issued a $245.00 price objective (up previously from $218.00) on shares of Parker-Hannifin in a research note on Tuesday, January 16th. Finally, Cowen reaffirmed a “hold” rating and issued a $180.00 price objective on shares of Parker-Hannifin in a research note on Wednesday, January 10th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and eight have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $202.75.
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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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