O Shaughnessy Asset Management LLC decreased its stake in shares of Parker Hannifin (NYSE:PH) by 15.4% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,994 shares of the industrial products company’s stock after selling 362 shares during the quarter. O Shaughnessy Asset Management LLC’s holdings in Parker Hannifin were worth $341,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. San Francisco Sentry Investment Group CA grew its position in shares of Parker Hannifin by 139.3% during the 4th quarter. San Francisco Sentry Investment Group CA now owns 579 shares of the industrial products company’s stock worth $116,000 after buying an additional 337 shares during the period. SeaCrest Wealth Management LLC acquired a new stake in shares of Parker Hannifin during the 4th quarter worth approximately $197,000. Wagner Wealth Management LLC acquired a new stake in shares of Parker Hannifin during the 4th quarter worth approximately $198,000. Chemical Bank acquired a new stake in shares of Parker Hannifin during the 4th quarter worth approximately $206,000. Finally, Ballentine Partners LLC acquired a new stake in shares of Parker Hannifin during the 4th quarter worth approximately $211,000. 80.17% of the stock is owned by institutional investors.
Parker Hannifin opened at $179.09 on Friday, according to MarketBeat.com. The company has a debt-to-equity ratio of 0.82, a current ratio of 1.59 and a quick ratio of 1.09. Parker Hannifin has a 12-month low of $152.01 and a 12-month high of $212.80. The firm has a market capitalization of $23.81 billion, a P/E ratio of 18.58, a price-to-earnings-growth ratio of 1.53 and a beta of 1.44.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, June 1st. Shareholders of record on Thursday, May 10th will be paid a dividend of $0.76 per share. The ex-dividend date is Wednesday, May 9th. This is a boost from Parker Hannifin’s previous quarterly dividend of $0.66. This represents a $3.04 annualized dividend and a yield of 1.70%. Parker Hannifin’s dividend payout ratio (DPR) is 37.48%.
In other Parker Hannifin news, Director Joseph Scaminace sold 1,149 shares of the firm’s stock in a transaction on 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 directly owns 14,189 shares in the company, valued at approximately $2,614,181.36. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Candy M. Obourn sold 1,825 shares of the firm’s stock in a transaction on Monday, April 30th. The shares were sold at an average price of $164.93, for a total value of $300,997.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 8,683 shares of company stock worth $1,508,854. Company insiders own 1.12% of the company’s stock.
PH has been the subject of several research reports. Zacks Investment Research downgraded shares of Parker Hannifin from a “buy” rating to a “hold” rating in a research report on Wednesday, January 31st. JPMorgan Chase reduced their price target on shares of Parker Hannifin from $210.00 to $199.00 and set an “overweight” rating for the company in a research report on Tuesday, April 10th. Wells Fargo reissued a “hold” rating and issued a $200.00 price target (down previously from $235.00) on shares of Parker Hannifin in a research report on Thursday, March 8th. Citigroup lifted their price target on shares of Parker Hannifin from $195.00 to $220.00 and gave the company a “neutral” rating in a research report on Tuesday, January 30th. Finally, Robert W. Baird raised shares of Parker Hannifin from a “neutral” rating to an “outperform” rating and set a $203.00 price target for the company in a research report on Thursday, March 8th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $200.40.
About Parker Hannifin
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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