Brandywine Global Investment Management LLC decreased its stake in shares of Parker-Hannifin Co. (NYSE:PH – Free Report) by 2.6% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 81,651 shares of the industrial products company’s stock after selling 2,209 shares during the period. Brandywine Global Investment Management LLC owned 0.06% of Parker-Hannifin worth $27,444,000 at the end of the most recent reporting period.
Other large investors also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Parker-Hannifin in the 4th quarter valued at about $519,286,000. FMR LLC lifted its position in Parker-Hannifin by 55.0% during the first quarter. FMR LLC now owns 3,208,980 shares of the industrial products company’s stock valued at $1,078,570,000 after buying an additional 1,138,583 shares in the last quarter. Ameriprise Financial Inc. grew its stake in Parker-Hannifin by 16.0% during the first quarter. Ameriprise Financial Inc. now owns 3,702,940 shares of the industrial products company’s stock worth $1,244,593,000 after buying an additional 511,658 shares during the period. Baird Financial Group Inc. increased its position in shares of Parker-Hannifin by 1,273.0% in the fourth quarter. Baird Financial Group Inc. now owns 524,354 shares of the industrial products company’s stock worth $152,587,000 after acquiring an additional 486,163 shares in the last quarter. Finally, Great Lakes Advisors LLC purchased a new position in shares of Parker-Hannifin in the 1st quarter valued at $104,039,000. Hedge funds and other institutional investors own 82.25% of the company’s stock.
Wall Street Analyst Weigh In
Several equities research analysts recently commented on PH shares. Stifel Nicolaus raised their target price on Parker-Hannifin from $383.00 to $446.00 in a report on Friday, July 14th. Citigroup upped their target price on shares of Parker-Hannifin from $370.00 to $425.00 and gave the company a “neutral” rating in a research note on Tuesday, July 18th. Bank of America lifted their price target on shares of Parker-Hannifin from $395.00 to $435.00 in a research note on Friday, July 14th. KeyCorp upped their price objective on shares of Parker-Hannifin from $450.00 to $460.00 and gave the company an “overweight” rating in a research report on Friday, August 4th. Finally, Wells Fargo & Company lifted their target price on Parker-Hannifin from $380.00 to $425.00 in a research report on Monday, July 10th. Five research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $434.57.
Insider Buying and Selling at Parker-Hannifin
In other news, CFO Todd M. Leombruno sold 5,002 shares of the company’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $416.11, for a total transaction of $2,081,382.22. Following the completion of the sale, the chief financial officer now directly owns 11,656 shares of the company’s stock, valued at $4,850,178.16. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CFO Todd M. Leombruno sold 5,002 shares of the company’s stock in a transaction on Tuesday, August 29th. The stock was sold at an average price of $416.11, for a total transaction of $2,081,382.22. Following the transaction, the chief financial officer now directly owns 11,656 shares of the company’s stock, valued at $4,850,178.16. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Berend Bracht sold 863 shares of the company’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $419.47, for a total value of $362,002.61. Following the completion of the transaction, the vice president now owns 2,700 shares in the company, valued at approximately $1,132,569. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 11,258 shares of company stock valued at $4,705,435. Corporate insiders own 1.37% of the company’s stock.
Parker-Hannifin Stock Performance
Shares of PH traded down $3.86 during trading hours on Wednesday, reaching $401.52. 142,965 shares of the company’s stock traded hands, compared to its average volume of 836,185. The firm has a market capitalization of $51.57 billion, a price-to-earnings ratio of 25.34, a P/E/G ratio of 1.53 and a beta of 1.52. The business’s fifty day simple moving average is $405.60 and its two-hundred day simple moving average is $362.42. Parker-Hannifin Co. has a twelve month low of $235.69 and a twelve month high of $428.16. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.88 and a quick ratio of 0.51.
Parker-Hannifin (NYSE:PH – Get Free Report) last announced its earnings results on Thursday, August 3rd. The industrial products company reported $6.08 EPS for the quarter, topping the consensus estimate of $5.48 by $0.60. The firm had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $5.01 billion. Parker-Hannifin had a return on equity of 29.26% and a net margin of 10.93%. The firm’s quarterly revenue was up 21.7% compared to the same quarter last year. During the same quarter in the previous year, the company earned $5.16 earnings per share. Analysts predict that Parker-Hannifin Co. will post 22.65 earnings per share for the current year.
Parker-Hannifin Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Monday, August 28th were paid a dividend of $1.48 per share. This represents a $5.92 annualized dividend and a yield of 1.47%. The ex-dividend date of this dividend was Friday, August 25th. Parker-Hannifin’s dividend payout ratio is presently 37.00%.
Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.
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