Parker-Hannifin Corporation (PH) Stake Decreased by Sentry Investment Management LLC

Sentry Investment Management LLC lowered its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 3.8% during the first quarter, Holdings Channel reports. The fund owned 33,799 shares of the industrial products company’s stock after selling 1,322 shares during the period. Sentry Investment Management LLC’s holdings in Parker-Hannifin Corporation were worth $5,419,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Quadrant Capital Group LLC raised its stake in Parker-Hannifin Corporation by 4.6% in the first quarter. Quadrant Capital Group LLC now owns 844 shares of the industrial products company’s stock valued at $131,000 after buying an additional 37 shares during the last quarter. TrimTabs Asset Management LLC raised its stake in Parker-Hannifin Corporation by 88.5% in the first quarter. TrimTabs Asset Management LLC now owns 852 shares of the industrial products company’s stock valued at $137,000 after buying an additional 400 shares during the last quarter. Bronfman E.L. Rothschild L.P. raised its stake in Parker-Hannifin Corporation by 5.0% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,291 shares of the industrial products company’s stock valued at $207,000 after buying an additional 62 shares during the last quarter. Checchi Capital Advisers LLC purchased a new stake in Parker-Hannifin Corporation during the first quarter valued at approximately $213,000. Finally, IPG Investment Advisors LLC purchased a new stake in Parker-Hannifin Corporation during the first quarter valued at approximately $217,000. 80.53% of the stock is owned by institutional investors and hedge funds.

Institutional Ownership by Quarter for Parker-Hannifin Corporation (NYSE:PH)

Shares of Parker-Hannifin Corporation (NYSE PH) traded down 0.45% during trading on Tuesday, reaching $163.61. 381,412 shares of the company traded hands. The company has a market capitalization of $21.79 billion, a price-to-earnings ratio of 23.84 and a beta of 1.32. Parker-Hannifin Corporation has a 1-year low of $99.10 and a 1-year high of $166.60. The stock’s 50 day moving average is $158.06 and its 200 day moving average is $153.03.

Parker-Hannifin Corporation (NYSE:PH) last released its quarterly earnings results on Thursday, April 27th. The industrial products company reported $2.11 EPS for the quarter, topping the consensus estimate of $1.86 by $0.25. The company had revenue of $3.12 billion for the quarter, compared to analyst estimates of $3.03 billion. Parker-Hannifin Corporation had a return on equity of 22.14% and a net margin of 8.11%. The firm’s revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.51 earnings per share. On average, analysts forecast that Parker-Hannifin Corporation will post $7.91 EPS for the current year.

The company also recently declared a quarterly dividend, which was paid on Friday, June 2nd. Shareholders of record on Wednesday, May 10th were given a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a yield of 1.61%. The ex-dividend date was Monday, May 8th. Parker-Hannifin Corporation’s dividend payout ratio (DPR) is 38.54%.

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Several research firms have commented on PH. Credit Suisse Group set a $189.00 price target on shares of Parker-Hannifin Corporation and gave the company a “buy” rating in a research report on Sunday, April 30th. Barclays PLC set a $162.00 price target on shares of Parker-Hannifin Corporation and gave the company a “hold” rating in a research report on Sunday, April 30th. ValuEngine raised shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a research report on Wednesday, June 14th. Goldman Sachs Group, Inc. (The) began coverage on shares of Parker-Hannifin Corporation in a research report on Monday, March 13th. They set a “buy” rating and a $180.00 price target for the company. Finally, Zacks Investment Research upgraded shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating and set a $180.00 price objective on the stock in a report on Monday, April 10th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seventeen have issued a buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $160.00.

In other Parker-Hannifin Corporation news, VP John G. Dedinsky, Jr. sold 2,530 shares of Parker-Hannifin Corporation stock in a transaction that occurred on Friday, June 2nd. The stock was sold at an average price of $160.98, for a total transaction of $407,279.40. Following the transaction, the vice president now owns 21,753 shares of the company’s stock, valued at $3,501,797.94. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, VP William R. Bowman sold 2,900 shares of Parker-Hannifin Corporation stock in a transaction that occurred on Thursday, May 11th. The stock was sold at an average price of $158.92, for a total value of $460,868.00. Following the transaction, the vice president now directly owns 1,172 shares in the company, valued at approximately $186,254.24. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 39,998 shares of company stock worth $6,420,980. 2.73% of the stock is currently owned by corporate insiders.

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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