Scotia Capital Inc. grew its position in shares of Parker-Hannifin Corp (NYSE:PH) by 11.7% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,804 shares of the industrial products company’s stock after purchasing an additional 504 shares during the period. Scotia Capital Inc.’s holdings in Parker-Hannifin were worth $959,000 at the end of the most recent reporting period.
A number of other hedge funds have also recently modified their holdings of the business. Stratos Wealth Partners LTD. lifted its stake in Parker-Hannifin by 5.5% during the third quarter. Stratos Wealth Partners LTD. now owns 5,407 shares of the industrial products company’s stock worth $946,000 after purchasing an additional 280 shares during the last quarter. Bank of Stockton increased its holdings in shares of Parker-Hannifin by 3.3% in the third quarter. Bank of Stockton now owns 8,763 shares of the industrial products company’s stock worth $1,533,000 after buying an additional 281 shares during the period. Sentry Investment Management LLC increased its holdings in shares of Parker-Hannifin by 0.8% in the fourth quarter. Sentry Investment Management LLC now owns 34,739 shares of the industrial products company’s stock worth $6,933,000 after buying an additional 282 shares during the period. QCI Asset Management Inc. NY increased its holdings in shares of Parker-Hannifin by 0.4% in the third quarter. QCI Asset Management Inc. NY now owns 79,660 shares of the industrial products company’s stock worth $13,942,000 after buying an additional 297 shares during the period. Finally, Pacer Advisors Inc. increased its holdings in shares of Parker-Hannifin by 10.1% in the third quarter. Pacer Advisors Inc. now owns 3,412 shares of the industrial products company’s stock worth $597,000 after buying an additional 312 shares during the period. 78.96% of the stock is owned by hedge funds and other institutional investors.
In other Parker-Hannifin news, Director Joseph Scaminace sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $184.97, for a total transaction of $184,970.00. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 1.12% of the stock is currently owned by corporate insiders.
Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, February 1st. The industrial products company reported $2.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.07 by $0.08. Parker-Hannifin had a return on equity of 23.15% and a net margin of 6.54%. The company had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter in the previous year, the business earned $1.91 EPS. Parker-Hannifin’s revenue was up 26.2% compared to the same quarter last year. equities analysts forecast that Parker-Hannifin Corp will post 9.97 earnings per share for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, March 2nd. Shareholders 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 dividend on an annualized basis and a dividend yield of 1.41%. Parker-Hannifin’s dividend payout ratio (DPR) is 30.91%.
Several research firms have recently commented on PH. Citigroup lifted their price objective on Parker-Hannifin from $195.00 to $220.00 and gave the stock a “neutral” rating in a report on Tuesday, January 30th. Robert W. Baird upgraded Parker-Hannifin from a “neutral” rating to an “outperform” rating and set a $203.00 price objective on the stock in a report on Thursday. Zacks Investment Research downgraded Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Wednesday, January 31st. Deutsche Bank lifted their price objective on Parker-Hannifin to $200.00 and gave the stock a “buy” rating in a report on Monday, November 20th. Finally, Cowen reiterated a “hold” rating and issued a $180.00 price objective on shares of Parker-Hannifin in a report on Wednesday, January 10th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $201.41.
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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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