BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp grew its stake in shares of Parker-Hannifin Corp (NYSE:PH) by 37.0% in the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 115,166 shares of the industrial products company’s stock after purchasing an additional 31,087 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Parker-Hannifin were worth $22,985,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds also recently modified their holdings of PH. Raymond James Financial Services Advisors Inc. increased its holdings in Parker-Hannifin by 11.6% during the 3rd quarter. Raymond James Financial Services Advisors Inc. now owns 17,281 shares of the industrial products company’s stock worth $3,025,000 after purchasing an additional 1,796 shares in the last quarter. New York State Common Retirement Fund grew its holdings in shares of Parker-Hannifin by 6.4% in the third quarter. New York State Common Retirement Fund now owns 330,379 shares of the industrial products company’s stock valued at $57,823,000 after acquiring an additional 19,850 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its holdings in shares of Parker-Hannifin by 13.0% in the third quarter. Cambridge Investment Research Advisors Inc. now owns 3,753 shares of the industrial products company’s stock valued at $657,000 after acquiring an additional 433 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Parker-Hannifin by 127.4% in the third quarter. SG Americas Securities LLC now owns 8,878 shares of the industrial products company’s stock valued at $1,554,000 after acquiring an additional 41,300 shares in the last quarter. Finally, Macquarie Group Ltd. grew its holdings in shares of Parker-Hannifin by 6.0% in the third quarter. Macquarie Group Ltd. now owns 159,551 shares of the industrial products company’s stock valued at $27,926,000 after acquiring an additional 9,042 shares in the last quarter. 81.62% of the stock is owned by hedge funds and other institutional investors.
PH has been the subject of several recent analyst reports. Zacks Investment Research raised Parker-Hannifin from a “hold” rating to a “buy” rating and set a $236.00 target price for the company in a report on Thursday, January 18th. BMO Capital Markets upped their target price on Parker-Hannifin to $225.00 and gave the company an “outperform” rating in a report on Thursday, January 4th. Wells Fargo reaffirmed a “hold” rating and issued a $200.00 target price (down from $235.00) on shares of Parker-Hannifin in a report on Thursday, March 8th. ValuEngine lowered Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Friday, December 1st. Finally, Buckingham Research reaffirmed a “neutral” rating and issued a $210.00 target price on shares of Parker-Hannifin in a report on Friday, January 19th. They noted that the move was a valuation call. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $202.75.
PH stock opened at $169.24 on Friday. Parker-Hannifin Corp has a 12 month low of $151.17 and a 12 month high of $212.80. The company has a quick ratio of 0.99, a current ratio of 1.49 and a debt-to-equity ratio of 0.87. The company has a market capitalization of $24,181.56, a P/E ratio of 26.40, a P/E/G ratio of 1.57 and a beta of 1.38.
Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, February 1st. The industrial products company reported $2.15 EPS for the quarter, beating the consensus estimate of $2.07 by $0.08. Parker-Hannifin had a return on equity of 23.15% and a net margin of 6.54%. The business had revenue of $3.37 billion for the quarter, compared to the consensus estimate of $3.33 billion. During the same quarter in the prior year, the business earned $1.91 earnings per share. Parker-Hannifin’s revenue for the quarter was up 26.2% on a year-over-year basis. equities analysts expect that Parker-Hannifin Corp will post 9.97 EPS for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 2nd. Shareholders of record on Friday, February 9th were given 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 1.56%. Parker-Hannifin’s dividend payout ratio is currently 41.19%.
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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