Investors Buy Parker-Hannifin (PH) on Weakness

Investors purchased shares of Parker-Hannifin Corp (NYSE:PH) on weakness during trading hours on Tuesday. $48.72 million flowed into the stock on the tick-up and $12.35 million flowed out of the stock on the tick-down, for a money net flow of $36.37 million into the stock. Of all equities tracked, Parker-Hannifin had the 16th highest net in-flow for the day. Parker-Hannifin traded down ($0.31) for the day and closed at $198.94

Several brokerages have issued reports on PH. ValuEngine cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. Buckingham Research boosted their price objective on shares of Parker-Hannifin from $205.00 to $210.00 and gave the company a “buy” rating in a research note on Friday, November 3rd. Credit Suisse Group boosted their price objective on shares of Parker-Hannifin from $205.00 to $206.00 and gave the company an “outperform” rating in a research note on Friday, November 3rd. Robert W. Baird boosted their price objective on shares of Parker-Hannifin from $183.00 to $194.00 and gave the company a “neutral” rating in a research note on Friday, November 3rd. Finally, Jefferies Group boosted their target price on shares of Parker-Hannifin from $175.00 to $185.00 and gave the stock a “hold” rating in a research report on Friday, November 3rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $188.95.

The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 0.87. The firm has a market cap of $26,480.00, a PE ratio of 25.53, a P/E/G ratio of 1.79 and a beta of 1.40.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, November 2nd. The industrial products company reported $2.24 EPS for the quarter, topping the consensus estimate of $2.02 by $0.22. Parker-Hannifin had a net margin of 8.37% and a return on equity of 23.61%. The business had revenue of $3.36 billion for the quarter, compared to analyst estimates of $3.31 billion. During the same period in the previous year, the firm earned $1.61 EPS. The business’s revenue for the quarter was up 22.7% compared to the same quarter last year. equities analysts forecast that Parker-Hannifin Corp will post 9.57 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 10th were given a $0.66 dividend. The ex-dividend date was Thursday, November 9th. This represents a $2.64 annualized dividend and a dividend yield of 1.33%. Parker-Hannifin’s dividend payout ratio is presently 33.89%.

In other Parker-Hannifin news, VP Robert W. Malone sold 540 shares of the company’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $186.37, for a total value of $100,639.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Robert W. Bond sold 5,517 shares of the company’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $181.72, for a total transaction of $1,002,549.24. Following the completion of the transaction, the vice president now owns 28,265 shares in the company, valued at $5,136,315.80. The disclosure for this sale can be found here. Insiders sold a total of 22,495 shares of company stock worth $4,127,941 over the last quarter. Insiders own 1.12% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. increased its position in Parker-Hannifin by 1.0% during the 2nd quarter. Vanguard Group Inc. now owns 8,746,514 shares of the industrial products company’s stock worth $1,397,867,000 after purchasing an additional 90,732 shares in the last quarter. BlackRock Inc. increased its position in Parker-Hannifin by 3.6% during the 2nd quarter. BlackRock Inc. now owns 8,464,358 shares of the industrial products company’s stock worth $1,352,775,000 after purchasing an additional 298,047 shares in the last quarter. Longview Partners Guernsey LTD increased its position in Parker-Hannifin by 5.4% during the 3rd quarter. Longview Partners Guernsey LTD now owns 5,413,458 shares of the industrial products company’s stock worth $947,463,000 after purchasing an additional 278,500 shares in the last quarter. TIAA CREF Investment Management LLC increased its position in Parker-Hannifin by 10.2% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 2,104,347 shares of the industrial products company’s stock worth $336,317,000 after purchasing an additional 194,858 shares in the last quarter. Finally, FMR LLC increased its position in Parker-Hannifin by 11.7% during the 2nd quarter. FMR LLC now owns 1,959,733 shares of the industrial products company’s stock worth $313,205,000 after purchasing an additional 204,826 shares in the last quarter. 78.04% of the stock is owned by institutional investors.

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Parker-Hannifin Company Profile

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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