Anchor Bolt Capital LP Sells 33,822 Shares of Parker-Hannifin Corp (PH)

Anchor Bolt Capital LP reduced its holdings in shares of Parker-Hannifin Corp (NYSE:PH) by 14.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 202,765 shares of the industrial products company’s stock after selling 33,822 shares during the period. Parker-Hannifin comprises 1.5% of Anchor Bolt Capital LP’s portfolio, making the stock its 28th largest holding. Anchor Bolt Capital LP owned 0.15% of Parker-Hannifin worth $35,488,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its position in shares of Parker-Hannifin by 1.0% during the second quarter. Vanguard Group Inc. now owns 8,746,514 shares of the industrial products company’s stock worth $1,397,867,000 after acquiring an additional 90,732 shares during the last quarter. BlackRock Inc. boosted its position in shares of Parker-Hannifin by 3.6% during the second quarter. BlackRock Inc. now owns 8,464,358 shares of the industrial products company’s stock worth $1,352,775,000 after acquiring an additional 298,047 shares during the last quarter. Jennison Associates LLC boosted its position in shares of Parker-Hannifin by 28.5% during the second quarter. Jennison Associates LLC now owns 6,026,440 shares of the industrial products company’s stock worth $963,146,000 after acquiring an additional 1,336,541 shares during the last quarter. Longview Partners Guernsey LTD boosted its position in shares of Parker-Hannifin by 5.4% during the third quarter. Longview Partners Guernsey LTD now owns 5,413,458 shares of the industrial products company’s stock worth $947,463,000 after acquiring an additional 278,500 shares during the last quarter. Finally, TIAA CREF Investment Management LLC boosted its position in shares of Parker-Hannifin by 10.2% during the second quarter. TIAA CREF Investment Management LLC now owns 2,104,347 shares of the industrial products company’s stock worth $336,317,000 after acquiring an additional 194,858 shares during the last quarter. 78.04% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Corp (NYSE PH) traded up $0.37 on Friday, reaching $199.58. 655,322 shares of the company’s stock were exchanged, compared to its average volume of 761,363. 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 stock has a market cap of $26,539.97, a price-to-earnings ratio of 25.65, a PEG ratio of 1.79 and a beta of 1.40. Parker-Hannifin Corp has a 12 month low of $139.49 and a 12 month high of $200.82.

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

The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Investors of record on Friday, November 10th were issued a $0.66 dividend. This represents a $2.64 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend was Thursday, November 9th. Parker-Hannifin’s payout ratio is presently 33.93%.

Several equities research analysts have recently weighed in on the stock. ValuEngine raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. KeyCorp reaffirmed an “overweight” rating and issued a $185.00 price target on shares of Parker-Hannifin in a research note on Saturday, September 16th. Morgan Stanley cut shares of Parker-Hannifin from an “overweight” rating to an “equal weight” rating and set a $188.00 target price on the stock. in a report on Monday, October 2nd. Wells Fargo & Co increased their target price on shares of Parker-Hannifin from $181.50 to $196.00 and gave the stock a “market perform” rating in a report on Friday, October 6th. Finally, Cowen reiterated a “hold” rating and set a $140.00 target price on shares of Parker-Hannifin in a report on Friday, October 6th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $188.95.

In other news, VP Joseph R. Leonti sold 5,279 shares of the business’s stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $179.07, for a total transaction of $945,310.53. Following the transaction, the vice president now owns 8,032 shares of the company’s stock, valued at approximately $1,438,290.24. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Andrew D. Ross sold 2,056 shares of the business’s stock in a transaction dated Friday, December 8th. The shares were sold at an average price of $192.14, for a total transaction of $395,039.84. Following the transaction, the vice president now directly owns 5,207 shares in the company, valued at approximately $1,000,472.98. The disclosure for this sale can be found here. In the last three months, insiders sold 22,495 shares of company stock valued at $4,127,941. 1.12% of the stock is owned by insiders.

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About Parker-Hannifin

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.

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

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