Barings LLC Reduces Position in Parker Hannifin (PH)

Barings LLC lowered its position in shares of Parker Hannifin (NYSE:PH) by 36.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 26,064 shares of the industrial products company’s stock after selling 14,937 shares during the quarter. Barings LLC’s holdings in Parker Hannifin were worth $4,458,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in PH. Sentry Investment Management LLC boosted its holdings in shares of Parker Hannifin by 0.8% in the 4th quarter. Sentry Investment Management LLC now owns 34,739 shares of the industrial products company’s stock valued at $6,933,000 after purchasing an additional 282 shares during the last quarter. Fort Washington Investment Advisors Inc. OH boosted its holdings in shares of Parker Hannifin by 28.8% in the 1st quarter. Fort Washington Investment Advisors Inc. OH now owns 1,452 shares of the industrial products company’s stock valued at $248,000 after purchasing an additional 325 shares during the last quarter. San Francisco Sentry Investment Group CA boosted its holdings in shares of Parker Hannifin by 139.3% in the 4th quarter. San Francisco Sentry Investment Group CA now owns 579 shares of the industrial products company’s stock valued at $116,000 after purchasing an additional 337 shares during the last quarter. FDx Advisors Inc. boosted its holdings in shares of Parker Hannifin by 6.9% in the 4th quarter. FDx Advisors Inc. now owns 5,418 shares of the industrial products company’s stock valued at $1,081,000 after purchasing an additional 349 shares during the last quarter. Finally, CIBC World Markets Inc. boosted its holdings in shares of Parker Hannifin by 29.8% in the 4th quarter. CIBC World Markets Inc. now owns 1,642 shares of the industrial products company’s stock valued at $328,000 after purchasing an additional 377 shares during the last quarter. Hedge funds and other institutional investors own 80.17% of the company’s stock.

A number of equities analysts have weighed in on the stock. Citigroup decreased their price target on shares of Parker Hannifin from $205.00 to $180.00 and set a “neutral” rating on the stock in a report on Monday, April 30th. Buckingham Research cut their target price on shares of Parker Hannifin from $210.00 to $195.00 and set a “hold” rating on the stock in a research note on Friday, April 27th. JPMorgan Chase dropped their price target on shares of Parker Hannifin from $210.00 to $199.00 and set an “overweight” rating on the stock in a research note on Tuesday, April 10th. Stifel Nicolaus reissued a “buy” rating and set a $200.00 price objective (down from $232.00) on shares of Parker Hannifin in a report on Monday, April 9th. Finally, Zacks Investment Research lowered shares of Parker Hannifin from a “buy” rating to a “hold” rating in a report on Monday, March 19th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and eight have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $200.40.

In other news, Director Joseph Scaminace sold 1,149 shares of the business’s stock in a transaction dated Monday, February 26th. The stock was sold at an average price of $184.24, for a total transaction of $211,691.76. Following the sale, the director now directly owns 14,189 shares in the company, valued at $2,614,181.36. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Roger S. Sherrard sold 2,109 shares of the company’s stock in a transaction that occurred on Tuesday, March 13th. The shares were sold at an average price of $182.12, for a total value of $384,091.08. Following the completion of the sale, the vice president now owns 51,865 shares in the company, valued at $9,445,653.80. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 8,683 shares of company stock valued at $1,508,854. Company insiders own 1.12% of the company’s stock.

Shares of NYSE:PH opened at $178.32 on Friday. The stock has a market cap of $23.52 billion, a price-to-earnings ratio of 18.35, a P/E/G ratio of 1.51 and a beta of 1.44. The company has a debt-to-equity ratio of 0.82, a quick ratio of 1.09 and a current ratio of 1.59. Parker Hannifin has a 12 month low of $176.17 and a 12 month high of $177.96.

Parker Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, April 26th. The industrial products company reported $2.80 earnings per share for the quarter, beating analysts’ consensus estimates of $2.62 by $0.18. The business had revenue of $3.75 billion for the quarter, compared to the consensus estimate of $3.67 billion. Parker Hannifin had a net margin of 7.16% and a return on equity of 23.63%. Parker Hannifin’s revenue for the quarter was up 20.2% on a year-over-year basis. During the same period last year, the company posted $2.11 EPS. analysts expect that Parker Hannifin will post 10.08 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, June 1st. Investors of record on Thursday, May 10th will be paid a $0.76 dividend. The ex-dividend date of this dividend is Wednesday, May 9th. This is a boost from Parker Hannifin’s previous quarterly dividend of $0.66. This represents a $3.04 annualized dividend and a dividend yield of 1.70%. Parker Hannifin’s dividend payout ratio (DPR) is currently 37.48%.

About Parker Hannifin

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates in two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment provides static and dynamic sealing devices; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; hydraulic, pneumatic, and electromechanical components and systems for builders and users of industrial and mobile machinery and equipment; and critical flow components for process instrumentation, healthcare, and ultra-high-purity applications, as well as components for use in refrigeration and air conditioning systems, and in fluid control applications for processing, fuel dispensing, beverage dispensing, and mobile emissions.

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

Receive News & Ratings for Parker Hannifin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parker Hannifin and related companies with MarketBeat.com's FREE daily email newsletter.



Leave a Reply