First National Trust Co. lowered its position in shares of Parker-Hannifin Corp. (NYSE:PH) by 34.4% during the third quarter, Holdings Channel reports. The fund owned 2,130 shares of the company’s stock after selling 1,115 shares during the period. First National Trust Co.’s holdings in Parker-Hannifin Corp. were worth $267,000 as of its most recent SEC filing.
Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its stake in Parker-Hannifin Corp. by 1.4% in the second quarter. Vanguard Group Inc. now owns 8,825,955 shares of the company’s stock valued at $953,645,000 after buying an additional 118,306 shares in the last quarter. BlackRock Fund Advisors boosted its stake in Parker-Hannifin Corp. by 1.8% in the second quarter. BlackRock Fund Advisors now owns 2,092,606 shares of the company’s stock valued at $226,106,000 after buying an additional 37,187 shares in the last quarter. TIAA CREF Investment Management LLC boosted its stake in Parker-Hannifin Corp. by 40.0% in the second quarter. TIAA CREF Investment Management LLC now owns 1,498,918 shares of the company’s stock valued at $161,958,000 after buying an additional 428,032 shares in the last quarter. American Century Companies Inc. boosted its stake in Parker-Hannifin Corp. by 25.6% in the second quarter. American Century Companies Inc. now owns 1,369,527 shares of the company’s stock valued at $147,977,000 after buying an additional 279,278 shares in the last quarter. Finally, Beutel Goodman & Co Ltd. boosted its stake in Parker-Hannifin Corp. by 4.7% in the third quarter. Beutel Goodman & Co Ltd. now owns 1,308,555 shares of the company’s stock valued at $125,229,000 after buying an additional 58,508 shares in the last quarter. 79.86% of the stock is owned by institutional investors and hedge funds.
Parker-Hannifin Corp. (NYSE:PH) traded up 0.54% during mid-day trading on Friday, reaching $139.04. The company’s stock had a trading volume of 253,968 shares. The stock has a market capitalization of $18.55 billion, a P/E ratio of 23.05 and a beta of 1.23. Parker-Hannifin Corp. has a 1-year low of $83.32 and a 1-year high of $140.07. The stock’s 50 day moving average price is $127.51 and its 200 day moving average price is $119.38.
Parker-Hannifin Corp. (NYSE:PH) last announced its quarterly earnings data on Friday, October 21st. The company reported $1.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.56 by $0.05. Parker-Hannifin Corp. had a net margin of 7.32% and a return on equity of 18.74%. The company earned $2.74 billion during the quarter, compared to analysts’ expectations of $2.78 billion. During the same period in the previous year, the company earned $1.52 EPS. The business’s quarterly revenue was down 4.4% compared to the same quarter last year. Analysts expect that Parker-Hannifin Corp. will post $6.82 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Thursday, November 10th will be paid a dividend of $0.63 per share. The ex-dividend date is Tuesday, November 8th. This represents a $2.52 annualized dividend and a dividend yield of 1.81%. Parker-Hannifin Corp.’s dividend payout ratio is presently 41.86%.
Several research analysts recently weighed in on the company. Zacks Investment Research upgraded Parker-Hannifin Corp. from a “hold” rating to a “buy” rating and set a $140.00 price objective for the company in a research report on Tuesday, October 4th. Morgan Stanley upgraded Parker-Hannifin Corp. from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $118.00 to $139.00 in a research report on Monday, November 7th. TheStreet lowered Parker-Hannifin Corp. from a “buy” rating to a “hold” rating in a research report on Friday, October 21st. Stifel Nicolaus upgraded Parker-Hannifin Corp. from a “hold” rating to a “buy” rating and increased their price objective for the stock from $131.00 to $141.00 in a research report on Wednesday, October 5th. Finally, Avondale Partners reiterated a “market perform” rating on shares of Parker-Hannifin Corp. in a research report on Monday, October 10th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $123.07.
In other news, VP Robert W. Bond sold 14,043 shares of the business’s stock in a transaction on Thursday, September 8th. The shares were sold at an average price of $124.51, for a total transaction of $1,748,493.93. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 2.73% of the company’s stock.
About Parker-Hannifin Corp.
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.