Today: The IMS Capital Management Reached $222,000 position of Parker-Hannifin Corp. (PH)

The IMS Capital Management Reached $222,000 position  of Parker-Hannifin Corp. (PH)

IMS Capital Management held its stake in shares of Parker-Hannifin Corp. (NYSE:PH) during the second quarter, Holdings Channel reports. The fund owned 2,050 shares of the company’s stock at the end of the second quarter. IMS Capital Management’s holdings in Parker-Hannifin Corp. were worth $222,000 as of its most recent filing with the SEC.

Several other large investors also recently made changes to their positions in PH. Quantbot Technologies LP raised its stake in shares of Parker-Hannifin Corp. by 44.8% in the second quarter. Quantbot Technologies LP now owns 27,299 shares of the company’s stock worth $2,949,000 after buying an additional 8,451 shares during the last quarter. World Asset Management Inc raised its stake in shares of Parker-Hannifin Corp. by 0.7% in the second quarter. World Asset Management Inc now owns 13,884 shares of the company’s stock worth $1,500,000 after buying an additional 101 shares during the last quarter. Carnegie Capital Asset Management LLC raised its stake in shares of Parker-Hannifin Corp. by 9.5% in the second quarter. Carnegie Capital Asset Management LLC now owns 5,179 shares of the company’s stock worth $595,000 after buying an additional 450 shares during the last quarter. Columbus Circle Investors raised its stake in shares of Parker-Hannifin Corp. by 5.5% in the second quarter. Columbus Circle Investors now owns 79,714 shares of the company’s stock worth $8,613,000 after buying an additional 4,126 shares during the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its stake in shares of Parker-Hannifin Corp. by 2.2% in the second quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 20,176 shares of the company’s stock worth $2,180,000 after buying an additional 434 shares during the last quarter. 80.85% of the stock is currently owned by hedge funds and other institutional investors.

Shares of Parker-Hannifin Corp. (NYSE:PH) traded up 0.21% during mid-day trading on Friday, reaching $121.96. 1,277,736 shares of the company traded hands. Parker-Hannifin Corp. has a 52 week low of $83.32 and a 52 week high of $128.24. The firm has a 50-day moving average price of $123.15 and a 200 day moving average price of $117.05. The firm has a market capitalization of $16.30 billion, a price-to-earnings ratio of 20.22 and a beta of 1.49.

Parker-Hannifin Corp. (NYSE:PH) last issued its earnings results on Friday, October 21st. The company reported $1.61 earnings per share (EPS) for the quarter, topping 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 had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.78 billion. During the same period in the prior year, the business earned $1.52 EPS. The firm’s quarterly revenue was down 4.4% on a year-over-year basis. On average, analysts anticipate that Parker-Hannifin Corp. will post $6.79 earnings per share for the current year.

The company also recently declared a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Thursday, November 10th will be issued a $0.63 dividend. This represents a $2.52 dividend on an annualized basis and a dividend yield of 2.07%. The ex-dividend date is Tuesday, November 8th. Parker-Hannifin Corp.’s dividend payout ratio is currently 41.86%.

A number of brokerages have recently weighed in on PH. TheStreet lowered shares of Parker-Hannifin Corp. from a “buy” rating to a “hold” rating in a research note on Friday, October 21st. Zacks Investment Research cut shares of Parker-Hannifin Corp. from a “buy” rating to a “hold” rating in a research report on Monday, October 17th. Avondale Partners reissued a “market perform” rating on shares of Parker-Hannifin Corp. in a research report on Monday, October 10th. Goldman Sachs Group Inc. raised shares of Parker-Hannifin Corp. from a “sell” rating to a “neutral” rating and lifted their price target for the company from $106.00 to $120.00 in a research report on Tuesday, October 11th. Finally, Stifel Nicolaus raised shares of Parker-Hannifin Corp. from a “hold” rating to a “buy” rating and lifted their price target for the company from $131.00 to $141.00 in a research report on Wednesday, October 5th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and five have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $118.53.

In other news, COO Lee C. Banks sold 10,953 shares of the firm’s stock in a transaction dated Wednesday, August 17th. The shares were sold at an average price of $124.28, for a total value of $1,361,238.84. Following the sale, the chief operating officer now directly owns 99,977 shares in the company, valued at approximately $12,425,141.56. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Robert W. Bond sold 14,043 shares of the stock in a transaction that occurred 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 disclosure for this sale can be found here. 2.73% of the stock is currently owned by insiders.

Parker-Hannifin Corp. 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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