Secured Retirement Advisors LLC cut its holdings in shares of Parker-Hannifin Corporation (NYSE:PH – Free Report) by 0.9% during the second quarter, Holdings Channel.com reports. The fund owned 1,949 shares of the industrial products company’s stock after selling 17 shares during the period. Secured Retirement Advisors LLC’s holdings in Parker-Hannifin were worth $1,361,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also bought and sold shares of the business. Vanguard Group Inc. raised its stake in Parker-Hannifin by 1.6% during the 1st quarter. Vanguard Group Inc. now owns 11,023,764 shares of the industrial products company’s stock valued at $6,700,795,000 after purchasing an additional 168,990 shares during the period. Price T Rowe Associates Inc. MD grew its stake in Parker-Hannifin by 52.6% during the first quarter. Price T Rowe Associates Inc. MD now owns 2,443,104 shares of the industrial products company’s stock valued at $1,485,042,000 after acquiring an additional 842,262 shares in the last quarter. Wellington Management Group LLP grew its stake in Parker-Hannifin by 11.6% during the first quarter. Wellington Management Group LLP now owns 2,009,250 shares of the industrial products company’s stock valued at $1,221,323,000 after acquiring an additional 208,573 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in Parker-Hannifin by 0.7% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,594,347 shares of the industrial products company’s stock valued at $969,124,000 after acquiring an additional 11,815 shares during the last quarter. Finally, Nuveen LLC bought a new stake in Parker-Hannifin in the 1st quarter valued at $933,089,000. 82.44% of the stock is owned by institutional investors.
Parker-Hannifin Trading Down 1.6%
PH stock opened at $751.00 on Wednesday. The company has a quick ratio of 0.71, a current ratio of 1.19 and a debt-to-equity ratio of 0.55. Parker-Hannifin Corporation has a twelve month low of $488.45 and a twelve month high of $779.77. The stock has a market capitalization of $95.03 billion, a price-to-earnings ratio of 27.69, a price-to-earnings-growth ratio of 3.16 and a beta of 1.35. The firm’s fifty day simple moving average is $748.30 and its two-hundred day simple moving average is $683.56.
Parker-Hannifin Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, September 12th. Stockholders of record on Tuesday, September 2nd were paid a dividend of $1.80 per share. The ex-dividend date of this dividend was Tuesday, September 2nd. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.0%. Parker-Hannifin’s dividend payout ratio is currently 26.55%.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently issued reports on PH shares. Cowen reaffirmed a “hold” rating on shares of Parker-Hannifin in a report on Friday, August 29th. Morgan Stanley lifted their price objective on Parker-Hannifin from $700.00 to $725.00 and gave the stock an “equal weight” rating in a research note on Wednesday, July 9th. Weiss Ratings restated a “buy (b)” rating on shares of Parker-Hannifin in a research report on Saturday, September 27th. Barclays boosted their price target on shares of Parker-Hannifin from $776.00 to $785.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 1st. Finally, Deutsche Bank Aktiengesellschaft downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating and set a $809.00 target price on the stock. in a report on Thursday, September 4th. Fourteen research analysts have rated the stock with a Buy rating and six have assigned a Hold rating to the company. According to data from MarketBeat.com, Parker-Hannifin presently has an average rating of “Moderate Buy” and an average target price of $773.67.
Get Our Latest Stock Analysis on Parker-Hannifin
Insider Activity
In other news, VP Robert W. Malone sold 2,257 shares of the company’s stock in a transaction dated Friday, August 8th. The shares were sold at an average price of $730.66, for a total value of $1,649,099.62. Following the transaction, the vice president directly owned 5,866 shares in the company, valued at approximately $4,286,051.56. This represents a 27.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Thomas C. Gentile sold 1,133 shares of the company’s stock in a transaction dated Friday, August 8th. The stock was sold at an average price of $729.50, for a total transaction of $826,523.50. Following the completion of the transaction, the vice president owned 5,465 shares in the company, valued at approximately $3,986,717.50. The trade was a 17.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 14,039 shares of company stock valued at $10,356,566. 0.32% of the stock is currently owned by corporate insiders.
Parker-Hannifin Profile
Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.
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