Mackay Shields LLC trimmed its holdings in Parker-Hannifin Co. (NYSE:PH – Get Rating) by 2.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 19,228 shares of the industrial products company’s stock after selling 453 shares during the period. Mackay Shields LLC’s holdings in Parker-Hannifin were worth $6,116,000 at the end of the most recent reporting period.
Other large investors have also made changes to their positions in the company. Ellevest Inc. grew its stake in shares of Parker-Hannifin by 12.3% during the 4th quarter. Ellevest Inc. now owns 302 shares of the industrial products company’s stock valued at $96,000 after buying an additional 33 shares during the period. Quadrant Capital Group LLC grew its stake in shares of Parker-Hannifin by 3.0% during the 4th quarter. Quadrant Capital Group LLC now owns 1,156 shares of the industrial products company’s stock valued at $368,000 after buying an additional 34 shares during the period. Signaturefd LLC grew its stake in shares of Parker-Hannifin by 1.9% during the 3rd quarter. Signaturefd LLC now owns 1,872 shares of the industrial products company’s stock valued at $523,000 after buying an additional 35 shares during the period. Patriot Financial Group Insurance Agency LLC raised its stake in shares of Parker-Hannifin by 41.9% in the 4th quarter. Patriot Financial Group Insurance Agency LLC now owns 122 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 36 shares during the period. Finally, Farmers & Merchants Investments Inc. raised its stake in shares of Parker-Hannifin by 48.0% in the 4th quarter. Farmers & Merchants Investments Inc. now owns 111 shares of the industrial products company’s stock valued at $35,000 after acquiring an additional 36 shares during the period. 78.39% of the stock is owned by institutional investors and hedge funds.
In other news, VP Robert W. Malone sold 5,077 shares of Parker-Hannifin stock in a transaction dated Friday, February 4th. The shares were sold at an average price of $310.00, for a total value of $1,573,870.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.30% of the stock is currently owned by insiders.
Parker-Hannifin (NYSE:PH – Get Rating) last released its earnings results on Thursday, February 3rd. The industrial products company reported $4.46 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $3.85 by $0.61. The company had revenue of $3.82 billion during the quarter, compared to the consensus estimate of $3.72 billion. Parker-Hannifin had a net margin of 11.87% and a return on equity of 27.26%. The company’s revenue was up 12.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.44 EPS. As a group, sell-side analysts expect that Parker-Hannifin Co. will post 18.16 earnings per share for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Friday, March 4th. Stockholders of record on Friday, February 11th were given a $1.03 dividend. This represents a $4.12 annualized dividend and a dividend yield of 1.50%. The ex-dividend date of this dividend was Thursday, February 10th. Parker-Hannifin’s payout ratio is currently 29.75%.
A number of equities analysts have recently commented on the stock. Stifel Nicolaus cut their target price on shares of Parker-Hannifin from $384.00 to $338.00 and set a “buy” rating on the stock in a research note on Monday. Jefferies Financial Group cut their target price on shares of Parker-Hannifin from $380.00 to $350.00 and set a “buy” rating on the stock in a research note on Friday, March 4th. Mizuho cut their target price on shares of Parker-Hannifin from $345.00 to $305.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 9th. Deutsche Bank Aktiengesellschaft cut their target price on shares of Parker-Hannifin from $343.00 to $335.00 and set a “hold” rating on the stock in a research note on Thursday. Finally, StockNews.com initiated coverage on shares of Parker-Hannifin in a research note on Thursday, March 31st. They set a “buy” rating on the stock. Four investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, Parker-Hannifin has a consensus rating of “Buy” and an average target price of $356.93.
About Parker-Hannifin (Get Rating)
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 Company's Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; 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; control solutions for extreme corrosion resistance, temperatures, pressures, and precise flow; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.
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