Ossiam purchased a new stake in Parker-Hannifin Corp (NYSE:PH) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 530 shares of the industrial products company’s stock, valued at approximately $90,000.
A number of other institutional investors have also bought and sold shares of the business. Ibex Wealth Advisors purchased a new position in shares of Parker-Hannifin during the second quarter worth about $27,000. Trustcore Financial Services LLC purchased a new position in shares of Parker-Hannifin during the first quarter worth about $34,000. TRUE Private Wealth Advisors purchased a new position in shares of Parker-Hannifin during the second quarter worth about $34,000. HMS Capital Management LLC purchased a new position in shares of Parker-Hannifin during the second quarter worth about $36,000. Finally, Destination Wealth Management grew its holdings in shares of Parker-Hannifin by 254.3% during the second quarter. Destination Wealth Management now owns 248 shares of the industrial products company’s stock worth $42,000 after purchasing an additional 178 shares during the last quarter. Institutional investors own 82.75% of the company’s stock.
NYSE:PH traded up $2.33 during mid-day trading on Friday, reaching $183.93. The stock had a trading volume of 394,000 shares, compared to its average volume of 662,735. The company has a debt-to-equity ratio of 1.09, a quick ratio of 1.90 and a current ratio of 2.43. The firm has a market capitalization of $23.30 billion, a price-to-earnings ratio of 15.52, a PEG ratio of 1.66 and a beta of 1.56. Parker-Hannifin Corp has a twelve month low of $140.82 and a twelve month high of $193.19. The business has a 50 day simple moving average of $167.24 and a 200 day simple moving average of $170.46.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Wednesday, August 28th will be given a $0.88 dividend. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $3.52 dividend on an annualized basis and a yield of 1.91%. Parker-Hannifin’s payout ratio is currently 29.70%.
Several equities analysts have issued reports on the company. Morgan Stanley raised their price objective on Parker-Hannifin from $173.00 to $177.00 and gave the stock an “equal weight” rating in a report on Friday, August 2nd. Stifel Nicolaus raised their price target on Parker-Hannifin from $164.00 to $176.00 and gave the stock a “hold” rating in a report on Friday, August 2nd. Zacks Investment Research lowered Parker-Hannifin from a “hold” rating to a “sell” rating and set a $180.00 price target on the stock. in a report on Wednesday, July 17th. JPMorgan Chase & Co. lowered Parker-Hannifin from an “overweight” rating to a “neutral” rating and lowered their price target for the stock from $186.00 to $169.00 in a report on Wednesday, July 10th. Finally, Wells Fargo & Co lowered Parker-Hannifin from an “outperform” rating to a “market perform” rating and set a $175.00 price target on the stock. in a report on Wednesday, July 10th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and three have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $176.55.
In related news, COO Lee C. Banks sold 18,989 shares of the firm’s stock in a transaction dated Wednesday, September 11th. The shares were sold at an average price of $180.95, for a total value of $3,436,059.55. Following the completion of the sale, the chief operating officer now owns 92,617 shares in the company, valued at $16,759,046.15. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Andrew M. Weeks sold 1,732 shares of the firm’s stock in a transaction dated Tuesday, September 10th. The shares were sold at an average price of $180.64, for a total transaction of $312,868.48. Following the completion of the sale, the vice president now owns 15,257 shares of the company’s stock, valued at approximately $2,756,024.48. The disclosure for this sale can be found here. In the last 90 days, insiders sold 52,830 shares of company stock valued at $9,550,382. 1.12% of the stock is owned by insiders.
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.
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