FTB Advisors Inc. Acquires 15,125 Shares of Parker-Hannifin Corporation (PH)
FTB Advisors Inc. boosted its holdings in shares of Parker-Hannifin Corporation (NYSE:PH) by 114.8% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 28,295 shares of the industrial products company’s stock after buying an additional 15,125 shares during the quarter. FTB Advisors Inc.’s holdings in Parker-Hannifin Corporation were worth $4,529,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Israel Discount Bank of New York lifted its holdings in Parker-Hannifin Corporation by 31.6% during the second quarter. Israel Discount Bank of New York now owns 625 shares of the industrial products company’s stock valued at $100,000 after purchasing an additional 150 shares in the last quarter. Parallel Advisors LLC lifted its holdings in Parker-Hannifin Corporation by 4.1% during the second quarter. Parallel Advisors LLC now owns 612 shares of the industrial products company’s stock valued at $102,000 after purchasing an additional 24 shares in the last quarter. Harbour Capital Advisors LLC purchased a new position in Parker-Hannifin Corporation during the first quarter valued at approximately $112,000. BT Investment Management Ltd purchased a new position in Parker-Hannifin Corporation during the second quarter valued at approximately $124,000. Finally, Sun Life Financial INC lifted its holdings in Parker-Hannifin Corporation by 8,108.3% during the second quarter. Sun Life Financial INC now owns 985 shares of the industrial products company’s stock valued at $157,000 after purchasing an additional 973 shares in the last quarter. Institutional investors own 79.71% of the company’s stock.
PH has been the topic of several analyst reports. Stifel Nicolaus reaffirmed a “buy” rating and set a $189.00 price target on shares of Parker-Hannifin Corporation in a report on Friday, July 14th. BidaskClub raised shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, June 21st. ValuEngine raised shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a report on Wednesday, June 14th. Morgan Stanley downgraded shares of Parker-Hannifin Corporation from an “overweight” rating to an “equal weight” rating and set a $188.00 price target on the stock. in a report on Monday. Finally, Jefferies Group LLC reissued a “hold” rating and issued a $165.00 target price (up previously from $163.00) on shares of Parker-Hannifin Corporation in a report on Wednesday, August 9th. One analyst has rated the stock with a sell rating, six have issued a hold rating and fifteen have issued a buy rating to the stock. Parker-Hannifin Corporation has a consensus rating of “Buy” and an average price target of $174.53.
In other news, VP Martin C. Maxwell sold 2,640 shares of Parker-Hannifin Corporation stock in a transaction on Tuesday, September 12th. The stock was sold at an average price of $165.67, for a total transaction of $437,368.80. Following the transaction, the vice president now owns 31,718 shares in the company, valued at approximately $5,254,721.06. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Joseph Scaminace sold 500 shares of Parker-Hannifin Corporation stock in a transaction on Monday, August 28th. The stock was sold at an average price of $158.35, for a total value of $79,175.00. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,389 shares of company stock worth $878,913. Insiders own 1.12% of the company’s stock.
Shares of Parker-Hannifin Corporation (NYSE PH) traded down 0.16% during midday trading on Thursday, reaching $177.25. 152,325 shares of the company traded hands. The stock has a 50 day moving average price of $166.32 and a 200 day moving average price of $161.43. Parker-Hannifin Corporation has a 1-year low of $118.77 and a 1-year high of $178.13. The firm has a market capitalization of $23.60 billion, a PE ratio of 24.45 and a beta of 1.42.
Parker-Hannifin Corporation (NYSE:PH) last posted its quarterly earnings results on Thursday, August 3rd. The industrial products company reported $2.45 EPS for the quarter, topping the consensus estimate of $2.31 by $0.14. Parker-Hannifin Corporation had a return on equity of 22.90% and a net margin of 8.18%. The business had revenue of $3.50 billion for the quarter, compared to analyst estimates of $3.52 billion. During the same quarter in the previous year, the firm earned $1.90 EPS. The company’s quarterly revenue was up 18.2% compared to the same quarter last year. Analysts expect that Parker-Hannifin Corporation will post $9.08 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Monday, August 28th were issued a dividend of $0.66 per share. The ex-dividend date was Thursday, August 24th. This represents a $2.64 annualized dividend and a dividend yield of 1.49%. Parker-Hannifin Corporation’s dividend payout ratio is presently 36.51%.
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Parker-Hannifin Corporation 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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