Farmers Trust Co. Reduces Position in Parker-Hannifin Corp. (PH)
Farmers Trust Co. lowered its position in shares of Parker-Hannifin Corp. (NYSE:PH) by 15.9% during the third quarter, Holdings Channel reports. The firm owned 14,668 shares of the company’s stock after selling 2,768 shares during the period. Farmers Trust Co.’s holdings in Parker-Hannifin Corp. were worth $1,841,000 as of its most recent filing with the SEC.
Other hedge funds have also recently bought and sold shares of the company. Van ECK Associates Corp boosted its stake in shares of Parker-Hannifin Corp. by 24.4% in the second quarter. Van ECK Associates Corp now owns 1,091 shares of the company’s stock worth $118,000 after buying an additional 214 shares during the last quarter. NN Investment Partners Holdings N.V. boosted its stake in shares of Parker-Hannifin Corp. by 21.9% in the second quarter. NN Investment Partners Holdings N.V. now owns 1,113 shares of the company’s stock worth $120,000 after buying an additional 200 shares during the last quarter. Signaturefd LLC boosted its stake in shares of Parker-Hannifin Corp. by 2.7% in the second quarter. Signaturefd LLC now owns 1,307 shares of the company’s stock worth $141,000 after buying an additional 34 shares during the last quarter. Catawba Capital Management VA bought a new stake in shares of Parker-Hannifin Corp. during the third quarter worth approximately $202,000. Finally, Checchi Capital Advisers LLC boosted its stake in shares of Parker-Hannifin Corp. by 1.9% in the second quarter. Checchi Capital Advisers LLC now owns 1,653 shares of the company’s stock worth $179,000 after buying an additional 31 shares during the last quarter. Institutional investors own 78.46% of the company’s stock.
Parker-Hannifin Corp. (NYSE:PH) traded up 1.45% on Wednesday, reaching $138.93. The company’s stock had a trading volume of 1,191,684 shares. The company has a 50 day moving average of $128.54 and a 200 day moving average of $120.04. The firm has a market capitalization of $18.53 billion, a price-to-earnings ratio of 23.04 and a beta of 1.23. Parker-Hannifin Corp. has a 52 week low of $83.32 and a 52 week high of $140.07.
Parker-Hannifin Corp. (NYSE:PH) last issued its earnings results on Friday, October 21st. The company reported $1.61 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.56 by $0.05. The business had revenue of $2.74 billion for the quarter, compared to analysts’ expectations of $2.78 billion. Parker-Hannifin Corp. had a return on equity of 18.74% and a net margin of 7.32%. The business’s revenue for the quarter was down 4.4% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.52 EPS. On average, analysts forecast that Parker-Hannifin Corp. will post $6.82 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Friday, December 2nd. Stockholders of record on Thursday, November 10th will be issued a dividend of $0.63 per share. This represents a $2.52 annualized dividend and a dividend yield of 1.81%. The ex-dividend date of this dividend is Tuesday, November 8th. Parker-Hannifin Corp.’s dividend payout ratio is currently 41.86%.
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PH has been the subject of a number of recent analyst reports. Morgan Stanley raised Parker-Hannifin Corp. from an “equal weight” rating to an “overweight” rating and upped their price objective for the stock from $118.00 to $139.00 in a research note on Monday, November 7th. Goldman Sachs Group Inc. upped their price objective on Parker-Hannifin Corp. from $91.00 to $101.00 and gave the stock a “sell” rating in a research note on Friday, August 5th. Citigroup Inc. upped their price objective on Parker-Hannifin Corp. from $115.00 to $120.00 and gave the stock a “neutral” rating in a research note on Friday, August 5th. Evercore ISI raised Parker-Hannifin Corp. from a “hold” rating to a “buy” rating in a research note on Monday, November 7th. Finally, TheStreet raised Parker-Hannifin Corp. from a “hold” rating to a “buy” rating in a research note on Wednesday, November 9th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus price target of $123.80.
In other news, VP Robert W. Bond sold 14,043 shares of the business’s stock in a transaction that occurred on Thursday, September 8th. The stock was sold at an average price of $124.51, for a total transaction of $1,748,493.93. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 2.73% of the company’s stock.
About Parker-Hannifin Corp.
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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