Parker-Hannifin Corp. (PH) Shares Bought by TD Asset Management Inc.
TD Asset Management Inc. increased its stake in shares of Parker-Hannifin Corp. (NYSE:PH) by 11.4% during the third quarter, Holdings Channel reports. The firm owned 229,361 shares of the company’s stock after buying an additional 23,538 shares during the period. TD Asset Management Inc.’s holdings in Parker-Hannifin Corp. were worth $28,792,000 at the end of the most recent reporting period.
Several other hedge funds also recently made changes to their positions in the stock. Van ECK Associates Corp boosted its position 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 position 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 position 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. Cornerstone Advisors Inc. boosted its position in shares of Parker-Hannifin Corp. by 398.7% in the third quarter. Cornerstone Advisors Inc. now owns 1,182 shares of the company’s stock worth $148,000 after buying an additional 945 shares during the last quarter. Finally, Checchi Capital Advisers LLC boosted its position 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. Hedge funds and other institutional investors own 78.46% of the company’s stock.
Shares of Parker-Hannifin Corp. (NYSE:PH) traded up 0.15% on Tuesday, hitting $136.97. 106,785 shares of the stock traded hands. Parker-Hannifin Corp. has a 12-month low of $83.32 and a 12-month high of $140.07. The stock has a 50-day moving average price of $128.21 and a 200 day moving average price of $119.84. The stock has a market cap of $18.27 billion, a price-to-earnings ratio of 22.71 and a beta of 1.23.
Parker-Hannifin Corp. (NYSE:PH) last posted its quarterly earnings data on Friday, October 21st. The company reported $1.61 EPS for the quarter, beating analysts’ consensus estimates of $1.56 by $0.05. Parker-Hannifin Corp. had a net margin of 7.32% and a return on equity of 18.74%. The company earned $2.74 billion during the quarter, compared to analyst estimates of $2.78 billion. During the same period in the prior year, the firm earned $1.52 earnings per share. The business’s quarterly revenue was down 4.4% on a year-over-year basis. On average, analysts anticipate that Parker-Hannifin Corp. will post $6.82 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 2nd. Shareholders of record on Thursday, November 10th will be paid a dividend of $0.63 per share. This represents a $2.52 dividend on an annualized basis and a yield of 1.84%. The ex-dividend date is Tuesday, November 8th. Parker-Hannifin Corp.’s dividend payout ratio is presently 41.86%.
A number of equities analysts have issued reports on PH shares. Morgan Stanley upgraded shares of Parker-Hannifin Corp. from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $118.00 to $139.00 in a research report on Monday, November 7th. Jefferies Group reissued a “hold” rating on shares of Parker-Hannifin Corp. in a research report on Monday, September 12th. Stifel Nicolaus raised shares of Parker-Hannifin Corp. from a “hold” rating to a “buy” rating and boosted their price objective for the company from $131.00 to $141.00 in a research report on Wednesday, October 5th. Zacks Investment Research lowered shares of Parker-Hannifin Corp. from a “buy” rating to a “hold” rating in a research report on Monday, October 17th. Finally, Credit Suisse Group AG reissued a “buy” rating and issued a $131.00 price objective on shares of Parker-Hannifin Corp. in a research report on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $123.00.
In other Parker-Hannifin Corp. news, VP Robert W. Bond sold 14,043 shares of the company’s stock in a transaction dated Thursday, September 8th. The shares were sold at an average price of $124.51, for a total transaction of $1,748,493.93. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company 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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