Parker-Hannifin Corp (PH) Position Maintained by Westwood Management Corp IL
Westwood Management Corp IL continued to hold its stake in shares of Parker-Hannifin Corp (NYSE:PH) during the first quarter, Holdings Channel reports. The institutional investor owned 5,200 shares of the industrial products company’s stock at the end of the first quarter. Westwood Management Corp IL’s holdings in Parker-Hannifin Corp were worth $834,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of the stock. American International Group Inc. boosted its stake in shares of Parker-Hannifin Corp by 9.4% in the third quarter. American International Group Inc. now owns 94,541 shares of the industrial products company’s stock worth $11,868,000 after buying an additional 8,128 shares during the last quarter. Sei Investments Co. raised its position in shares of Parker-Hannifin Corp by 11.0% in the third quarter. Sei Investments Co. now owns 28,294 shares of the industrial products company’s stock worth $3,552,000 after buying an additional 2,799 shares during the period. NN Investment Partners Holdings N.V. raised its position in shares of Parker-Hannifin Corp by 1,163.7% in the fourth quarter. NN Investment Partners Holdings N.V. now owns 258,026 shares of the industrial products company’s stock worth $36,124,000 after buying an additional 237,607 shares during the period. Clifford Swan Investment Counsel LLC bought a new position in shares of Parker-Hannifin Corp during the third quarter worth approximately $2,779,000. Finally, World Asset Management Inc raised its position in shares of Parker-Hannifin Corp by 1.3% in the third quarter. World Asset Management Inc now owns 14,062 shares of the industrial products company’s stock worth $1,765,000 after buying an additional 178 shares during the period. 82.72% of the stock is currently owned by institutional investors.
Shares of Parker-Hannifin Corp (NYSE:PH) traded down 0.48% during mid-day trading on Friday, hitting $156.31. 1,053,920 shares of the stock were exchanged. The stock’s 50-day moving average is $157.95 and its 200-day moving average is $143.80. The stock has a market capitalization of $20.84 billion, a price-to-earnings ratio of 24.11 and a beta of 1.28. Parker-Hannifin Corp has a 52 week low of $99.10 and a 52 week high of $163.14.
Parker-Hannifin Corp (NYSE:PH) last announced its quarterly earnings data on Thursday, February 2nd. The industrial products company reported $1.91 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.52. The firm earned $2.67 billion during the quarter, compared to analyst estimates of $2.69 billion. Parker-Hannifin Corp had a net margin of 7.86% and a return on equity of 20.08%. The business’s quarterly revenue was down 1.3% on a year-over-year basis. During the same period in the previous year, the business posted $1.52 EPS. Analysts forecast that Parker-Hannifin Corp will post $7.53 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 2nd. Stockholders of record on Wednesday, May 10th will be issued a $0.66 dividend. The ex-dividend date of this dividend is Monday, May 8th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.69%. Parker-Hannifin Corp’s payout ratio is 40.80%.
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A number of research analysts recently commented on PH shares. Jefferies Group LLC reiterated a “hold” rating and issued a $145.00 price target on shares of Parker-Hannifin Corp in a research note on Friday, March 17th. Morgan Stanley restated an “overweight” rating and set a $180.00 target price on shares of Parker-Hannifin Corp in a research report on Thursday, March 2nd. BMO Capital Markets upgraded shares of Parker-Hannifin Corp from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $125.00 to $175.00 in a research report on Friday, January 13th. Cowen and Company increased their target price on shares of Parker-Hannifin Corp from $110.00 to $140.00 and gave the stock a “market perform” rating in a research report on Monday, March 13th. Finally, JPMorgan Chase & Co. upgraded shares of Parker-Hannifin Corp from a “neutral” rating to an “overweight” rating and set a $173.00 target price on the stock in a research report on Wednesday, February 22nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and sixteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $157.75.
In related news, Chairman Thomas L. Williams sold 18,435 shares of the company’s stock in a transaction on Thursday, March 30th. The shares were sold at an average price of $160.00, for a total transaction of $2,949,600.00. Following the completion of the sale, the chairman now directly owns 69,952 shares in the company, valued at approximately $11,192,320. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Yoon Michael Chung sold 657 shares of the company’s stock in a transaction on Thursday, March 2nd. The shares were sold at an average price of $158.40, for a total transaction of $104,068.80. Following the sale, the vice president now owns 23,338 shares of the company’s stock, valued at $3,696,739.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 42,184 shares of company stock valued at $6,675,032. Company insiders own 2.73% of the company’s stock.
Parker-Hannifin Corp 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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