Parker-Hannifin Corporation (PH) Shares Sold by Fort Pitt Capital Group LLC
Fort Pitt Capital Group LLC decreased its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 0.7% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 129,912 shares of the industrial products company’s stock after selling 910 shares during the period. Parker-Hannifin Corporation comprises approximately 1.9% of Fort Pitt Capital Group LLC’s holdings, making the stock its 24th largest position. Fort Pitt Capital Group LLC owned about 0.10% of Parker-Hannifin Corporation worth $20,827,000 at the end of the most recent quarter.
Several other institutional investors also recently bought and sold shares of the stock. Quadrant Capital Group LLC boosted its stake in shares of Parker-Hannifin Corporation by 4.6% in the first quarter. Quadrant Capital Group LLC now owns 844 shares of the industrial products company’s stock worth $131,000 after buying an additional 37 shares in the last quarter. TrimTabs Asset Management LLC boosted its stake in shares of Parker-Hannifin Corporation by 88.5% in the first quarter. TrimTabs Asset Management LLC now owns 852 shares of the industrial products company’s stock worth $137,000 after buying an additional 400 shares in the last quarter. Bronfman E.L. Rothschild L.P. boosted its stake in shares of Parker-Hannifin Corporation by 5.0% in the first quarter. Bronfman E.L. Rothschild L.P. now owns 1,291 shares of the industrial products company’s stock worth $207,000 after buying an additional 62 shares in the last quarter. Checchi Capital Advisers LLC acquired a new stake in shares of Parker-Hannifin Corporation during the first quarter worth about $213,000. Finally, IPG Investment Advisors LLC acquired a new stake in shares of Parker-Hannifin Corporation during the first quarter worth about $217,000. Institutional investors and hedge funds own 80.56% of the company’s stock.
Shares of Parker-Hannifin Corporation (NYSE:PH) traded up 2.04% on Friday, hitting $162.61. 1,812,618 shares of the stock were exchanged. The firm has a market capitalization of $21.66 billion, a PE ratio of 23.69 and a beta of 1.32. The company has a 50-day moving average price of $157.96 and a 200-day moving average price of $152.66. Parker-Hannifin Corporation has a one year low of $99.10 and a one year high of $166.60.
Parker-Hannifin Corporation (NYSE:PH) last announced its earnings results on Thursday, April 27th. The industrial products company reported $2.11 EPS for the quarter, topping the consensus estimate of $1.86 by $0.25. The business had revenue of $3.12 billion during the quarter, compared to the consensus estimate of $3.03 billion. Parker-Hannifin Corporation had a net margin of 8.11% and a return on equity of 22.14%. Parker-Hannifin Corporation’s revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.51 EPS. Equities research analysts expect that Parker-Hannifin Corporation will post $7.92 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, June 2nd. Investors of record on Wednesday, May 10th were issued a dividend of $0.66 per share. This represents a $2.64 annualized dividend and a dividend yield of 1.62%. The ex-dividend date of this dividend was Monday, May 8th. Parker-Hannifin Corporation’s payout ratio is 38.54%.
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PH has been the subject of a number of recent research reports. J P Morgan Chase & Co set a $175.00 price objective on shares of Parker-Hannifin Corporation and gave the stock a “buy” rating in a report on Thursday, May 18th. Jefferies Group LLC reiterated a “hold” rating and issued a $145.00 price objective on shares of Parker-Hannifin Corporation in a report on Friday, March 17th. Zacks Investment Research cut shares of Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a report on Friday, April 7th. Credit Suisse Group set a $169.00 price objective on shares of Parker-Hannifin Corporation and gave the stock a “buy” rating in a report on Wednesday, April 12th. Finally, Morgan Stanley reiterated an “overweight” rating and issued a $180.00 price objective on shares of Parker-Hannifin Corporation in a report on Thursday, March 2nd. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and seventeen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $160.00.
In related news, VP Robert W. Bond sold 12,490 shares of Parker-Hannifin Corporation stock in a transaction dated Friday, April 28th. The shares were sold at an average price of $161.78, for a total transaction of $2,020,632.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Thomas L. Williams sold 18,435 shares of Parker-Hannifin Corporation stock in a transaction dated Thursday, March 30th. The stock was sold at an average price of $160.00, for a total transaction of $2,949,600.00. Following the sale, the chairman now directly owns 69,952 shares of the company’s stock, valued at approximately $11,192,320. The disclosure for this sale can be found here. Insiders have sold a total of 39,998 shares of company stock valued at $6,420,980 in the last ninety days. 2.73% of the stock is currently owned by insiders.
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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