BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Parker-Hannifin Corp (NYSE:PH) by 8.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 64,518 shares of the industrial products company’s stock after acquiring an additional 5,213 shares during the quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in Parker-Hannifin were worth $11,073,000 as of its most recent SEC filing.
Other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc grew its holdings in shares of Parker-Hannifin by 1.1% during the third quarter. Vanguard Group Inc now owns 9,326,646 shares of the industrial products company’s stock worth $1,715,450,000 after purchasing an additional 99,942 shares during the last quarter. BlackRock Inc. grew its holdings in shares of Parker-Hannifin by 3.7% during the fourth quarter. BlackRock Inc. now owns 8,457,062 shares of the industrial products company’s stock worth $1,261,286,000 after purchasing an additional 299,331 shares during the last quarter. Longview Partners Guernsey LTD boosted its holdings in Parker-Hannifin by 41.6% in the fourth quarter. Longview Partners Guernsey LTD now owns 5,626,117 shares of the industrial products company’s stock valued at $839,079,000 after acquiring an additional 1,653,011 shares during the last quarter. Norges Bank bought a new position in Parker-Hannifin in the fourth quarter valued at about $357,950,000. Finally, Victory Capital Management Inc. boosted its holdings in Parker-Hannifin by 18.4% in the fourth quarter. Victory Capital Management Inc. now owns 1,739,098 shares of the industrial products company’s stock valued at $259,369,000 after acquiring an additional 270,202 shares during the last quarter. Hedge funds and other institutional investors own 79.68% of the company’s stock.
In other news, VP Robert W. Malone sold 336 shares of the firm’s stock in a transaction dated Thursday, May 30th. The stock was sold at an average price of $156.76, for a total transaction of $52,671.36. Following the sale, the vice president now owns 24,260 shares of the company’s stock, valued at $3,802,997.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Company insiders own 1.12% of the company’s stock.
Shares of NYSE PH traded up $0.96 during mid-day trading on Friday, reaching $165.80. 688,820 shares of the company’s stock were exchanged, compared to its average volume of 912,536. The firm has a market cap of $21.15 billion, a P/E ratio of 15.91, a P/E/G ratio of 1.55 and a beta of 1.53. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.56 and a quick ratio of 1.07. Parker-Hannifin Corp has a twelve month low of $140.82 and a twelve month high of $193.19.
Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, May 2nd. The industrial products company reported $3.17 EPS for the quarter, topping the Zacks’ consensus estimate of $3.01 by $0.16. The company had revenue of $3.69 billion for the quarter, compared to analyst estimates of $3.72 billion. Parker-Hannifin had a return on equity of 26.27% and a net margin of 10.04%. Parker-Hannifin’s revenue was down 1.7% compared to the same quarter last year. During the same quarter last year, the firm posted $2.80 earnings per share. Equities analysts anticipate that Parker-Hannifin Corp will post 11.64 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, June 7th. Stockholders of record on Friday, May 10th were given a dividend of $0.88 per share. The ex-dividend date was Thursday, May 9th. This represents a $3.52 dividend on an annualized basis and a dividend yield of 2.12%. This is a positive change from Parker-Hannifin’s previous quarterly dividend of $0.76. Parker-Hannifin’s dividend payout ratio (DPR) is currently 33.78%.
Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates in two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment provides static and dynamic sealing devices; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; hydraulic, pneumatic, and electromechanical components and systems for builders and users of industrial and mobile machinery and equipment; and critical flow components for process instrumentation, healthcare, and ultra-high-purity applications, as well as components for use in refrigeration and air conditioning systems, and in fluid control applications for processing, fuel dispensing, beverage dispensing, and mobile emissions.
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