Cutler Group LP Boosts Holdings in Parker-Hannifin Corp (NYSE:PH)
Cutler Group LP raised its position in Parker-Hannifin Corp (NYSE:PH) by 1,655.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,266 shares of the industrial products company’s stock after purchasing an additional 3,080 shares during the period. Cutler Group LP’s holdings in Parker-Hannifin were worth $672,000 at the end of the most recent reporting period.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. National Pension Service raised its stake in Parker-Hannifin by 5.0% in the third quarter. National Pension Service now owns 185,204 shares of the industrial products company’s stock valued at $33,450,000 after purchasing an additional 8,814 shares in the last quarter. Harel Insurance Investments & Financial Services Ltd. increased its holdings in shares of Parker-Hannifin by 62.5% in the 3rd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 507 shares of the industrial products company’s stock worth $92,000 after buying an additional 195 shares during the last quarter. Evoke Wealth LLC purchased a new stake in shares of Parker-Hannifin during the 3rd quarter valued at $199,000. Polianta Ltd purchased a new stake in shares of Parker-Hannifin during the 4th quarter valued at $1,173,000. Finally, Rockland Trust Co. purchased a new stake in shares of Parker-Hannifin during the 4th quarter valued at $278,000. Hedge funds and other institutional investors own 80.23% of the company’s stock.
NYSE PH traded down $0.96 during trading on Friday, hitting $212.07. 2,418 shares of the company’s stock traded hands, compared to its average volume of 929,930. The stock has a fifty day moving average of $204.99 and a two-hundred day moving average of $188.80. The company has a debt-to-equity ratio of 1.28, a current ratio of 1.38 and a quick ratio of 0.89. Parker-Hannifin Corp has a 12-month low of $152.18 and a 12-month high of $215.40. The firm has a market cap of $27.35 billion, a P/E ratio of 20.19, a PEG ratio of 2.16 and a beta of 1.55.
The business also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 7th will be given a dividend of $0.88 per share. The ex-dividend date of this dividend is Thursday, February 6th. This represents a $3.52 annualized dividend and a yield of 1.66%. Parker-Hannifin’s payout ratio is 29.70%.
Several research analysts recently issued reports on PH shares. Goldman Sachs Group upgraded shares of Parker-Hannifin from a “sell” rating to a “buy” rating and upped their target price for the stock from $180.00 to $230.00 in a research report on Tuesday, December 10th. ValuEngine upgraded Parker-Hannifin from a “sell” rating to a “hold” rating in a report on Friday, November 1st. Barclays initiated coverage on Parker-Hannifin in a research report on Monday, November 18th. They set an “overweight” rating and a $227.00 price objective on the stock. Citigroup raised their price objective on Parker-Hannifin from $195.00 to $210.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Finally, Gordon Haskett raised Parker-Hannifin from an “underperform” rating to a “hold” rating in a report on Monday, November 4th. One analyst has rated the stock with a sell rating, six have issued a hold rating and seven have issued a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and a consensus price target of $211.27.
In other Parker-Hannifin news, VP William R. Bowman sold 1,904 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $208.83, for a total value of $397,612.32. Following the sale, the vice president now owns 6,622 shares of the company’s stock, valued at approximately $1,382,872.26. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Andrew M. Weeks sold 3,750 shares of the firm’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $200.38, for a total transaction of $751,425.00. Over the last 90 days, insiders have sold 6,429 shares of company stock worth $1,304,440. 1.23% of the stock is owned by corporate insiders.
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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