Empirical Finance LLC Boosts Holdings in Parker-Hannifin Co. (NYSE:PH)

Empirical Finance LLC boosted its position in Parker-Hannifin Co. (NYSE:PH) by 17.0% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,537 shares of the industrial products company’s stock after purchasing an additional 223 shares during the quarter. Empirical Finance LLC’s holdings in Parker-Hannifin were worth $472,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. BlackRock Inc. lifted its stake in Parker-Hannifin by 0.7% in the 1st quarter. BlackRock Inc. now owns 8,501,541 shares of the industrial products company’s stock worth $2,681,643,000 after purchasing an additional 58,466 shares in the last quarter. Geode Capital Management LLC lifted its stake in Parker-Hannifin by 2.8% in the 1st quarter. Geode Capital Management LLC now owns 2,209,996 shares of the industrial products company’s stock worth $695,216,000 after purchasing an additional 60,468 shares in the last quarter. Ameriprise Financial Inc. lifted its stake in Parker-Hannifin by 29.3% in the 1st quarter. Ameriprise Financial Inc. now owns 2,033,346 shares of the industrial products company’s stock worth $641,384,000 after purchasing an additional 461,213 shares in the last quarter. Diamond Hill Capital Management Inc. lifted its stake in Parker-Hannifin by 6.3% in the 2nd quarter. Diamond Hill Capital Management Inc. now owns 1,509,606 shares of the industrial products company’s stock worth $463,615,000 after purchasing an additional 88,871 shares in the last quarter. Finally, Northern Trust Corp lifted its stake in Parker-Hannifin by 3.6% in the 1st quarter. Northern Trust Corp now owns 1,505,647 shares of the industrial products company’s stock worth $474,926,000 after purchasing an additional 52,189 shares in the last quarter. Institutional investors and hedge funds own 79.08% of the company’s stock.

A number of brokerages have recently commented on PH. BMO Capital Markets increased their price target on shares of Parker-Hannifin from $365.00 to $375.00 and gave the stock an “outperform” rating in a report on Thursday, August 26th. KeyCorp increased their target price on shares of Parker-Hannifin from $350.00 to $375.00 and gave the company an “overweight” rating in a report on Tuesday, August 3rd. Deutsche Bank Aktiengesellschaft lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating and reduced their target price for the company from $366.00 to $327.00 in a report on Friday, August 6th. Stifel Nicolaus reaffirmed a “buy” rating and set a $364.00 target price on shares of Parker-Hannifin in a report on Friday, July 2nd. Finally, JPMorgan Chase & Co. started coverage on shares of Parker-Hannifin in a report on Friday, September 10th. They set a “neutral” rating and a $300.00 target price on the stock. Three investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $337.29.

NYSE:PH opened at $290.19 on Thursday. The company has a 50-day moving average price of $299.05 and a 200-day moving average price of $305.51. Parker-Hannifin Co. has a 12 month low of $192.25 and a 12 month high of $324.68. The company has a current ratio of 1.81, a quick ratio of 1.14 and a debt-to-equity ratio of 0.78. The stock has a market cap of $37.46 billion, a price-to-earnings ratio of 21.80, a P/E/G ratio of 1.86 and a beta of 1.77.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, August 5th. The industrial products company reported $4.38 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $4.32 by $0.06. Parker-Hannifin had a net margin of 12.16% and a return on equity of 26.68%. The company had revenue of $3.96 billion during the quarter, compared to analysts’ expectations of $3.93 billion. During the same period last year, the company posted $2.55 EPS. Parker-Hannifin’s revenue was up 25.3% on a year-over-year basis. Equities analysts forecast that Parker-Hannifin Co. will post 17 EPS for the current fiscal year.

The firm also recently declared a quarterly dividend, which was paid on Friday, September 10th. Investors of record on Friday, August 27th were given a dividend of $1.03 per share. The ex-dividend date was Thursday, August 26th. This represents a $4.12 dividend on an annualized basis and a yield of 1.42%. Parker-Hannifin’s dividend payout ratio (DPR) is currently 27.39%.

Parker-Hannifin Profile

Parker-Hannifin Corp. engages in the manufacture of motion and control technologies and systems. The firm also provides engineered solutions for mobile, industrial, and aerospace markets. It operates through the following segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers products to original equipment manufacturers.

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Institutional Ownership by Quarter for Parker-Hannifin (NYSE:PH)

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