USS Investment Management Ltd Bought Shares of 195,000 Parker-Hannifin Corp (PH)

USS Investment Management Ltd Bought Shares of 195,000 Parker-Hannifin Corp (PH)

USS Investment Management Ltd acquired a new position in shares of Parker-Hannifin Corp (NYSE:PH) during the first quarter, Holdings Channel reports. The firm acquired 195,000 shares of the industrial products company’s stock, valued at approximately $31,264,000.

Other hedge funds also recently bought and sold shares of the company. Itau Unibanco Holding S.A. bought a new stake in Parker-Hannifin Corp during the third quarter worth approximately $105,000. Quadrant Capital Group LLC increased its position in Parker-Hannifin Corp by 4.6% in the first quarter. Quadrant Capital Group LLC now owns 844 shares of the industrial products company’s stock valued at $131,000 after buying an additional 37 shares during the period. TrimTabs Asset Management LLC increased its position in Parker-Hannifin Corp by 88.5% in the first quarter. TrimTabs Asset Management LLC now owns 852 shares of the industrial products company’s stock valued at $137,000 after buying an additional 400 shares during the period. Bronfman E.L. Rothschild L.P. increased its position in Parker-Hannifin Corp 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 valued at $207,000 after buying an additional 62 shares during the period. Finally, Checchi Capital Advisers LLC acquired a new position in Parker-Hannifin Corp during the first quarter valued at $213,000. 82.72% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Corp (NYSE PH) traded down 0.23% during trading on Monday, hitting $159.87. The stock had a trading volume of 169,412 shares. The firm’s 50 day moving average is $158.50 and its 200 day moving average is $151.35. The firm has a market cap of $21.29 billion, a price-to-earnings ratio of 23.29 and a beta of 1.28. Parker-Hannifin Corp has a 1-year low of $99.10 and a 1-year high of $166.60.

Parker-Hannifin Corp (NYSE:PH) last released its quarterly earnings data on Thursday, April 27th. The industrial products company reported $2.11 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.86 by $0.25. The firm had revenue of $3.12 billion during the quarter, compared to analysts’ expectations of $3.03 billion. Parker-Hannifin Corp had a return on equity of 20.65% and a net margin of 7.66%. The business’s revenue for the quarter was up 10.3% on a year-over-year basis. During the same quarter last year, the firm earned $1.51 earnings per share. On average, analysts anticipate that Parker-Hannifin Corp will post $7.92 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 2nd. Investors of record on Wednesday, May 10th were given a dividend of $0.66 per share. The ex-dividend date of this dividend was Monday, May 8th. This represents a $2.64 dividend on an annualized basis and a yield of 1.65%. Parker-Hannifin Corp’s payout ratio is 40.80%.

PH has been the topic of several recent analyst reports. Zacks Investment Research upgraded Parker-Hannifin Corp from a “hold” rating to a “buy” rating and set a $168.00 target price on the stock in a research report on Monday, February 6th. Argus upgraded Parker-Hannifin Corp from a “hold” rating to a “buy” rating and set a $176.00 target price on the stock in a research report on Tuesday, February 7th. Bank of America Corp upgraded Parker-Hannifin Corp from a “neutral” rating to a “buy” rating and increased their target price for the stock from $157.00 to $180.00 in a research report on Wednesday, February 15th. JPMorgan Chase & Co. upgraded 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. Finally, Morgan Stanley reiterated an “overweight” rating and set a $180.00 target price on shares of Parker-Hannifin Corp in a research report on Thursday, March 2nd. One analyst has rated the stock with a sell rating, three have issued a hold rating and sixteen have assigned a buy rating to the company. The company presently has an average rating of “Buy” and a consensus target price of $160.00.

In other Parker-Hannifin Corp news, Chairman Thomas L. Williams sold 18,435 shares of the business’s stock in a transaction dated Thursday, March 30th. The stock was sold at an average price of $160.00, for a total value of $2,949,600.00. Following the completion of the sale, the chairman now owns 69,952 shares of the company’s stock, valued at $11,192,320. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, VP Martin C. Maxwell sold 2,850 shares of the business’s stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $160.08, for a total value of $456,228.00. Following the completion of the sale, the vice president now directly owns 21,968 shares of the company’s stock, valued at approximately $3,516,637.44. The disclosure for this sale can be found here. In the last three months, insiders have sold 37,468 shares of company stock valued at $6,013,701. Insiders own 2.73% of the company’s stock.

About Parker-Hannifin Corp

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.new TradingView.widget({ “height”: 400, “width”: 625, “symbol”: “PH”, “interval”: “D”, “timezone”: “Etc/UTC”, “theme”: “White”, “style”: “1”, “locale”: “en”, “toolbar_bg”: “#f1f3f6”, “enable_publishing”: false, “hideideas”: true, “referral_id”: “2588”});

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