Shares are trading at $176.09 which is just a bit higher than $161.62, the 50 day moving average and significantly higher than the 200 day moving average of $160.00. The 50 day moving average was up $14.47 or +8.96% whereas the 200 day average was up by +10.05%. (NYSE:PH) shares saw heavy trading volume with 2,046K shares changing hands by the end of trading on Wednesday. Overall, volume was up 84.77% over the stocks normal daily volume.
Traders are feeling more bearish on Parker-Hannifin Corporation as inferred by the uptick in short interest. The stock had a rise in short interest between August 15, 2017 and August 31, 2017 of 10.33%. Short shares grew 200,899 over that period. With short interest at 2,145,676 and short average daily volume at 819,289, days to cover is 3.0 and the percentage of shorted shares was 0.02% on August 31.
Parker-Hannifin Corporation (NYSE:PH) has been the object of insider selling activity recently. Martin C. Maxwell, VP – CTIO reported the sale of 2,640 shares. The shares were purchased at an average price of $165.67. Maxwell now owns $3,639,439 of the stock per the Form 4 SEC filing. EVP – HR & External Affairs Mark J. Hart disclosed the sale of 600 shares of PH stock. The shares were sold on August 31st for an average price of $160.72. The EVP – HR & External Affairs now owns $5,708,935 of the stock according to the SEC filing.
A few notable investment firms have updated their holdings. Cantab Capital Partners Llp divested its investment by shedding 2,149 shares a decrease of 20.7% from 03/31/2017 to 06/30/2017. Cantab Capital Partners Llp now holds 8,223 shares with a value of $1,314,000,000. The value of the position overall is up by 78,913.8%. As of quarter end Edge Asset Management, Inc had disposed of a total of 96,935 shares trimming its stake by 13.6%. The value of the investment in Parker-Hannifin Corporation went from $99,889,000 to $98,847,000 a change of 1.0% quarter over quarter.
As of the end of the quarter Janus Capital Management LLC had bought 365,491 shares growing its holdings by 529,697.1%. The value in dollars increased from $10,000 to $58,607,000 a change of $58,597,000 for the reporting period. Point72 Asset Management, L.p. grew its stake by buying 156,800 shares an increase of 476.6% as of 06/30/2017. Point72 Asset Management, L.p. now controls 189,700 shares worth $30,318,000. The total value of its holdings increased 474.7%.
On July 11 analysts at Wolfe Research started covering the stock by announcing an initial rating of “Outperform”.
The company is now up by 1.42% percent from yesterday’s close. Parker-Hannifin Corporation announced a dividend paid on Friday September 8th, 2017. The dividend payment was $0.660 per share for the quarter which is $2.64 annualized. This dividend amount was represent a yield of $1.56. The ex-dividend date was Thursday the 24th of August 2017.
The company currently has a P/E ratio of 24.29 and the market cap is 23.44B. As of the latest earnings report the EPS was $7.25 and is projected to be $9.08 for the current year with 133,129,000 shares presently outstanding. Next quarter’s EPS is forecasted at $1.95 with next year’s EPS projected to be $10.24.
Parker-Hannifin Corporation, launched on December 30, 1938, 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. The Aerospace Systems Segment produces hydraulic, fuel, pneumatic and electro-mechanical systems and components, which are utilized on domestic commercial, military and general aviation aircrafts..