Parker-Hannifin Co. (NYSE:PH) Stake Boosted by Private Trust Co. NA

Private Trust Co. NA increased its position in shares of Parker-Hannifin Co. (NYSE:PH) by 1.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,216 shares of the industrial products company’s stock after acquiring an additional 45 shares during the period. Private Trust Co. NA’s holdings in Parker-Hannifin were worth $2,032,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. BOKF NA lifted its holdings in shares of Parker-Hannifin by 12.9% during the 1st quarter. BOKF NA now owns 2,107 shares of the industrial products company’s stock valued at $1,161,000 after buying an additional 241 shares during the last quarter. Price T Rowe Associates Inc. MD increased its stake in shares of Parker-Hannifin by 8.3% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 196,960 shares of the industrial products company’s stock worth $109,470,000 after purchasing an additional 15,079 shares during the last quarter. Mount Yale Investment Advisors LLC bought a new position in shares of Parker-Hannifin during the 1st quarter valued at $548,000. Zurich Insurance Group Ltd FI acquired a new position in Parker-Hannifin during the first quarter worth $2,001,000. Finally, Silvercrest Asset Management Group LLC raised its position in shares of Parker-Hannifin by 12.8% in the first quarter. Silvercrest Asset Management Group LLC now owns 12,812 shares of the industrial products company’s stock valued at $7,121,000 after purchasing an additional 1,453 shares during the period. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Parker-Hannifin Trading Up 0.6 %

PH opened at $706.87 on Monday. Parker-Hannifin Co. has a 1-year low of $426.49 and a 1-year high of $711.60. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. The firm has a 50-day moving average price of $647.32 and a two-hundred day moving average price of $580.73. The stock has a market capitalization of $90.99 billion, a PE ratio of 31.93, a PEG ratio of 2.85 and a beta of 1.43.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, topping analysts’ consensus estimates of $6.14 by $0.06. The company had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.90 billion. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.96 earnings per share. As a group, equities analysts anticipate that Parker-Hannifin Co. will post 26.77 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 8th will be issued a $1.63 dividend. The ex-dividend date is Friday, November 8th. This represents a $6.52 annualized dividend and a yield of 0.92%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 29.45%.

Insider Transactions at Parker-Hannifin

In other news, VP Joseph R. Leonti sold 5,877 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $631.04, for a total value of $3,708,622.08. Following the completion of the transaction, the vice president now owns 15,350 shares in the company, valued at $9,686,464. This represents a 27.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jennifer A. Parmentier sold 4,906 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $704.69, for a total transaction of $3,457,209.14. Following the completion of the transaction, the chief executive officer now directly owns 33,607 shares of the company’s stock, valued at approximately $23,682,516.83. The trade was a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,077 shares of company stock valued at $12,303,829 over the last three months. 0.39% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on the stock. Argus boosted their target price on shares of Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Evercore ISI boosted their price objective on shares of Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, October 12th. TD Cowen lifted their target price on Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Finally, Robert W. Baird boosted their price target on Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $691.40.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates through two segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial segment offers sealing, shielding, thermal products and systems, adhesives, coatings, and noise vibration and harshness solutions; filters, systems, and diagnostics solutions to ensure purity and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors used in fluid and gas handling; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.