Fiduciary Trust Co Sells 210 Shares of Parker-Hannifin Co. (NYSE:PH)

Fiduciary Trust Co decreased its position in Parker-Hannifin Co. (NYSE:PH) by 1.3% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 15,947 shares of the industrial products company’s stock after selling 210 shares during the quarter. Fiduciary Trust Co’s holdings in Parker-Hannifin were worth $10,076,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Tidal Investments LLC increased its stake in shares of Parker-Hannifin by 41.4% in the 1st quarter. Tidal Investments LLC now owns 7,843 shares of the industrial products company’s stock worth $4,360,000 after purchasing an additional 2,298 shares in the last quarter. Citizens Financial Group Inc. RI grew its holdings in Parker-Hannifin by 168.6% during the first quarter. Citizens Financial Group Inc. RI now owns 1,520 shares of the industrial products company’s stock valued at $845,000 after purchasing an additional 954 shares during the period. Strategic Wealth Partners Ltd. increased its position in Parker-Hannifin by 20.9% in the first quarter. Strategic Wealth Partners Ltd. now owns 872 shares of the industrial products company’s stock worth $485,000 after buying an additional 151 shares in the last quarter. Swedbank AB bought a new position in shares of Parker-Hannifin in the first quarter worth about $20,140,000. Finally, Cetera Investment Advisers lifted its position in shares of Parker-Hannifin by 98.6% during the 1st quarter. Cetera Investment Advisers now owns 45,124 shares of the industrial products company’s stock valued at $25,079,000 after buying an additional 22,407 shares in the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, VP Thomas C. Gentile sold 2,430 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total value of $1,703,818.80. Following the sale, the vice president now directly owns 5,465 shares of the company’s stock, valued at $3,831,839.40. This represents a 30.78 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Andrew D. Ross sold 4,864 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total value of $3,434,178.56. Following the transaction, the chief operating officer now owns 13,120 shares of the company’s stock, valued at $9,263,244.80. This trade represents a 27.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,077 shares of company stock worth $12,303,829 over the last three months. 0.39% of the stock is owned by insiders.

Parker-Hannifin Trading Down 1.0 %

Shares of PH opened at $699.71 on Thursday. The stock has a market capitalization of $90.07 billion, a PE ratio of 31.60, a P/E/G ratio of 2.84 and a beta of 1.43. The company’s fifty day moving average is $653.32 and its 200 day moving average is $583.58. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96. Parker-Hannifin Co. has a fifty-two week low of $426.49 and a fifty-two week high of $712.42.

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

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 8th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $6.52 annualized dividend and a yield of 0.93%. Parker-Hannifin’s payout ratio is presently 29.45%.

Analysts Set New Price Targets

A number of research firms have commented on PH. Barclays raised their target price on shares of Parker-Hannifin from $650.00 to $703.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Robert W. Baird upped their target price on shares of Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. TD Cowen raised their price target on Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Raymond James upped their price objective on Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. Finally, Stifel Nicolaus downgraded Parker-Hannifin from a “buy” rating to a “hold” rating and set a $691.00 target price on the stock. in a research note on Monday, November 18th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $691.40.

About Parker-Hannifin

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.