Parker-Hannifin Co. (NYSE:PH) Shares Sold by Acropolis Investment Management LLC

Acropolis Investment Management LLC reduced its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 10.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 509 shares of the industrial products company’s stock after selling 57 shares during the period. Acropolis Investment Management LLC’s holdings in Parker-Hannifin were worth $324,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. State Street Corp increased its stake in Parker-Hannifin by 13.8% during the third quarter. State Street Corp now owns 6,202,235 shares of the industrial products company’s stock worth $3,918,696,000 after acquiring an additional 753,143 shares during the last quarter. Wellington Management Group LLP grew its holdings in shares of Parker-Hannifin by 39.9% during the 3rd quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company’s stock worth $1,249,645,000 after purchasing an additional 564,365 shares during the period. International Assets Investment Management LLC increased its position in Parker-Hannifin by 64,081.5% during the 3rd quarter. International Assets Investment Management LLC now owns 381,880 shares of the industrial products company’s stock worth $241,279,000 after purchasing an additional 381,285 shares in the last quarter. World Investment Advisors LLC purchased a new position in Parker-Hannifin in the third quarter valued at approximately $226,570,000. Finally, Mizuho Securities USA LLC lifted its position in Parker-Hannifin by 3,566.4% during the third quarter. Mizuho Securities USA LLC now owns 363,302 shares of the industrial products company’s stock valued at $229,541,000 after buying an additional 353,393 shares in the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the stock. StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, October 12th. Robert W. Baird increased their price target on Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Stifel Nicolaus cut Parker-Hannifin from a “buy” rating to a “hold” rating and set a $691.00 price objective on the stock. in a research note on Monday, November 18th. UBS Group assumed coverage on Parker-Hannifin in a research note on Wednesday, November 13th. They issued a “buy” rating and a $842.00 target price for the company. Finally, KeyCorp boosted their price target on Parker-Hannifin from $725.00 to $775.00 and gave the stock an “overweight” rating in a research report on Thursday, November 21st. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, Parker-Hannifin currently has an average rating of “Moderate Buy” and a consensus target price of $722.94.

Parker-Hannifin Price Performance

Shares of NYSE:PH opened at $656.08 on Thursday. The company has a market cap of $84.45 billion, a PE ratio of 29.63, a P/E/G ratio of 2.71 and a beta of 1.45. Parker-Hannifin Co. has a fifty-two week low of $453.18 and a fifty-two week high of $712.42. The firm has a 50-day simple moving average of $673.15 and a 200 day simple moving average of $616.80. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, beating the consensus estimate of $6.14 by $0.06. The company had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.90 billion. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The business’s revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the company earned $5.96 earnings per share. On average, sell-side analysts anticipate that Parker-Hannifin Co. will post 26.75 EPS for the current year.

Parker-Hannifin Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 8th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 0.99%. The ex-dividend date of this dividend was Friday, November 8th. Parker-Hannifin’s dividend payout ratio (DPR) is 29.45%.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Joseph R. Leonti sold 5,877 shares of Parker-Hannifin stock in a transaction on Friday, November 1st. The stock was sold at an average price of $631.04, for a total transaction of $3,708,622.08. Following the sale, the vice president now owns 15,350 shares of the company’s stock, valued at $9,686,464. The trade was a 27.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Thomas C. Gentile sold 2,430 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total value of $1,703,818.80. Following the completion of the transaction, the vice president now directly owns 5,465 shares of the company’s stock, valued at approximately $3,831,839.40. The trade was a 30.78 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,077 shares of company stock worth $12,303,829. Insiders own 0.39% of the company’s stock.

Parker-Hannifin 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.