Haverford Trust Co Sells 16 Shares of Parker-Hannifin Co. (NYSE:PH)

Haverford Trust Co decreased its holdings in Parker-Hannifin Co. (NYSE:PH) by 1.9% in the third quarter, Holdings Channel reports. The firm owned 846 shares of the industrial products company’s stock after selling 16 shares during the quarter. Haverford Trust Co’s holdings in Parker-Hannifin were worth $535,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. International Assets Investment Management LLC grew its stake in shares of Parker-Hannifin by 64,081.5% in the third quarter. International Assets Investment Management LLC now owns 381,880 shares of the industrial products company’s stock worth $241,279,000 after acquiring an additional 381,285 shares during the period. 1832 Asset Management L.P. grew its position in Parker-Hannifin by 305.0% in the 1st quarter. 1832 Asset Management L.P. now owns 307,794 shares of the industrial products company’s stock worth $171,069,000 after purchasing an additional 231,788 shares during the period. AMF Tjanstepension AB raised its stake in Parker-Hannifin by 23.0% during the 2nd quarter. AMF Tjanstepension AB now owns 758,262 shares of the industrial products company’s stock valued at $383,594,000 after buying an additional 141,862 shares during the last quarter. Mackenzie Financial Corp lifted its holdings in shares of Parker-Hannifin by 107.7% during the 2nd quarter. Mackenzie Financial Corp now owns 271,717 shares of the industrial products company’s stock valued at $137,437,000 after buying an additional 140,898 shares during the period. Finally, Swedbank AB boosted its stake in shares of Parker-Hannifin by 377.8% in the 3rd quarter. Swedbank AB now owns 158,085 shares of the industrial products company’s stock worth $99,881,000 after buying an additional 125,000 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,430 shares of the business’s 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 completion of the sale, the vice president now directly owns 5,465 shares of the company’s stock, valued at $3,831,839.40. The trade was a 30.78 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Berend Bracht sold 850 shares of Parker-Hannifin stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $592.92, for a total transaction of $503,982.00. Following the sale, the vice president now directly owns 3,350 shares of the company’s stock, valued at $1,986,282. This represents a 20.24 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,927 shares of company stock worth $12,807,811 over the last ninety days. Company insiders own 0.39% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have weighed in on PH shares. Deutsche Bank Aktiengesellschaft increased their target price on Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a report on Friday, August 9th. TD Cowen increased their price objective on shares of Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a research note on Tuesday. Raymond James boosted their target price on shares of Parker-Hannifin from $610.00 to $650.00 and gave the company an “outperform” rating in a research report on Wednesday, September 4th. Argus increased their price target 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. Finally, StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, October 12th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $688.07.

Parker-Hannifin Stock Performance

NYSE PH opened at $697.63 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57. Parker-Hannifin Co. has a 1-year low of $425.20 and a 1-year high of $711.60. The business has a 50 day simple moving average of $631.19 and a two-hundred day simple moving average of $573.08. The stock has a market capitalization of $89.80 billion, a PE ratio of 31.51, a P/E/G ratio of 2.82 and a beta of 1.43.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share 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 analyst estimates of $4.90 billion. During the same period last year, the firm posted $5.96 earnings per share. Parker-Hannifin’s revenue for the quarter was up 1.2% compared to the same quarter last year. On average, research analysts predict that Parker-Hannifin Co. will post 26.77 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 8th will be paid 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 currently 29.45%.

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.