Metis Global Partners LLC Increases Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Metis Global Partners LLC increased its holdings in Parker-Hannifin Co. (NYSE:PH) by 1.8% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,107 shares of the industrial products company’s stock after buying an additional 74 shares during the period. Metis Global Partners LLC’s holdings in Parker-Hannifin were worth $2,595,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in the business. KBC Group NV increased its stake in shares of Parker-Hannifin by 272.7% during the 3rd quarter. KBC Group NV now owns 38,633 shares of the industrial products company’s stock worth $24,409,000 after purchasing an additional 28,268 shares in the last quarter. BCM Advisors LLC raised its holdings in shares of Parker-Hannifin by 0.5% in the third quarter. BCM Advisors LLC now owns 3,971 shares of the industrial products company’s stock worth $2,533,000 after acquiring an additional 20 shares during the last quarter. Schrum Private Wealth Management LLC purchased a new stake in shares of Parker-Hannifin in the third quarter valued at $382,000. Kovack Advisors Inc. increased its position in Parker-Hannifin by 30.5% during the 3rd quarter. Kovack Advisors Inc. now owns 590 shares of the industrial products company’s stock worth $373,000 after purchasing an additional 138 shares in the last quarter. Finally, Oppenheimer & Co. Inc. raised its stake in Parker-Hannifin by 2.5% in the 3rd quarter. Oppenheimer & Co. Inc. now owns 7,048 shares of the industrial products company’s stock valued at $4,453,000 after purchasing an additional 174 shares during the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Parker-Hannifin news, COO Andrew D. Ross sold 4,864 shares of the company’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 completion of the sale, the chief operating officer now owns 13,120 shares of the company’s stock, valued at approximately $9,263,244.80. This represents a 27.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Berend Bracht sold 850 shares of the business’s stock in a transaction 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 completion of the transaction, the vice president now directly owns 3,350 shares of the company’s stock, valued at $1,986,282. This trade represents a 20.24 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,927 shares of company stock valued at $12,807,811. Company insiders own 0.39% of the company’s stock.

Analysts Set New Price Targets

PH has been the topic of a number of recent analyst reports. UBS Group began coverage on Parker-Hannifin in a research note on Wednesday. They set a “buy” rating and a $842.00 price target on the stock. StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. KeyCorp increased their price objective on shares of Parker-Hannifin from $640.00 to $725.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Barclays boosted their target price on shares of Parker-Hannifin from $650.00 to $703.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Finally, Mizuho lifted their price target on shares of Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and a consensus target price of $688.07.

Parker-Hannifin Stock Performance

Shares of NYSE PH opened at $698.91 on Friday. Parker-Hannifin Co. has a 12 month low of $425.20 and a 12 month high of $711.60. The business’s 50 day moving average is $633.64 and its two-hundred day moving average is $573.94. The company has a market cap of $89.96 billion, a P/E ratio of 31.57, a P/E/G ratio of 2.85 and a beta of 1.43. 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 quarterly 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. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The firm had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same quarter in the prior year, the firm posted $5.96 EPS. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, equities analysts expect that Parker-Hannifin Co. will post 26.77 EPS for the current year.

Parker-Hannifin Dividend Announcement

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 $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date is Friday, November 8th. Parker-Hannifin’s dividend payout ratio is currently 29.45%.

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.