Parker-Hannifin Co. (NYSE:PH) Shares Sold by First County Bank CT

First County Bank CT lessened its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 16.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 559 shares of the industrial products company’s stock after selling 107 shares during the quarter. First County Bank CT’s holdings in Parker-Hannifin were worth $353,000 at the end of the most recent quarter.

Several other institutional investors have also modified their holdings of the stock. International Assets Investment Management LLC raised its holdings in Parker-Hannifin by 64,081.5% in the 3rd quarter. International Assets Investment Management LLC now owns 381,880 shares of the industrial products company’s stock valued at $241,279,000 after buying an additional 381,285 shares during the period. Mizuho Securities USA LLC increased its stake 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 worth $229,541,000 after purchasing an additional 353,393 shares during the period. AMF Tjanstepension AB increased its stake in Parker-Hannifin by 23.0% during the second quarter. AMF Tjanstepension AB now owns 758,262 shares of the industrial products company’s stock worth $383,594,000 after purchasing an additional 141,862 shares during the period. Mackenzie Financial Corp increased its stake in Parker-Hannifin by 107.7% during the second quarter. Mackenzie Financial Corp now owns 271,717 shares of the industrial products company’s stock worth $137,437,000 after purchasing an additional 140,898 shares during the period. Finally, Swedbank AB increased its stake in Parker-Hannifin by 377.8% during the third quarter. Swedbank AB now owns 158,085 shares of the industrial products company’s stock worth $99,881,000 after purchasing an additional 125,000 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Trading Up 0.6 %

NYSE:PH opened at $706.87 on Friday. The stock has a fifty day moving average price of $647.32 and a two-hundred day moving average price of $580.33. The stock has a market capitalization of $90.99 billion, a price-to-earnings ratio of 31.93, a PEG ratio of 2.84 and a beta of 1.43. 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 1 year low of $426.49 and a 1 year high of $711.60.

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

Parker-Hannifin Dividend Announcement

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. This represents a $6.52 annualized dividend and a yield of 0.92%. The ex-dividend date is Friday, November 8th. Parker-Hannifin’s dividend payout ratio (DPR) is 29.45%.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the company. Mizuho boosted their price objective on Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Robert W. Baird upped 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. Evercore ISI upped their price target on Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Deutsche Bank Aktiengesellschaft boosted their price objective on Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, UBS Group started coverage on Parker-Hannifin in a research note on Wednesday, November 13th. They issued a “buy” rating and a $842.00 price objective for the company. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $691.40.

Insider Buying and Selling at Parker-Hannifin

In related news, COO Andrew D. Ross sold 4,864 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $706.04, for a total transaction of $3,434,178.56. Following the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jennifer A. Parmentier sold 4,906 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $704.69, for a total value of $3,457,209.14. Following the sale, the chief executive officer now directly owns 33,607 shares in the company, valued at approximately $23,682,516.83. The trade was a 12.74 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,927 shares of company stock valued at $12,807,811. 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.