Romano Brothers AND Company Cuts Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Romano Brothers AND Company cut its holdings in Parker-Hannifin Co. (NYSE:PH) by 2.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 860 shares of the industrial products company’s stock after selling 26 shares during the period. Romano Brothers AND Company’s holdings in Parker-Hannifin were worth $547,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of PH. State Street Corp increased its position in Parker-Hannifin by 13.8% in 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 buying an additional 753,143 shares during the last quarter. FMR LLC raised its position in shares of Parker-Hannifin by 7.1% in the third quarter. FMR LLC now owns 4,116,257 shares of the industrial products company’s stock worth $2,600,733,000 after buying an additional 272,531 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of Parker-Hannifin by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,577,831 shares of the industrial products company’s stock valued at $1,623,689,000 after acquiring an additional 29,408 shares during the last quarter. Wellington Management Group LLP lifted its position in Parker-Hannifin by 39.9% during the third quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company’s stock valued at $1,249,645,000 after purchasing an additional 564,365 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in Parker-Hannifin by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,593,970 shares of the industrial products company’s stock worth $1,007,102,000 after acquiring an additional 59,432 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Trading Up 1.8 %

Parker-Hannifin stock opened at $670.75 on Monday. The firm has a market capitalization of $86.34 billion, a price-to-earnings ratio of 30.30, a P/E/G ratio of 2.54 and a beta of 1.45. Parker-Hannifin Co. has a 12-month low of $458.09 and a 12-month high of $712.42. The firm has a 50 day moving average of $670.95 and a 200 day moving average of $619.29. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52.

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

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 8th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 0.97%. The ex-dividend date of this dividend was Friday, November 8th. Parker-Hannifin’s payout ratio is 29.45%.

Insider Activity

In related news, VP Joseph R. Leonti sold 5,877 shares of Parker-Hannifin stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $631.04, for a total transaction of $3,708,622.08. Following the completion of the transaction, the vice president now directly owns 15,350 shares of the company’s stock, valued at approximately $9,686,464. The trade was a 27.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Andrew D. Ross sold 4,864 shares of the stock in a transaction dated 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 completion of the sale, the chief operating officer now directly owns 13,120 shares in the company, valued at $9,263,244.80. This trade represents a 27.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,077 shares of company stock worth $12,303,829. 0.39% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Argus raised their price target on shares of Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Wolfe Research raised shares of Parker-Hannifin from a “peer perform” rating to an “outperform” rating and set a $786.00 price objective on the stock in a research note on Thursday, December 12th. Stifel Nicolaus cut 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. Robert W. Baird raised their price target on shares of Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $722.94.

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.