Parker-Hannifin Co. (NYSE:PH) Shares Acquired by Drive Wealth Management LLC

Drive Wealth Management LLC raised its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 3.3% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 648 shares of the industrial products company’s stock after purchasing an additional 21 shares during the quarter. Drive Wealth Management LLC’s holdings in Parker-Hannifin were worth $410,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Boston Partners increased its holdings in shares of Parker-Hannifin by 4.1% during the 1st quarter. Boston Partners now owns 1,111,720 shares of the industrial products company’s stock worth $617,878,000 after buying an additional 43,535 shares during the last quarter. Legal & General Group Plc increased its stake in Parker-Hannifin by 1.3% during the second quarter. Legal & General Group Plc now owns 985,280 shares of the industrial products company’s stock worth $498,366,000 after acquiring an additional 12,615 shares during the last quarter. AMF Tjanstepension AB lifted its stake in shares of Parker-Hannifin by 23.0% in the 2nd quarter. AMF Tjanstepension AB now owns 758,262 shares of the industrial products company’s stock valued at $383,594,000 after purchasing an additional 141,862 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of Parker-Hannifin by 11.6% in the 2nd quarter. Bank of Montreal Can now owns 735,755 shares of the industrial products company’s stock valued at $378,572,000 after purchasing an additional 76,629 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Parker-Hannifin by 18.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 652,539 shares of the industrial products company’s stock worth $330,061,000 after purchasing an additional 99,959 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Down 1.0 %

PH stock opened at $691.68 on Tuesday. The stock has a market cap of $89.03 billion, a PE ratio of 31.24, a price-to-earnings-growth ratio of 2.82 and a beta of 1.43. The firm’s 50-day simple moving average is $638.42 and its 200 day simple moving average is $576.52. Parker-Hannifin Co. has a fifty-two week low of $426.49 and a fifty-two week high of $711.60. 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. 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 for the quarter, compared to analysts’ expectations of $4.90 billion. During the same period last year, the firm earned $5.96 EPS. The firm’s revenue was up 1.2% compared to the same quarter last year. As a group, sell-side analysts predict that Parker-Hannifin Co. will post 26.77 EPS for the current year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Friday, November 8th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 29.45%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PH shares. Raymond James lifted their price target 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. UBS Group initiated coverage on shares of Parker-Hannifin in a research report on Wednesday, November 13th. They set a “buy” rating and a $842.00 price target for the company. Deutsche Bank Aktiengesellschaft raised their price objective on Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Evercore ISI upped their target price on Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Finally, Stifel Nicolaus downgraded Parker-Hannifin from a “buy” rating to a “hold” rating and set a $691.00 target price on the stock. in a report on Monday. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $688.07.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, VP Joseph R. Leonti sold 5,877 shares of the company’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $631.04, for a total value of $3,708,622.08. Following the completion of the sale, the vice president now directly owns 15,350 shares of the company’s stock, valued at approximately $9,686,464. This represents a 27.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Andrew D. Ross sold 4,864 shares of the firm’s stock in a transaction that occurred 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. The trade was a 27.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,927 shares of company stock worth $12,807,811 over the last quarter. 0.39% of the stock is currently owned by company insiders.

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.