Aviance Capital Partners LLC Acquires 48 Shares of Parker-Hannifin Co. (NYSE:PH)

Aviance Capital Partners LLC increased its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 9.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 543 shares of the industrial products company’s stock after purchasing an additional 48 shares during the period. Aviance Capital Partners LLC’s holdings in Parker-Hannifin were worth $343,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Boston Partners boosted its position in shares of Parker-Hannifin by 4.1% during the first quarter. Boston Partners now owns 1,111,720 shares of the industrial products company’s stock worth $617,878,000 after purchasing an additional 43,535 shares in the last quarter. Legal & General Group Plc lifted its holdings 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 in the last quarter. AMF Tjanstepension AB grew its stake in Parker-Hannifin by 23.0% in the second quarter. AMF Tjanstepension AB now owns 758,262 shares of the industrial products company’s stock valued at $383,594,000 after acquiring an additional 141,862 shares during the period. Bank of Montreal Can increased its holdings in shares of Parker-Hannifin by 11.6% in the second quarter. Bank of Montreal Can now owns 735,755 shares of the industrial products company’s stock worth $378,572,000 after acquiring an additional 76,629 shares in the last quarter. Finally, Envestnet Asset Management Inc. raised its position in shares of Parker-Hannifin by 18.1% during the second 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. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

Shares of PH opened at $689.56 on Wednesday. The company has a market cap of $88.76 billion, a price-to-earnings ratio of 31.15, a PEG ratio of 2.82 and a beta of 1.43. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. The company’s fifty day simple moving average is $640.59 and its 200 day simple moving average is $577.60. Parker-Hannifin Co. has a 1-year low of $426.49 and a 1-year high of $711.60.

Parker-Hannifin (NYSE:PH) last issued its 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. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The company had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.90 billion. During the same period in the prior year, the firm earned $5.96 EPS. Parker-Hannifin’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, research analysts forecast that Parker-Hannifin Co. will post 26.77 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 8th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date is Friday, November 8th. Parker-Hannifin’s payout ratio is presently 29.45%.

Analysts Set New Price Targets

A number of analysts recently issued reports on PH shares. UBS Group began coverage on Parker-Hannifin in a research note on Wednesday, November 13th. They set a “buy” rating and a $842.00 target price for the company. Evercore ISI increased their price objective on shares of Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Mizuho upped their target price on shares of Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Robert W. Baird lifted their price target on Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, October 12th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $688.07.

Insider Buying and Selling at Parker-Hannifin

In other news, COO Andrew D. Ross sold 4,864 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were 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 owns 13,120 shares in the company, valued at approximately $9,263,244.80. This trade represents a 27.05 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Berend Bracht sold 850 shares of the stock in a transaction dated 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 in the company, valued at approximately $1,986,282. This represents a 20.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,927 shares of company stock valued at $12,807,811 in the last quarter. 0.39% of the stock is currently owned by insiders.

About Parker-Hannifin

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.