562 Shares in Parker-Hannifin Co. (NYSE:PH) Acquired by Strategy Asset Managers LLC

Strategy Asset Managers LLC purchased a new stake in Parker-Hannifin Co. (NYSE:PH) in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 562 shares of the industrial products company’s stock, valued at approximately $355,000.

Several other institutional investors have also modified their holdings of the business. Boston Partners grew its stake in 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 purchasing an additional 43,535 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Parker-Hannifin by 1.3% in the 2nd quarter. Legal & General Group Plc now owns 985,280 shares of the industrial products company’s stock valued at $498,366,000 after buying an additional 12,615 shares during the period. AMF Tjanstepension AB grew its position in shares of 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 buying an additional 141,862 shares in the last quarter. Bank of Montreal Can increased its stake in shares of Parker-Hannifin by 11.6% during the second quarter. Bank of Montreal Can now owns 735,755 shares of the industrial products company’s stock worth $378,572,000 after buying an additional 76,629 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in Parker-Hannifin by 18.1% in the second quarter. Envestnet Asset Management Inc. now owns 652,539 shares of the industrial products company’s stock valued at $330,061,000 after acquiring an additional 99,959 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on PH. UBS Group started coverage on shares of Parker-Hannifin in a report on Wednesday, November 13th. They set a “buy” rating and a $842.00 price target for the company. Raymond James boosted their target price on shares of Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. Evercore ISI increased their target price on Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a report on Monday, August 19th. KeyCorp lifted their price target on Parker-Hannifin from $640.00 to $725.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Finally, Wells Fargo & Company increased their price objective on Parker-Hannifin from $640.00 to $710.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, Parker-Hannifin has a consensus rating of “Moderate Buy” and an average target price of $688.07.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock opened at $690.43 on Thursday. The firm’s fifty day simple moving average is $642.71 and its 200-day simple moving average is $578.38. Parker-Hannifin Co. has a 12 month low of $426.49 and a 12 month high of $711.60. The stock has a market capitalization of $88.87 billion, a price-to-earnings ratio of 31.18, a PEG ratio of 2.82 and a beta of 1.43. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 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 analyst estimates of $4.90 billion. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. Parker-Hannifin’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the business posted $5.96 earnings per share. As a group, equities analysts forecast that Parker-Hannifin Co. will post 26.77 earnings per share 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 dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend is Friday, November 8th. Parker-Hannifin’s dividend payout ratio is presently 29.45%.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,430 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the transaction, the vice president now directly owns 5,465 shares in the company, valued at approximately $3,831,839.40. This represents a 30.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Joseph R. Leonti sold 5,877 shares of the firm’s stock in a transaction that occurred on 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 transaction, the vice president now directly owns 15,350 shares of the company’s stock, valued at $9,686,464. The trade was a 27.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,927 shares of company stock worth $12,807,811 in the last three months. Insiders own 0.39% of the company’s stock.

Parker-Hannifin Company 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.