CFS Investment Advisory Services LLC Acquires 19 Shares of Parker-Hannifin Co. (NYSE:PH)

CFS Investment Advisory Services LLC increased its position in shares of Parker-Hannifin Co. (NYSE:PH) by 3.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 583 shares of the industrial products company’s stock after purchasing an additional 19 shares during the quarter. CFS Investment Advisory Services LLC’s holdings in Parker-Hannifin were worth $368,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wilkinson Global Asset Management LLC lifted its position in Parker-Hannifin by 59.1% during the third quarter. Wilkinson Global Asset Management LLC now owns 39,093 shares of the industrial products company’s stock worth $24,700,000 after purchasing an additional 14,526 shares during the period. Canada Pension Plan Investment Board lifted its holdings in shares of Parker-Hannifin by 19.9% in the first quarter. Canada Pension Plan Investment Board now owns 69,270 shares of the industrial products company’s stock worth $38,500,000 after acquiring an additional 11,510 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of Parker-Hannifin by 1.8% in the first quarter. Public Employees Retirement System of Ohio now owns 54,535 shares of the industrial products company’s stock worth $30,310,000 after acquiring an additional 982 shares during the last quarter. Swedbank AB bought a new position in shares of Parker-Hannifin in the first quarter worth about $20,140,000. Finally, Ritholtz Wealth Management lifted its holdings in shares of Parker-Hannifin by 88.4% in the third quarter. Ritholtz Wealth Management now owns 1,473 shares of the industrial products company’s stock worth $931,000 after acquiring an additional 691 shares during the last quarter. Institutional investors own 82.44% of the company’s stock.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,430 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Joseph R. Leonti sold 5,877 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $631.04, for a total value of $3,708,622.08. Following the transaction, the vice president now owns 15,350 shares in the company, 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. In the last three months, insiders have sold 18,927 shares of company stock worth $12,807,811. Corporate insiders own 0.39% of the company’s stock.

Parker-Hannifin Stock Performance

NYSE:PH opened at $706.87 on Friday. The company has a market capitalization of $90.99 billion, a PE ratio of 31.93, a P/E/G ratio of 2.84 and a beta of 1.43. The company has a 50 day simple moving average of $647.32 and a two-hundred day simple moving average of $580.33. 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 fifty-two week low of $426.49 and a fifty-two week high of $711.60.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, beating analysts’ consensus estimates of $6.14 by $0.06. The business had revenue of $4.90 billion during 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%. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $5.96 EPS. Research analysts anticipate that Parker-Hannifin Co. will post 26.77 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders 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 0.92%. The ex-dividend date is Friday, November 8th. Parker-Hannifin’s payout ratio is 29.45%.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Barclays increased their target price on shares of Parker-Hannifin from $650.00 to $703.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Evercore ISI increased their target price on shares of Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. UBS Group assumed coverage on shares of Parker-Hannifin in a report on Wednesday, November 13th. They issued a “buy” rating and a $842.00 target price for the company. Wells Fargo & Company increased their target price on shares of Parker-Hannifin from $640.00 to $710.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Finally, Argus upped their price objective on Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $691.40.

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.