Parker-Hannifin Co. (NYSE:PH) Shares Sold by Sumitomo Life Insurance Co.

Sumitomo Life Insurance Co. reduced its stake in Parker-Hannifin Co. (NYSE:PH) by 1.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,206 shares of the industrial products company’s stock after selling 81 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Parker-Hannifin were worth $3,311,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. State Street Corp lifted its holdings in Parker-Hannifin by 13.8% in the 3rd quarter. State Street Corp now owns 6,202,235 shares of the industrial products company’s stock valued at $3,918,696,000 after purchasing an additional 753,143 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of 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 buying an additional 564,365 shares during the period. International Assets Investment Management LLC boosted its position in Parker-Hannifin by 64,081.5% during the third quarter. International Assets Investment Management LLC now owns 381,880 shares of the industrial products company’s stock worth $241,279,000 after acquiring an additional 381,285 shares during the last quarter. World Investment Advisors LLC purchased a new stake in Parker-Hannifin in the 3rd quarter worth approximately $226,570,000. Finally, Mizuho Securities USA LLC raised its holdings in Parker-Hannifin by 3,566.4% in the 3rd quarter. Mizuho Securities USA LLC now owns 363,302 shares of the industrial products company’s stock valued at $229,541,000 after acquiring an additional 353,393 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

PH stock opened at $665.56 on Wednesday. The firm has a market cap of $85.67 billion, a P/E ratio of 30.06, a price-to-earnings-growth ratio of 2.76 and a beta of 1.45. 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 1 year low of $463.16 and a 1 year high of $712.42. The stock has a 50-day simple moving average of $667.79 and a 200-day simple moving average of $626.79.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $4.90 billion. During the same quarter last year, the company earned $5.96 earnings per share. Parker-Hannifin’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, equities analysts predict that Parker-Hannifin Co. will post 26.73 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be issued a $1.63 dividend. The ex-dividend date is Friday, February 7th. This represents a $6.52 dividend on an annualized basis and a yield of 0.98%. Parker-Hannifin’s dividend payout ratio is currently 29.45%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on the company. TD Cowen raised their price objective on Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. KeyCorp lifted their price target on Parker-Hannifin from $725.00 to $775.00 and gave the company an “overweight” rating in a report on Thursday, November 21st. Argus upped their price objective on shares of Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Wells Fargo & Company decreased their target price on shares of Parker-Hannifin from $770.00 to $710.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Finally, Mizuho upped their price target on shares of Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $722.81.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, VP Joseph R. Leonti sold 5,877 shares of the firm’s stock in a transaction on 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 $9,686,464. This trade represents a 27.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 completion of the sale, the vice president now owns 5,465 shares in the company, valued at approximately $3,831,839.40. This trade represents a 30.78 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,077 shares of company stock valued at $12,303,829 in the last ninety days. Insiders own 0.39% of the company’s stock.

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.