Glenmede Trust Co. NA Sells 3,791 Shares of Parker-Hannifin Co. (NYSE:PH)

Glenmede Trust Co. NA cut its stake in Parker-Hannifin Co. (NYSE:PH) by 2.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 176,146 shares of the industrial products company’s stock after selling 3,791 shares during the quarter. Glenmede Trust Co. NA owned about 0.14% of Parker-Hannifin worth $111,293,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Townsquare Capital LLC raised its stake in Parker-Hannifin by 14.9% during the third quarter. Townsquare Capital LLC now owns 5,275 shares of the industrial products company’s stock valued at $3,333,000 after buying an additional 685 shares during the last quarter. Transamerica Financial Advisors Inc. increased its stake in Parker-Hannifin by 2.4% during the 3rd quarter. Transamerica Financial Advisors Inc. now owns 7,731 shares of the industrial products company’s stock valued at $4,885,000 after purchasing an additional 179 shares in the last quarter. BNP Paribas Financial Markets lifted its position in Parker-Hannifin by 58.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 134,612 shares of the industrial products company’s stock valued at $85,051,000 after acquiring an additional 49,483 shares in the last quarter. Avestar Capital LLC increased its holdings in Parker-Hannifin by 11.4% in the 3rd quarter. Avestar Capital LLC now owns 645 shares of the industrial products company’s stock worth $408,000 after buying an additional 66 shares in the last quarter. Finally, Brooklyn Investment Group raised its position in Parker-Hannifin by 4.6% in the 3rd quarter. Brooklyn Investment Group now owns 968 shares of the industrial products company’s stock worth $612,000 after buying an additional 43 shares during the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,430 shares of Parker-Hannifin stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total value of $1,703,818.80. Following the sale, the vice president now directly owns 5,465 shares in the company, valued at approximately $3,831,839.40. The trade was a 30.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Joseph R. Leonti sold 5,877 shares of the business’s stock in a transaction dated 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 completion of the sale, the vice president now owns 15,350 shares in the company, valued at $9,686,464. This represents a 27.69 % decrease in their ownership of the stock. 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 over the last 90 days. Company insiders own 0.39% of the company’s stock.

Parker-Hannifin Price Performance

NYSE PH opened at $706.92 on Wednesday. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. Parker-Hannifin Co. has a 12 month low of $426.49 and a 12 month high of $712.42. The stock has a market cap of $90.99 billion, a price-to-earnings ratio of 31.93, a PEG ratio of 2.84 and a beta of 1.43. The company’s 50 day moving average is $651.50 and its two-hundred day moving average is $582.76.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data 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 net margin of 14.47% and a return on equity of 27.95%. The firm had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.90 billion. During the same period last year, the firm earned $5.96 EPS. The company’s revenue was up 1.2% on a year-over-year basis. As a group, 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 disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be given a $1.63 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $6.52 annualized dividend and a dividend yield of 0.92%. Parker-Hannifin’s payout ratio is 29.45%.

Wall Street Analyst Weigh In

PH has been the subject of a number of research analyst reports. Argus lifted their price target on shares of Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. TD Cowen lifted their target price on shares of Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Deutsche Bank Aktiengesellschaft lifted their price objective on Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, Mizuho increased their target price on Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average 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.