State of Alaska Department of Revenue Has $9.43 Million Holdings in Parker-Hannifin Co. (NYSE:PH)

State of Alaska Department of Revenue boosted its holdings in Parker-Hannifin Co. (NYSE:PH) by 6.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 14,930 shares of the industrial products company’s stock after acquiring an additional 955 shares during the period. State of Alaska Department of Revenue’s holdings in Parker-Hannifin were worth $9,433,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in Parker-Hannifin by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 10,566,391 shares of the industrial products company’s stock valued at $5,872,694,000 after acquiring an additional 105,475 shares during the period. Boston Partners raised its stake in Parker-Hannifin by 4.1% in the 1st quarter. Boston Partners now owns 1,111,720 shares of the industrial products company’s stock valued at $617,878,000 after acquiring an additional 43,535 shares during the period. Legal & General Group Plc raised its stake in 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 acquiring an additional 12,615 shares during the period. AMF Tjanstepension AB raised its stake in Parker-Hannifin by 23.0% in the 2nd 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. Finally, Bank of Montreal Can raised its stake in Parker-Hannifin by 11.6% in the 2nd quarter. Bank of Montreal Can now owns 735,755 shares of the industrial products company’s stock valued at $378,572,000 after acquiring an additional 76,629 shares during the period. Institutional investors own 82.44% of the company’s stock.

Insider Activity at Parker-Hannifin

In related news, Director Joseph Scaminace sold 1,751 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $589.73, for a total value of $1,032,617.23. Following the sale, the director now directly owns 3,900 shares of the company’s stock, valued at $2,299,947. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Director Joseph Scaminace sold 1,751 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $589.73, for a total value of $1,032,617.23. Following the sale, the director now directly owns 3,900 shares of the company’s stock, valued at $2,299,947. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, VP Berend Bracht sold 850 shares of Parker-Hannifin stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $592.92, for a total value of $503,982.00. Following the sale, the vice president now directly owns 3,350 shares in the company, valued at $1,986,282. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PH. Deutsche Bank Aktiengesellschaft increased their price target on Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Barclays increased their price objective on Parker-Hannifin from $650.00 to $703.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company increased their price objective on Parker-Hannifin from $640.00 to $710.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Raymond James increased their price objective on Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. Finally, Stifel Nicolaus increased their price objective on Parker-Hannifin from $633.00 to $691.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and an average price target of $660.57.

Parker-Hannifin Stock Down 0.4 %

Shares of NYSE PH opened at $621.74 on Monday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.55 and a current ratio of 0.93. Parker-Hannifin Co. has a 52 week low of $362.49 and a 52 week high of $646.60. The stock has a market capitalization of $80.00 billion, a P/E ratio of 28.53, a PEG ratio of 2.55 and a beta of 1.43. The stock’s fifty day moving average is $611.33 and its 200 day moving average is $562.35.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, August 8th. The industrial products company reported $6.77 EPS for the quarter, topping analysts’ consensus estimates of $6.22 by $0.55. The company had revenue of $5.19 billion for the quarter, compared to analysts’ expectations of $5.08 billion. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. Parker-Hannifin’s revenue was up 1.8% on a year-over-year basis. During the same quarter last year, the business earned $6.08 earnings per share. Sell-side analysts forecast that Parker-Hannifin Co. will post 26.68 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 8th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend is Friday, November 8th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 29.92%.

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.