Parker-Hannifin Co. (NYSE:PH) Shares Sold by Cigna Investments Inc. New

Cigna Investments Inc. New trimmed its holdings in Parker-Hannifin Co. (NYSE:PH) by 1.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,323 shares of the industrial products company’s stock after selling 26 shares during the quarter. Cigna Investments Inc. New’s holdings in Parker-Hannifin were worth $836,000 as of its most recent SEC filing.

Several other hedge funds also recently added to or reduced their stakes in PH. CVA Family Office LLC boosted its holdings in shares of Parker-Hannifin by 3.9% in the 3rd quarter. CVA Family Office LLC now owns 425 shares of the industrial products company’s stock valued at $269,000 after buying an additional 16 shares in the last quarter. Fidelis Capital Partners LLC lifted its position in Parker-Hannifin by 2.3% in the first quarter. Fidelis Capital Partners LLC now owns 851 shares of the industrial products company’s stock valued at $473,000 after acquiring an additional 19 shares during the last quarter. Sonoma Private Wealth LLC boosted its stake in Parker-Hannifin by 2.9% in the third quarter. Sonoma Private Wealth LLC now owns 667 shares of the industrial products company’s stock valued at $421,000 after acquiring an additional 19 shares in the last quarter. American Trust grew its holdings in shares of Parker-Hannifin by 3.2% during the first quarter. American Trust now owns 649 shares of the industrial products company’s stock worth $361,000 after purchasing an additional 20 shares during the last quarter. Finally, TFG Advisers LLC increased its position in shares of Parker-Hannifin by 0.9% during the second quarter. TFG Advisers LLC now owns 2,171 shares of the industrial products company’s stock worth $1,098,000 after purchasing an additional 20 shares in the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PH has been the subject of a number of research analyst reports. Wells Fargo & Company upped their target price on Parker-Hannifin from $640.00 to $710.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Robert W. Baird increased their price objective on Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a report on Friday. Deutsche Bank Aktiengesellschaft raised their target price on shares of Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. TD Cowen upped their price target on shares of Parker-Hannifin from $500.00 to $520.00 and gave the company a “hold” rating in a research report on Wednesday, September 11th. Finally, Barclays raised their price objective on shares of Parker-Hannifin from $650.00 to $703.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $664.57.

Parker-Hannifin Trading Up 1.6 %

NYSE:PH opened at $634.46 on Friday. The stock has a market capitalization of $81.64 billion, a price-to-earnings ratio of 29.12, a PEG ratio of 2.53 and a beta of 1.43. Parker-Hannifin Co. has a 1 year low of $362.49 and a 1 year high of $646.60. The stock has a fifty day moving average price of $614.64 and a two-hundred day moving average price of $564.27. 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 (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 14.27% and a return on equity of 29.08%. The firm had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same quarter last year, the business earned $5.96 earnings per share. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Parker-Hannifin Co. will post 26.68 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company 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 $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is Friday, November 8th. Parker-Hannifin’s dividend payout ratio is currently 29.92%.

Insider Activity at Parker-Hannifin

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

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.