Pinnacle Financial Partners Inc Grows Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Pinnacle Financial Partners Inc lifted its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 2.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,240 shares of the industrial products company’s stock after acquiring an additional 74 shares during the quarter. Pinnacle Financial Partners Inc’s holdings in Parker-Hannifin were worth $2,047,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in PH. Russell Investments Group Ltd. grew its stake in shares of Parker-Hannifin by 14.5% in the first quarter. Russell Investments Group Ltd. now owns 40,778 shares of the industrial products company’s stock valued at $22,689,000 after buying an additional 5,174 shares in the last quarter. Bleakley Financial Group LLC raised its stake in shares of Parker-Hannifin by 1.5% during the first quarter. Bleakley Financial Group LLC now owns 2,570 shares of the industrial products company’s stock valued at $1,428,000 after purchasing an additional 39 shares during the period. Edmond DE Rothschild Holding S.A. acquired a new position in shares of Parker-Hannifin during the first quarter worth $143,000. TD Asset Management Inc boosted its stake in shares of Parker-Hannifin by 152.1% in the first quarter. TD Asset Management Inc now owns 132,231 shares of the industrial products company’s stock valued at $73,493,000 after purchasing an additional 79,774 shares during the period. Finally, Kingsview Wealth Management LLC grew its holdings in Parker-Hannifin by 3.4% during the 1st quarter. Kingsview Wealth Management LLC now owns 1,755 shares of the industrial products company’s stock valued at $976,000 after purchasing an additional 58 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

Shares of NYSE PH opened at $706.54 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57. The firm has a market capitalization of $90.95 billion, a PE ratio of 31.91, a P/E/G ratio of 2.82 and a beta of 1.43. Parker-Hannifin Co. has a 1-year low of $422.36 and a 1-year high of $711.60. The business’s fifty day moving average price is $628.60 and its two-hundred day moving average price is $572.14.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, topping analysts’ consensus estimates of $6.14 by $0.06. The business had revenue of $4.90 billion for the quarter, compared to analysts’ expectations 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 last year, the company earned $5.96 EPS. On average, research analysts expect that Parker-Hannifin Co. will post 26.77 EPS for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be paid 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%.

Insider Activity

In related news, VP Berend Bracht sold 850 shares of the 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 completion of the transaction, the vice president now owns 3,350 shares in the company, valued at $1,986,282. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other news, VP Berend Bracht sold 850 shares of Parker-Hannifin stock in a transaction on Monday, August 26th. The stock was sold at an average price of $592.92, for a total transaction of $503,982.00. Following the transaction, the vice president now directly owns 3,350 shares in the company, valued at approximately $1,986,282. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Andrew D. Ross sold 4,864 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total value of $3,434,178.56. Following the completion of the sale, the chief operating officer now owns 13,120 shares of the company’s stock, valued at approximately $9,263,244.80. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,927 shares of company stock valued at $12,807,811. Company insiders own 0.39% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the stock. StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, October 12th. 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 report on Friday, August 9th. UBS Group initiated coverage on Parker-Hannifin in a research report on Wednesday. They issued a “buy” rating and a $842.00 target price on the stock. Robert W. Baird raised their price target on shares of Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Argus upped their price target on shares of Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. Based on data from MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus price target of $688.07.

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.