Strengthening Families & Communities LLC Boosts Holdings in Parker-Hannifin Co. (NYSE:PH)

Strengthening Families & Communities LLC grew its position in Parker-Hannifin Co. (NYSE:PH) by 5.2% during the 3rd quarter, HoldingsChannel reports. The fund owned 5,839 shares of the industrial products company’s stock after purchasing an additional 288 shares during the period. Parker-Hannifin comprises about 0.9% of Strengthening Families & Communities LLC’s investment portfolio, making the stock its 24th largest holding. Strengthening Families & Communities LLC’s holdings in Parker-Hannifin were worth $3,689,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Wilkinson Global Asset Management LLC raised its position in Parker-Hannifin by 59.1% in the 3rd quarter. Wilkinson Global Asset Management LLC now owns 39,093 shares of the industrial products company’s stock worth $24,700,000 after purchasing an additional 14,526 shares during the period. UniSuper Management Pty Ltd raised its holdings in shares of Parker-Hannifin by 198.7% in the first quarter. UniSuper Management Pty Ltd now owns 3,441 shares of the industrial products company’s stock worth $1,912,000 after buying an additional 2,289 shares during the period. Canada Pension Plan Investment Board lifted its stake in shares of Parker-Hannifin by 19.9% during the 1st quarter. Canada Pension Plan Investment Board now owns 69,270 shares of the industrial products company’s stock worth $38,500,000 after acquiring an additional 11,510 shares during the last quarter. Public Employees Retirement System of Ohio boosted its holdings in Parker-Hannifin by 1.8% during the 1st quarter. Public Employees Retirement System of Ohio now owns 54,535 shares of the industrial products company’s stock valued at $30,310,000 after acquiring an additional 982 shares during the period. Finally, Swedbank AB bought a new position in Parker-Hannifin in the 1st quarter valued at $20,140,000. Institutional investors own 82.44% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on the stock. Evercore ISI raised their price target on shares of Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th. Raymond James upped their target price on Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Barclays lifted their price objective on Parker-Hannifin from $650.00 to $703.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Finally, Robert W. Baird increased their target price on shares of Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Two 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, the stock has a consensus rating of “Moderate Buy” and an average price target of $688.07.

Parker-Hannifin Price Performance

NYSE PH opened at $698.91 on Monday. The firm’s fifty day simple moving average is $636.19 and its two-hundred day simple moving average is $575.38. The firm has a market capitalization of $89.96 billion, a P/E ratio of 31.57, a P/E/G ratio of 2.82 and a beta of 1.43. 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 $425.20 and a 12-month high of $711.60.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, topping the consensus estimate of $6.14 by $0.06. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The firm had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.90 billion. During the same period in the previous year, the business earned $5.96 EPS. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. Analysts forecast that Parker-Hannifin Co. will post 26.77 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 8th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend is Friday, November 8th. Parker-Hannifin’s payout ratio is currently 29.45%.

Insider Buying and Selling

In other Parker-Hannifin news, CEO Jennifer A. Parmentier sold 4,906 shares of the firm’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $704.69, for a total transaction of $3,457,209.14. Following the completion of the transaction, the chief executive officer now directly owns 33,607 shares of the company’s stock, valued at approximately $23,682,516.83. This trade represents a 12.74 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO Andrew D. Ross sold 4,864 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $706.04, for a total transaction of $3,434,178.56. Following the transaction, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at approximately $9,263,244.80. This trade represents a 27.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,927 shares of company stock worth $12,807,811 in the last three months. Corporate 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.