Voya Financial Advisors Inc. Grows Position in Parker-Hannifin Co. (NYSE:PH)

Voya Financial Advisors Inc. raised its position in shares of Parker-Hannifin Co. (NYSE:PH) by 31.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,380 shares of the industrial products company’s stock after buying an additional 333 shares during the quarter. Voya Financial Advisors Inc.’s holdings in Parker-Hannifin were worth $873,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the company. Wellington Management Group LLP grew its holdings in Parker-Hannifin by 39.9% during the 3rd quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company’s stock valued at $1,249,645,000 after buying an additional 564,365 shares in the last quarter. Worldquant Millennium Advisors LLC grew its holdings in Parker-Hannifin by 10.3% during the 3rd quarter. Worldquant Millennium Advisors LLC now owns 111,320 shares of the industrial products company’s stock valued at $70,334,000 after buying an additional 10,384 shares in the last quarter. Stansberry Asset Management LLC grew its holdings in Parker-Hannifin by 6.4% during the 3rd quarter. Stansberry Asset Management LLC now owns 12,177 shares of the industrial products company’s stock valued at $7,694,000 after buying an additional 730 shares in the last quarter. State Street Corp grew its holdings in Parker-Hannifin by 13.8% during the 3rd quarter. State Street Corp now owns 6,202,235 shares of the industrial products company’s stock valued at $3,918,696,000 after buying an additional 753,143 shares in the last quarter. Finally, Stifel Financial Corp boosted its holdings in shares of Parker-Hannifin by 9.3% in the 3rd quarter. Stifel Financial Corp now owns 264,722 shares of the industrial products company’s stock worth $167,267,000 after purchasing an additional 22,572 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Insider Buying and Selling at Parker-Hannifin

In other news, CEO Jennifer A. Parmentier sold 4,906 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $704.69, for a total value of $3,457,209.14. Following the completion of the transaction, the chief executive officer now owns 33,607 shares of the company’s stock, valued at $23,682,516.83. The trade was a 12.74 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Thomas C. Gentile sold 2,430 shares of the company’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total value of $1,703,818.80. Following the completion of the transaction, the vice president now directly owns 5,465 shares of the company’s stock, valued at $3,831,839.40. The trade was a 30.78 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,077 shares of company stock worth $12,303,829. 0.39% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of equities analysts have recently commented on PH shares. TD Cowen lifted their target price on Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. Raymond James lifted 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. Mizuho lifted their target price on Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Finally, Barclays raised their price target on Parker-Hannifin from $703.00 to $800.00 and gave the stock an “overweight” rating in a research note on Thursday. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $697.87.

Parker-Hannifin Trading Down 0.2 %

Shares of NYSE:PH opened at $694.81 on Friday. Parker-Hannifin Co. has a 12-month low of $431.98 and a 12-month high of $712.42. The business’s fifty day simple moving average is $662.19 and its 200-day simple moving average is $589.65. The company has a market capitalization of $89.44 billion, a PE ratio of 31.38, a P/E/G ratio of 2.83 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 (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. As a group, equities research analysts predict that Parker-Hannifin Co. will post 26.77 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 8th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $6.52 annualized dividend and a yield of 0.94%. Parker-Hannifin’s payout ratio is presently 29.45%.

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.