Parker-Hannifin Co. (NYSE:PH) Position Boosted by Franklin Resources Inc.

Franklin Resources Inc. raised its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 39.2% during the 3rd quarter, Holdings Channel reports. The fund owned 645,516 shares of the industrial products company’s stock after purchasing an additional 181,859 shares during the period. Franklin Resources Inc.’s holdings in Parker-Hannifin were worth $415,409,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently added to or reduced their stakes in PH. State Street Corp raised its stake in shares of Parker-Hannifin by 13.8% during the third quarter. State Street Corp now owns 6,202,235 shares of the industrial products company’s stock valued at $3,918,696,000 after purchasing an additional 753,143 shares in the last quarter. FMR LLC increased its stake in Parker-Hannifin by 7.1% during the 3rd quarter. FMR LLC now owns 4,116,257 shares of the industrial products company’s stock valued at $2,600,733,000 after buying an additional 272,531 shares during the period. Geode Capital Management LLC raised its position in shares of Parker-Hannifin by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,577,831 shares of the industrial products company’s stock worth $1,623,689,000 after buying an additional 29,408 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Parker-Hannifin by 39.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company’s stock worth $1,249,645,000 after acquiring an additional 564,365 shares during the period. Finally, Charles Schwab Investment Management Inc. boosted its holdings in shares of Parker-Hannifin by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,593,970 shares of the industrial products company’s stock valued at $1,007,102,000 after acquiring an additional 59,432 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Transactions at Parker-Hannifin

In other news, VP Thomas C. Gentile sold 2,430 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the transaction, the vice president now owns 5,465 shares in the company, valued at $3,831,839.40. This represents a 30.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Joseph R. Leonti sold 5,877 shares of Parker-Hannifin stock in a transaction on Friday, November 1st. The shares were sold at an average price of $631.04, for a total transaction of $3,708,622.08. Following the completion of the sale, the vice president now directly owns 15,350 shares of the company’s stock, valued at approximately $9,686,464. The trade was a 27.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,077 shares of company stock valued at $12,303,829 in the last three months. Corporate insiders own 0.39% of the company’s stock.

Parker-Hannifin Price Performance

NYSE PH opened at $671.90 on Friday. 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 $86.49 billion, a price-to-earnings ratio of 30.35, a price-to-earnings-growth ratio of 2.77 and a beta of 1.43. The company has a 50 day simple moving average of $668.62 and a 200-day simple moving average of $595.71. Parker-Hannifin Co. has a 52-week low of $440.00 and a 52-week high of $712.42.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.14 by $0.06. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The company had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.90 billion. During the same quarter last year, the business posted $5.96 EPS. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. Equities research analysts predict that Parker-Hannifin Co. will post 26.75 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 8th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend was Friday, November 8th. Parker-Hannifin’s payout ratio is currently 29.45%.

Analysts Set New Price Targets

Several brokerages recently commented on PH. UBS Group started coverage on Parker-Hannifin in a report on Wednesday, November 13th. They set a “buy” rating and a $842.00 target price on the stock. Stifel Nicolaus lowered Parker-Hannifin from a “buy” rating to a “hold” rating and set a $691.00 price objective for the company. in a report on Monday, November 18th. Jefferies Financial Group raised their target price on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research note on Friday, December 6th. TD Cowen boosted their price target on shares of Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Finally, Evercore ISI raised their price objective on shares of Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. Two analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $709.65.

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.