Parker-Hannifin Co. (NYSE:PH) Stake Lowered by Mn Services Vermogensbeheer B.V.

Mn Services Vermogensbeheer B.V. trimmed its position in shares of Parker-Hannifin Co. (NYSE:PH) by 1.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 49,974 shares of the industrial products company’s stock after selling 700 shares during the period. Mn Services Vermogensbeheer B.V.’s holdings in Parker-Hannifin were worth $31,575,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PH. Vanguard Group Inc. lifted its holdings in shares of Parker-Hannifin by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 10,566,391 shares of the industrial products company’s stock valued at $5,872,694,000 after buying an additional 105,475 shares during the last quarter. Boston Partners lifted its stake in Parker-Hannifin by 4.1% in the first quarter. Boston Partners now owns 1,111,720 shares of the industrial products company’s stock valued at $617,878,000 after acquiring an additional 43,535 shares during the last quarter. Legal & General Group Plc increased its stake in shares of Parker-Hannifin by 1.3% during the 2nd quarter. Legal & General Group Plc now owns 985,280 shares of the industrial products company’s stock worth $498,366,000 after purchasing an additional 12,615 shares during the last quarter. AMF Tjanstepension AB increased its stake in shares of Parker-Hannifin by 23.0% during the 2nd quarter. AMF Tjanstepension AB now owns 758,262 shares of the industrial products company’s stock worth $383,594,000 after purchasing an additional 141,862 shares during the last quarter. Finally, Bank of Montreal Can lifted its stake in shares of Parker-Hannifin by 11.6% in the 2nd quarter. Bank of Montreal Can now owns 735,755 shares of the industrial products company’s stock valued at $378,572,000 after purchasing an additional 76,629 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

PH has been the topic of several analyst reports. Wells Fargo & Company increased their target price on shares of Parker-Hannifin from $640.00 to $710.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Evercore ISI boosted their target price on Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. Barclays increased their price target on Parker-Hannifin from $650.00 to $703.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. KeyCorp boosted their price objective on shares of Parker-Hannifin from $640.00 to $725.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Finally, StockNews.com upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $664.57.

Insider Activity at Parker-Hannifin

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

Parker-Hannifin Stock Performance

PH stock traded up $4.43 during trading on Monday, reaching $639.46. 166,343 shares of the stock were exchanged, compared to its average volume of 637,165. The stock has a 50 day simple moving average of $615.46 and a 200-day simple moving average of $565.22. The company has a current ratio of 0.96, a quick ratio of 0.55 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $82.28 billion, a P/E ratio of 28.68, a price-to-earnings-growth ratio of 2.57 and a beta of 1.43. Parker-Hannifin Co. has a twelve month low of $399.19 and a twelve month high of $646.60.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data 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. The business had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.90 billion. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. Parker-Hannifin’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the business posted $5.96 earnings per share. As a group, sell-side analysts anticipate that Parker-Hannifin Co. will post 26.67 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be given 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 dividend yield of 1.02%. Parker-Hannifin’s dividend payout ratio (DPR) is currently 29.45%.

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.