Two Sigma Advisers LP Sells 73,600 Shares of Parker-Hannifin Co. (NYSE:PH)

Two Sigma Advisers LP cut its position in shares of Parker-Hannifin Co. (NYSE:PH) by 59.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,900 shares of the industrial products company’s stock after selling 73,600 shares during the period. Two Sigma Advisers LP’s holdings in Parker-Hannifin were worth $31,528,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Capital Investment Advisors LLC acquired a new stake in Parker-Hannifin during the second quarter valued at approximately $208,000. Opal Wealth Advisors LLC acquired a new stake in Parker-Hannifin in the 2nd quarter valued at $39,000. Diversify Advisory Services LLC grew its position in Parker-Hannifin by 16.5% in the second quarter. Diversify Advisory Services LLC now owns 430 shares of the industrial products company’s stock valued at $219,000 after acquiring an additional 61 shares during the period. Czech National Bank raised its stake in Parker-Hannifin by 8.4% during the second quarter. Czech National Bank now owns 24,494 shares of the industrial products company’s stock worth $12,389,000 after acquiring an additional 1,900 shares in the last quarter. Finally, Aspire Private Capital LLC boosted its stake in shares of Parker-Hannifin by 6.6% in the 2nd quarter. Aspire Private Capital LLC now owns 2,439 shares of the industrial products company’s stock valued at $1,234,000 after purchasing an additional 150 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Price Performance

Shares of PH opened at $696.16 on Friday. The stock has a market cap of $89.61 billion, a P/E ratio of 31.44, a price-to-earnings-growth ratio of 2.81 and a beta of 1.43. Parker-Hannifin Co. has a 1 year low of $431.98 and a 1 year high of $712.42. The stock’s 50-day moving average price is $663.46 and its two-hundred day moving average price is $590.98. 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 released its quarterly earnings data 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 net margin of 14.47% and a return on equity of 27.95%. The business had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same quarter last year, the firm earned $5.96 EPS. Parker-Hannifin’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, equities analysts predict that Parker-Hannifin Co. will post 26.77 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 8th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.94%. The ex-dividend date was Friday, November 8th. Parker-Hannifin’s payout ratio is presently 29.45%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. TD Cowen increased their target price 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. Evercore ISI raised their price objective on shares of Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. Jefferies Financial Group boosted their target price on Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a report on Friday. StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Finally, KeyCorp boosted their price objective on Parker-Hannifin from $725.00 to $775.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and a consensus target price of $704.88.

Insiders Place Their Bets

In related news, CEO Jennifer A. Parmentier sold 4,906 shares of the firm’s stock in a transaction 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 sale, the chief executive officer now directly owns 33,607 shares in the company, valued at $23,682,516.83. This trade represents a 12.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO Andrew D. Ross sold 4,864 shares of the company’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 completion of the transaction, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at approximately $9,263,244.80. The trade was a 27.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,077 shares of company stock worth $12,303,829. Corporate insiders own 0.39% of the company’s stock.

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.