Parker-Hannifin Corporation (PH) Position Lowered by Advisors Asset Management Inc.

Advisors Asset Management Inc. decreased its stake in Parker-Hannifin Corporation (NYSE:PH) by 1.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,908 shares of the industrial products company’s stock after selling 555 shares during the period. Advisors Asset Management Inc.’s holdings in Parker-Hannifin Corporation were worth $5,234,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Israel Discount Bank of New York raised its position in Parker-Hannifin Corporation by 31.6% during the second quarter. Israel Discount Bank of New York now owns 625 shares of the industrial products company’s stock worth $100,000 after acquiring an additional 150 shares during the last quarter. Parallel Advisors LLC raised its position in Parker-Hannifin Corporation by 4.1% during the second quarter. Parallel Advisors LLC now owns 612 shares of the industrial products company’s stock worth $102,000 after acquiring an additional 24 shares during the last quarter. IHT Wealth Management LLC raised its position in Parker-Hannifin Corporation by 20.8% during the second quarter. IHT Wealth Management LLC now owns 116 shares of the industrial products company’s stock worth $119,000 after acquiring an additional 20 shares during the last quarter. BT Investment Management Ltd acquired a new position in Parker-Hannifin Corporation during the second quarter worth about $124,000. Finally, Sun Life Financial INC raised its position in Parker-Hannifin Corporation by 8,108.3% during the second quarter. Sun Life Financial INC now owns 985 shares of the industrial products company’s stock worth $157,000 after acquiring an additional 973 shares during the last quarter. Hedge funds and other institutional investors own 78.35% of the company’s stock.

Parker-Hannifin Corporation (PH) traded up $0.56 on Tuesday, reaching $182.90. 529,700 shares of the company traded hands, compared to its average volume of 1,010,851. The firm has a market capitalization of $24,290.00, a PE ratio of 20.93, a PEG ratio of 1.64 and a beta of 1.40. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 0.87. Parker-Hannifin Corporation has a 1 year low of $134.03 and a 1 year high of $189.83.

Parker-Hannifin Corporation (NYSE:PH) last posted its quarterly earnings results on Thursday, November 2nd. The industrial products company reported $2.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.02 by $0.22. Parker-Hannifin Corporation had a net margin of 8.37% and a return on equity of 23.61%. The firm had revenue of $3.36 billion for the quarter, compared to analysts’ expectations of $3.31 billion. During the same period in the prior year, the company posted $1.61 earnings per share. The firm’s quarterly revenue was up 22.7% on a year-over-year basis. sell-side analysts predict that Parker-Hannifin Corporation will post 9.57 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 1st. Shareholders of record on Friday, November 10th will be paid a dividend of $0.66 per share. The ex-dividend date is Thursday, November 9th. This represents a $2.64 annualized dividend and a yield of 1.44%. Parker-Hannifin Corporation’s payout ratio is 33.89%.

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In other news, VP Robert W. Bond sold 5,517 shares of the company’s stock in a transaction dated Friday, November 17th. The shares were sold at an average price of $181.72, for a total transaction of $1,002,549.24. Following the completion of the transaction, the vice president now owns 28,265 shares in the company, valued at $5,136,315.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO Lee C. Banks sold 5,286 shares of the company’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $186.38, for a total transaction of $985,204.68. Following the transaction, the chief operating officer now owns 112,808 shares of the company’s stock, valued at approximately $21,025,155.04. The disclosure for this sale can be found here. In the last quarter, insiders have sold 22,337 shares of company stock valued at $3,971,914. 1.12% of the stock is owned by insiders.

A number of equities research analysts have recently commented on PH shares. Stifel Nicolaus set a $198.00 price target on shares of Parker-Hannifin Corporation and gave the stock a “buy” rating in a report on Friday, August 4th. ValuEngine upgraded shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating in a report on Friday, September 1st. Zacks Investment Research upgraded shares of Parker-Hannifin Corporation from a “hold” rating to a “buy” rating and set a $198.00 price target for the company in a report on Tuesday, October 10th. KeyCorp reiterated a “buy” rating and set a $200.00 price target on shares of Parker-Hannifin Corporation in a report on Thursday, October 12th. Finally, Buckingham Research began coverage on shares of Parker-Hannifin Corporation in a report on Tuesday, October 17th. They issued a “buy” rating and a $205.00 target price for the company. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have issued a buy rating to the stock. The stock currently has an average rating of “Buy” and a consensus price target of $188.95.

Parker-Hannifin Corporation Profile

Parker-Hannifin Corporation is a manufacturer of motion and control technologies and systems, providing precision engineered solutions for a range of mobile, industrial and aerospace markets. The Company operates through segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial Segment is an aggregation of several business units, which manufacture motion-control and fluid power system components for builders and users of various types of manufacturing, packaging, processing, transportation, agricultural, construction, and military vehicles and equipment.

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Institutional Ownership by Quarter for Parker-Hannifin Corporation (NYSE:PH)

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