Commonwealth Equity Services LLC Grows Holdings in Parker-Hannifin Corp (PH)

Commonwealth Equity Services LLC boosted its holdings in shares of Parker-Hannifin Corp (NYSE:PH) by 6.4% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 18,496 shares of the industrial products company’s stock after buying an additional 1,117 shares during the period. Commonwealth Equity Services LLC’s holdings in Parker-Hannifin were worth $3,402,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PH. Atria Investments LLC increased its holdings in Parker-Hannifin by 33.4% in the second quarter. Atria Investments LLC now owns 1,571 shares of the industrial products company’s stock valued at $245,000 after buying an additional 393 shares during the last quarter. Cornerstone Wealth Management LLC increased its holdings in Parker-Hannifin by 16,700.2% in the second quarter. Cornerstone Wealth Management LLC now owns 420,341 shares of the industrial products company’s stock valued at $2,693,000 after buying an additional 417,839 shares during the last quarter. Wetherby Asset Management Inc. increased its holdings in Parker-Hannifin by 10.9% in the second quarter. Wetherby Asset Management Inc. now owns 4,748 shares of the industrial products company’s stock valued at $740,000 after buying an additional 467 shares during the last quarter. Bessemer Group Inc. increased its holdings in Parker-Hannifin by 14,869.5% in the second quarter. Bessemer Group Inc. now owns 330,975 shares of the industrial products company’s stock valued at $51,582,000 after buying an additional 328,764 shares during the last quarter. Finally, Thomas White International Ltd. bought a new stake in Parker-Hannifin in the second quarter valued at about $596,000. Hedge funds and other institutional investors own 78.23% of the company’s stock.

Shares of PH stock opened at $164.47 on Thursday. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.60 and a quick ratio of 1.07. Parker-Hannifin Corp has a 52 week low of $143.00 and a 52 week high of $212.80. The company has a market capitalization of $22.18 billion, a price-to-earnings ratio of 15.78, a P/E/G ratio of 1.28 and a beta of 1.52.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, November 1st. The industrial products company reported $2.84 EPS for the quarter, beating the Zacks’ consensus estimate of $2.53 by $0.31. Parker-Hannifin had a return on equity of 25.49% and a net margin of 7.98%. The company had revenue of $3.48 billion during the quarter, compared to the consensus estimate of $3.54 billion. During the same period in the previous year, the firm posted $2.24 earnings per share. Parker-Hannifin’s quarterly revenue was up 3.4% compared to the same quarter last year. On average, analysts predict that Parker-Hannifin Corp will post 11.61 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 7th. Shareholders of record on Friday, November 9th will be paid a $0.76 dividend. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $3.04 dividend on an annualized basis and a yield of 1.85%. Parker-Hannifin’s payout ratio is currently 29.17%.

PH has been the subject of several research analyst reports. Morgan Stanley initiated coverage on Parker-Hannifin in a report on Monday, August 20th. They issued an “equal weight” rating and a $185.00 price objective for the company. Evercore ISI raised Parker-Hannifin from an “in-line” rating to an “outperform” rating in a report on Monday, August 6th. Citigroup lowered their price objective on Parker-Hannifin from $185.00 to $178.00 and set a “neutral” rating for the company in a report on Friday, November 2nd. Wells Fargo & Co raised Parker-Hannifin from a “market perform” rating to an “outperform” rating and set a $193.00 price objective for the company in a report on Friday, November 2nd. Finally, Buckingham Research raised Parker-Hannifin from a “neutral” rating to a “buy” rating in a report on Friday, September 14th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company’s stock. Parker-Hannifin currently has an average rating of “Hold” and a consensus target price of $186.72.

In other news, VP Joseph R. Leonti sold 1,605 shares of the business’s stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $176.56, for a total transaction of $283,378.80. Following the completion of the transaction, the vice president now directly owns 15,731 shares in the company, valued at $2,777,465.36. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP William R. Bowman sold 2,400 shares of the business’s stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $175.36, for a total value of $420,864.00. Following the transaction, the vice president now owns 1,325 shares of the company’s stock, valued at $232,352. The disclosure for this sale can be found here. Insiders own 1.12% of the company’s stock.

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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 in two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment provides static and dynamic sealing devices; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; hydraulic, pneumatic, and electromechanical components and systems for builders and users of industrial and mobile machinery and equipment; and critical flow components for process instrumentation, healthcare, and ultra-high-purity applications, as well as components for use in refrigeration and air conditioning systems, and in fluid control applications for processing, fuel dispensing, beverage dispensing, and mobile emissions.

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

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