Carderock Capital Management Inc. Sells 1,252 Shares of Parker-Hannifin Co. (NYSE:PH)

Carderock Capital Management Inc. lessened its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 6.0% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 19,653 shares of the industrial products company’s stock after selling 1,252 shares during the quarter. Parker-Hannifin accounts for 2.9% of Carderock Capital Management Inc.’s portfolio, making the stock its 4th largest position. Carderock Capital Management Inc.’s holdings in Parker-Hannifin were worth $12,417,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of PH. Sumitomo Life Insurance Co. grew its holdings in Parker-Hannifin by 1.5% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 5,287 shares of the industrial products company’s stock worth $3,340,000 after acquiring an additional 79 shares in the last quarter. SeaCrest Wealth Management LLC grew its stake in Parker-Hannifin by 12.6% in the third quarter. SeaCrest Wealth Management LLC now owns 1,332 shares of the industrial products company’s stock worth $842,000 after purchasing an additional 149 shares in the last quarter. Asset Dedication LLC increased its holdings in Parker-Hannifin by 8.3% in the third quarter. Asset Dedication LLC now owns 780 shares of the industrial products company’s stock valued at $493,000 after buying an additional 60 shares during the last quarter. Lockerman Financial Group Inc. raised its stake in Parker-Hannifin by 7.8% during the third quarter. Lockerman Financial Group Inc. now owns 541 shares of the industrial products company’s stock valued at $342,000 after buying an additional 39 shares in the last quarter. Finally, Swedbank AB lifted its holdings in Parker-Hannifin by 377.8% during the 3rd quarter. Swedbank AB now owns 158,085 shares of the industrial products company’s stock worth $99,881,000 after buying an additional 125,000 shares during the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Parker-Hannifin Stock Down 0.1 %

PH opened at $637.48 on Thursday. The stock’s 50 day moving average price is $603.46 and its 200 day moving average price is $558.68. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.93 and a quick ratio of 0.55. The stock has a market cap of $81.94 billion, a P/E ratio of 30.04, a P/E/G ratio of 2.57 and a beta of 1.43. Parker-Hannifin Co. has a 12 month low of $362.49 and a 12 month high of $646.60.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, August 8th. The industrial products company reported $6.77 EPS for the quarter, beating analysts’ consensus estimates of $6.22 by $0.55. The company had revenue of $5.19 billion for the quarter, compared to analyst estimates of $5.08 billion. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period last year, the company earned $6.08 earnings per share. As a group, research analysts predict that Parker-Hannifin Co. will post 26.64 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Wednesday, August 28th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend was Wednesday, August 28th. Parker-Hannifin’s dividend payout ratio is currently 30.73%.

Wall Street Analyst Weigh In

PH has been the topic of several research reports. Barclays upped their price target on Parker-Hannifin from $650.00 to $703.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Robert W. Baird increased their target price on shares of Parker-Hannifin from $622.00 to $654.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. TD Cowen increased their price objective on shares of Parker-Hannifin from $500.00 to $520.00 and gave the stock a “hold” rating in a research note on Wednesday, September 11th. Finally, Wells Fargo & Company lifted their target price on Parker-Hannifin from $640.00 to $710.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, Parker-Hannifin has a consensus rating of “Moderate Buy” and a consensus price target of $655.93.

Insider Activity

In related news, VP Berend Bracht sold 850 shares of the business’s 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 owns 3,350 shares of the company’s stock, valued at $1,986,282. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Joseph Scaminace sold 1,751 shares of the firm’s 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 owns 3,900 shares in the company, valued at approximately $2,299,947. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Berend Bracht sold 850 shares of the business’s 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 completion of the sale, the vice president now owns 3,350 shares in the company, valued at $1,986,282. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.03% of the company’s stock.

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.