Janney Capital Management LLC Has $8.94 Million Holdings in Parker-Hannifin Co. (NYSE:PH)

Janney Capital Management LLC lessened its position in Parker-Hannifin Co. (NYSE:PH) by 1.0% in the 3rd quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 14,146 shares of the industrial products company’s stock after selling 138 shares during the quarter. Janney Capital Management LLC’s holdings in Parker-Hannifin were worth $8,938,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PH. Clear Creek Financial Management LLC lifted its holdings in shares of Parker-Hannifin by 17.1% in the third quarter. Clear Creek Financial Management LLC now owns 857 shares of the industrial products company’s stock valued at $542,000 after purchasing an additional 125 shares in the last quarter. Argonautica Private Wealth Management Inc. lifted its stake in Parker-Hannifin by 1.1% in the 3rd quarter. Argonautica Private Wealth Management Inc. now owns 4,107 shares of the industrial products company’s stock worth $2,595,000 after acquiring an additional 43 shares in the last quarter. Chicago Partners Investment Group LLC lifted its stake in Parker-Hannifin by 23.3% in the 3rd quarter. Chicago Partners Investment Group LLC now owns 593 shares of the industrial products company’s stock worth $374,000 after acquiring an additional 112 shares in the last quarter. Farther Finance Advisors LLC grew its stake in Parker-Hannifin by 13.5% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,212 shares of the industrial products company’s stock valued at $766,000 after acquiring an additional 144 shares in the last quarter. Finally, Capital Advisors Inc. OK acquired a new position in shares of Parker-Hannifin in the 3rd quarter valued at about $200,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Transactions at Parker-Hannifin

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

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on PH shares. KeyCorp upped their price objective on shares of Parker-Hannifin from $640.00 to $725.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Barclays increased their price objective on Parker-Hannifin from $650.00 to $703.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Stifel Nicolaus boosted their target price on Parker-Hannifin from $633.00 to $691.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Evercore ISI raised their price target on Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a report on Friday, August 9th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $664.57.

Parker-Hannifin Stock Performance

NYSE:PH opened at $635.03 on Friday. The firm has a market capitalization of $81.71 billion, a PE ratio of 28.68, a PEG ratio of 2.57 and a beta of 1.43. Parker-Hannifin Co. has a 1 year low of $395.00 and a 1 year high of $646.60. 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 firm’s fifty day simple moving average is $615.46 and its 200 day simple moving average is $565.05.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, topping analysts’ consensus estimates of $6.14 by $0.06. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The business had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same period in the previous year, the company posted $5.96 earnings per share. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, sell-side analysts anticipate that Parker-Hannifin Co. will post 26.67 EPS for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be given a $1.63 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $6.52 annualized dividend and a dividend yield of 1.03%. Parker-Hannifin’s dividend payout ratio is 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.