Parker-Hannifin Co. (NYSE:PH) Shares Bought by Fifth Third Wealth Advisors LLC

Fifth Third Wealth Advisors LLC grew its position in Parker-Hannifin Co. (NYSE:PH) by 4.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,399 shares of the industrial products company’s stock after acquiring an additional 59 shares during the quarter. Fifth Third Wealth Advisors LLC’s holdings in Parker-Hannifin were worth $884,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in PH. Boston Partners raised its holdings in Parker-Hannifin by 4.1% in the 1st quarter. Boston Partners now owns 1,111,720 shares of the industrial products company’s stock valued at $617,878,000 after acquiring an additional 43,535 shares during the last quarter. Legal & General Group Plc lifted its position in Parker-Hannifin by 1.3% during the second quarter. Legal & General Group Plc now owns 985,280 shares of the industrial products company’s stock worth $498,366,000 after buying an additional 12,615 shares in the last quarter. AMF Tjanstepension AB boosted its stake in Parker-Hannifin by 23.0% during the second quarter. AMF Tjanstepension AB now owns 758,262 shares of the industrial products company’s stock worth $383,594,000 after buying an additional 141,862 shares during the last quarter. Bank of Montreal Can grew its holdings in Parker-Hannifin by 11.6% in the 2nd quarter. Bank of Montreal Can now owns 735,755 shares of the industrial products company’s stock valued at $378,572,000 after buying an additional 76,629 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in shares of Parker-Hannifin by 18.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 652,539 shares of the industrial products company’s stock worth $330,061,000 after acquiring an additional 99,959 shares during the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on PH shares. Evercore ISI upped their price objective on shares of Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a research report on Friday, August 9th. UBS Group assumed coverage on Parker-Hannifin in a research note on Wednesday, November 13th. They set a “buy” rating and a $842.00 target price for the company. KeyCorp upped their price target on Parker-Hannifin from $640.00 to $725.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Finally, TD Cowen raised their price objective on Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $688.07.

Parker-Hannifin Trading Down 0.3 %

NYSE:PH opened at $689.56 on Wednesday. Parker-Hannifin Co. has a 12-month low of $426.49 and a 12-month high of $711.60. The firm has a market cap of $88.76 billion, a PE ratio of 31.15, a price-to-earnings-growth ratio of 2.82 and a beta of 1.43. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. The stock has a fifty day moving average price of $640.59 and a 200 day moving average price of $577.60.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.14 by $0.06. The business had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.90 billion. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the business posted $5.96 EPS. Sell-side analysts anticipate that Parker-Hannifin Co. will post 26.77 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be issued a $1.63 dividend. The ex-dividend date is Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.95%. Parker-Hannifin’s payout ratio is 29.45%.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Joseph R. Leonti sold 5,877 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $631.04, for a total transaction of $3,708,622.08. Following the sale, the vice president now owns 15,350 shares of the company’s stock, valued at approximately $9,686,464. This trade represents a 27.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Andrew D. Ross sold 4,864 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were 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 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 position. The disclosure for this sale can be found here. In the last three months, insiders sold 18,927 shares of company stock valued at $12,807,811. Insiders own 0.39% of the company’s stock.

Parker-Hannifin 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.