D.A. Davidson & CO. Trims Stock Position in Parker-Hannifin Co. (NYSE:PH)

D.A. Davidson & CO. trimmed its holdings in Parker-Hannifin Co. (NYSE:PH) by 5.1% in the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 3,335 shares of the industrial products company’s stock after selling 179 shares during the period. D.A. Davidson & CO.’s holdings in Parker-Hannifin were worth $2,108,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. FMR LLC lifted its holdings in shares of Parker-Hannifin by 7.1% in the 3rd quarter. FMR LLC now owns 4,116,257 shares of the industrial products company’s stock worth $2,600,733,000 after acquiring an additional 272,531 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Parker-Hannifin by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,593,970 shares of the industrial products company’s stock worth $1,007,102,000 after purchasing an additional 59,432 shares in the last quarter. Legal & General Group Plc boosted its position in shares of 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 during the period. AMF Tjanstepension AB grew its stake in shares of Parker-Hannifin by 23.0% in the second quarter. AMF Tjanstepension AB now owns 758,262 shares of the industrial products company’s stock valued at $383,594,000 after buying an additional 141,862 shares in the last quarter. Finally, Bank of Montreal Can raised its holdings in shares of 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 during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Up 0.4 %

Shares of NYSE:PH opened at $702.93 on Friday. The firm has a 50 day simple moving average of $656.37 and a 200-day simple moving average of $585.44. Parker-Hannifin Co. has a twelve month low of $426.78 and a twelve month high of $712.42. 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 company has a market capitalization of $90.48 billion, a PE ratio of 31.75, a P/E/G ratio of 2.82 and a beta of 1.43.

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

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 8th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.93%. The ex-dividend date is Friday, November 8th. Parker-Hannifin’s dividend payout ratio (DPR) is 29.45%.

Insider Buying and Selling at Parker-Hannifin

In related news, VP Joseph R. Leonti sold 5,877 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $631.04, for a total value of $3,708,622.08. Following the transaction, the vice president now owns 15,350 shares in the company, valued at $9,686,464. The trade was a 27.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, VP Thomas C. Gentile sold 2,430 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total value of $1,703,818.80. Following the sale, the vice president now directly owns 5,465 shares of the company’s stock, valued at $3,831,839.40. The trade was a 30.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,077 shares of company stock worth $12,303,829. 0.39% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Barclays lifted their target price on Parker-Hannifin from $650.00 to $703.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Wells Fargo & Company upped their target price on shares of Parker-Hannifin from $640.00 to $710.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Mizuho raised their price target on shares of Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Raymond James upped their price objective on Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. Finally, Argus lifted their target price on Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $691.40.

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.