Barclays PLC Decreases Stock Position in Parker-Hannifin Co. (NYSE:PH)

Barclays PLC cut its holdings in Parker-Hannifin Co. (NYSE:PH - Free Report) by 11.3% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 205,110 shares of the industrial products company's stock after selling 26,169 shares during the period. Barclays PLC owned 0.16% of Parker-Hannifin worth $129,595,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. State Street Corp raised its holdings in shares of Parker-Hannifin by 13.8% during the 3rd quarter. State Street Corp now owns 6,202,235 shares of the industrial products company's stock worth $3,918,696,000 after acquiring an additional 753,143 shares in the last quarter. FMR LLC raised its holdings in shares of Parker-Hannifin by 7.1% during 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 in the last quarter. Wellington Management Group LLP raised its holdings in shares of Parker-Hannifin by 39.9% during the 3rd quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company's stock worth $1,249,645,000 after acquiring an additional 564,365 shares in the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of Parker-Hannifin by 3.9% during the 3rd 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 acquiring an additional 59,432 shares in the last quarter. Finally, Legal & General Group Plc raised its holdings in shares of Parker-Hannifin by 1.3% during the 2nd quarter. Legal & General Group Plc now owns 985,280 shares of the industrial products company's stock worth $498,366,000 after acquiring an additional 12,615 shares in the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Trading Up 1.2 %

Parker-Hannifin stock traded up $8.16 during mid-day trading on Wednesday, hitting $686.09. The company's stock had a trading volume of 702,027 shares, compared to its average volume of 635,149. The company has a 50 day moving average of $665.49 and a 200-day moving average of $593.46. The stock has a market cap of $88.31 billion, a PE ratio of 31.01, a P/E/G ratio of 2.81 and a beta of 1.44. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96. Parker-Hannifin Co. has a one year low of $435.77 and a one year high of $712.42.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (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 the consensus estimate of $4.90 billion. During the same quarter in the prior year, the company earned $5.96 EPS. The business's revenue was up 1.2% compared to the same quarter last year. On average, research analysts anticipate that Parker-Hannifin Co. will post 26.77 EPS for the current year.

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 8th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date was Friday, November 8th. Parker-Hannifin's payout ratio is 29.45%.

Insider Transactions at Parker-Hannifin

In related news, VP Joseph R. Leonti sold 5,877 shares of the firm's stock in a transaction dated Friday, November 1st. The stock was 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 $9,686,464. This trade represents a 27.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Thomas C. Gentile sold 2,430 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total value of $1,703,818.80. Following the completion of the sale, the vice president now owns 5,465 shares of the company's stock, valued at approximately $3,831,839.40. This trade represents a 30.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,077 shares of company stock valued at $12,303,829. 0.39% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

PH has been the topic of several recent research reports. UBS Group initiated coverage on Parker-Hannifin in a report on Wednesday, November 13th. They set a "buy" rating and a $842.00 price objective on the stock. Raymond James increased their price target on Parker-Hannifin from $610.00 to $650.00 and gave the company an "outperform" rating in a report on Wednesday, September 4th. StockNews.com raised shares of Parker-Hannifin from a "hold" rating to a "buy" rating in a research note on Saturday, October 12th. Evercore ISI increased their target price on shares of Parker-Hannifin from $620.00 to $656.00 and gave the company an "outperform" rating in a research note on Monday, August 19th. Finally, Barclays lifted their price target on shares of Parker-Hannifin from $703.00 to $800.00 and gave the stock an "overweight" rating in a research note on Thursday, December 5th. Three analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Parker-Hannifin presently has an average rating of "Moderate Buy" and a consensus price target of $704.88.

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.