Castellan Group Sells 870 Shares of Parker-Hannifin Co. (NYSE:PH)

Castellan Group cut its holdings in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 18.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,867 shares of the industrial products company's stock after selling 870 shares during the period. Castellan Group's holdings in Parker-Hannifin were worth $2,443,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in PH. Addison Advisors LLC bought a new position in Parker-Hannifin during the 2nd quarter worth about $25,000. West Branch Capital LLC acquired a new stake in Parker-Hannifin in the 3rd quarter valued at approximately $25,000. Bangor Savings Bank lifted its stake in Parker-Hannifin by 238.5% in the 3rd quarter. Bangor Savings Bank now owns 44 shares of the industrial products company's stock valued at $28,000 after acquiring an additional 31 shares in the last quarter. Prestige Wealth Management Group LLC lifted its stake in Parker-Hannifin by 83.3% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company's stock valued at $35,000 after acquiring an additional 25 shares in the last quarter. Finally, Northwest Investment Counselors LLC acquired a new position in Parker-Hannifin during the 3rd quarter worth approximately $39,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Joseph R. Leonti sold 5,877 shares of the business'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 directly owns 15,350 shares of the company's stock, valued at $9,686,464. The trade was a 27.69 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Andrew D. Ross sold 4,864 shares of the company's stock in a transaction that occurred 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. This trade represents a 27.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,077 shares of company stock worth $12,303,829. Corporate insiders own 0.39% of the company's stock.

Analyst Upgrades and Downgrades

PH has been the topic of a number of recent research reports. Barclays lifted their price objective on shares of Parker-Hannifin from $703.00 to $800.00 and gave the company an "overweight" rating in a report on Thursday, December 5th. Wolfe Research raised shares of Parker-Hannifin from a "peer perform" rating to an "outperform" rating and set a $786.00 price target on the stock in a research report on Thursday. Robert W. Baird increased their price objective on shares of Parker-Hannifin from $695.00 to $710.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Evercore ISI lifted their target price on Parker-Hannifin from $620.00 to $656.00 and gave the company an "outperform" rating in a research report on Monday, August 19th. Finally, Wells Fargo & Company increased their price target on Parker-Hannifin from $640.00 to $710.00 and gave the company an "overweight" rating in a research report on Monday, October 7th. Two equities research analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $709.65.

Parker-Hannifin Price Performance

Shares of NYSE PH traded down $10.97 during trading hours on Friday, hitting $671.60. 320,477 shares of the stock were exchanged, compared to its average volume of 633,303. The company's fifty day simple moving average is $667.79 and its two-hundred day simple moving average is $594.73. The company has a market cap of $86.45 billion, a PE ratio of 30.83, a price-to-earnings-growth ratio of 2.77 and a beta of 1.43. Parker-Hannifin Co. has a 1-year low of $440.00 and a 1-year high of $712.42. 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 (NYSE:PH - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, beating the consensus estimate of $6.14 by $0.06. The business had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.90 billion. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. Parker-Hannifin's revenue was up 1.2% compared to the same quarter last year. During the same period last year, the firm posted $5.96 earnings per share. On average, sell-side analysts predict that Parker-Hannifin Co. will post 26.75 EPS for the current year.

Parker-Hannifin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 8th were paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.97%. Parker-Hannifin's payout ratio is presently 29.45%.

Parker-Hannifin Company 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.