Centiva Capital LP Reduces Position in Parker-Hannifin Co. (NYSE:PH)

Centiva Capital LP lowered its stake in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 64.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,168 shares of the industrial products company's stock after selling 4,002 shares during the quarter. Centiva Capital LP's holdings in Parker-Hannifin were worth $1,370,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Wilkinson Global Asset Management LLC boosted its stake in Parker-Hannifin by 59.1% in the third quarter. Wilkinson Global Asset Management LLC now owns 39,093 shares of the industrial products company's stock worth $24,700,000 after buying an additional 14,526 shares in the last quarter. Banco Santander S.A. grew its holdings in shares of Parker-Hannifin by 11.9% during the 3rd quarter. Banco Santander S.A. now owns 14,478 shares of the industrial products company's stock valued at $9,147,000 after purchasing an additional 1,544 shares during the last quarter. Ritholtz Wealth Management raised its position in Parker-Hannifin by 88.4% in the 3rd quarter. Ritholtz Wealth Management now owns 1,473 shares of the industrial products company's stock worth $931,000 after purchasing an additional 691 shares during the period. Deltec Asset Management LLC bought a new stake in Parker-Hannifin in the second quarter worth $506,000. Finally, Hantz Financial Services Inc. boosted its position in Parker-Hannifin by 3.2% during the third quarter. Hantz Financial Services Inc. now owns 40,332 shares of the industrial products company's stock valued at $25,483,000 after buying an additional 1,267 shares during the period. 82.44% of the stock is owned by institutional investors.

Insider Activity at Parker-Hannifin

In other news, VP Thomas C. Gentile sold 2,430 shares of Parker-Hannifin stock in a transaction that occurred on 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 directly owns 5,465 shares in the company, valued at $3,831,839.40. The trade was a 30.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, 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 transaction, 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 ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,077 shares of company stock valued at $12,303,829. 0.39% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PH shares. Raymond James increased their target price on Parker-Hannifin from $610.00 to $650.00 and gave the company an "outperform" rating in a report on Wednesday, September 4th. KeyCorp upped their price target on Parker-Hannifin from $725.00 to $775.00 and gave the company an "overweight" rating in a research report on Thursday, November 21st. StockNews.com upgraded Parker-Hannifin from a "hold" rating to a "buy" rating in a research report on Saturday, October 12th. Wells Fargo & Company lifted their price target on shares of Parker-Hannifin from $640.00 to $710.00 and gave the company an "overweight" rating in a report on Monday, October 7th. Finally, Stifel Nicolaus lowered shares of Parker-Hannifin from a "buy" rating to a "hold" rating and set a $691.00 price objective for the company. in a report on Monday, November 18th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $697.87.

Parker-Hannifin Stock Down 0.2 %

NYSE:PH traded down $1.68 during trading hours on Thursday, reaching $694.81. 465,696 shares of the company traded hands, compared to its average volume of 635,827. Parker-Hannifin Co. has a 1 year low of $431.98 and a 1 year high of $712.42. The stock has a market capitalization of $89.44 billion, a P/E ratio of 31.40, a P/E/G ratio of 2.83 and a beta of 1.43. The business's 50-day moving average price is $661.02 and its two-hundred day moving average price is $588.91. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced 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. The company had revenue of $4.90 billion for 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 revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $5.96 EPS. Analysts predict that Parker-Hannifin Co. will post 26.77 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 8th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a yield of 0.94%. Parker-Hannifin's payout ratio is currently 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.