Parker-Hannifin Co. (NYSE:PH) Stake Boosted by Costello Asset Management INC

Costello Asset Management INC boosted its stake in Parker-Hannifin Co. (NYSE:PH - Free Report) by 850.7% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,649 shares of the industrial products company's stock after acquiring an additional 4,160 shares during the quarter. Parker-Hannifin comprises about 2.0% of Costello Asset Management INC's holdings, making the stock its 18th largest holding. Costello Asset Management INC's holdings in Parker-Hannifin were worth $2,937,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of the company. International Assets Investment Management LLC boosted its holdings in Parker-Hannifin by 64,081.5% in the third quarter. International Assets Investment Management LLC now owns 381,880 shares of the industrial products company's stock valued at $241,279,000 after purchasing an additional 381,285 shares during the last quarter. 1832 Asset Management L.P. boosted its stake in shares of Parker-Hannifin by 305.0% during the 1st quarter. 1832 Asset Management L.P. now owns 307,794 shares of the industrial products company's stock valued at $171,069,000 after buying an additional 231,788 shares during the last quarter. AMF Tjanstepension AB grew its position in shares of 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 in the last quarter. Mackenzie Financial Corp increased its stake in shares of Parker-Hannifin by 107.7% in the second quarter. Mackenzie Financial Corp now owns 271,717 shares of the industrial products company's stock worth $137,437,000 after buying an additional 140,898 shares during the last quarter. Finally, Swedbank AB raised its holdings in Parker-Hannifin by 377.8% in the third quarter. Swedbank AB now owns 158,085 shares of the industrial products company's stock valued at $99,881,000 after acquiring an additional 125,000 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company's stock.

Insider Activity at Parker-Hannifin

In related news, Director Joseph Scaminace sold 1,751 shares of the business's stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the sale, the director now owns 3,900 shares of the company's stock, valued at $2,299,947. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Joseph Scaminace sold 1,751 shares of Parker-Hannifin stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the transaction, the director now directly owns 3,900 shares of the company's stock, valued at $2,299,947. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Thomas C. Gentile sold 2,430 shares of the company's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the completion of 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 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,678 shares of company stock worth $13,840,428 in the last 90 days. Corporate insiders own 0.39% of the company's stock.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Parker-Hannifin from $595.00 to $645.00 and gave the stock a "buy" rating in a research report on Friday, August 9th. TD Cowen upped their price objective on Parker-Hannifin from $500.00 to $520.00 and gave the company a "hold" rating in a research note on Wednesday, September 11th. Stifel Nicolaus increased their target price on Parker-Hannifin from $633.00 to $691.00 and gave the stock a "buy" rating in a report on Wednesday, October 2nd. Evercore ISI boosted their price target on Parker-Hannifin from $620.00 to $656.00 and gave the company an "outperform" rating in a report on Monday, August 19th. Finally, Wells Fargo & Company raised their price objective on Parker-Hannifin from $640.00 to $710.00 and gave the stock an "overweight" rating in a research note on Monday, October 7th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $673.14.

Parker-Hannifin Stock Performance

NYSE PH traded up $7.42 on Friday, hitting $695.58. The stock had a trading volume of 565,643 shares, compared to its average volume of 713,198. The company's 50-day moving average is $623.97 and its two-hundred day moving average is $569.83. Parker-Hannifin Co. has a one year low of $410.86 and a one year high of $709.63. The stock has a market cap of $89.54 billion, a price-to-earnings ratio of 31.42, a P/E/G ratio of 2.80 and a beta of 1.43. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $4.90 billion. During the same period in the prior year, the company posted $5.96 EPS. The business's revenue for the quarter was up 1.2% compared to the same quarter last year. On average, analysts expect that Parker-Hannifin Co. will post 26.79 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The business 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. This represents a $6.52 annualized dividend and a yield of 0.94%. The ex-dividend date of this dividend is Friday, November 8th. Parker-Hannifin's payout ratio is currently 29.45%.

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.