Ferguson Wellman Capital Management Inc. Cuts Holdings in Parker-Hannifin Co. (NYSE:PH)

Ferguson Wellman Capital Management Inc. cut its position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 14.3% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 160,070 shares of the industrial products company's stock after selling 26,749 shares during the period. Parker-Hannifin makes up 2.0% of Ferguson Wellman Capital Management Inc.'s holdings, making the stock its 12th biggest holding. Ferguson Wellman Capital Management Inc. owned 0.12% of Parker-Hannifin worth $101,135,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Addison Advisors LLC acquired a new stake in shares of Parker-Hannifin during the 2nd quarter worth about $25,000. West Branch Capital LLC purchased a new stake in shares of Parker-Hannifin in the 3rd quarter valued at approximately $25,000. Bangor Savings Bank lifted its holdings in shares of Parker-Hannifin by 238.5% in the 3rd quarter. Bangor Savings Bank now owns 44 shares of the industrial products company's stock worth $28,000 after acquiring an additional 31 shares during the last quarter. Fortitude Family Office LLC boosted its position in shares of Parker-Hannifin by 346.7% during the 2nd quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company's stock worth $34,000 after purchasing an additional 52 shares during the period. Finally, Crewe Advisors LLC purchased a new position in shares of Parker-Hannifin during the 1st quarter worth approximately $38,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PH has been the topic of several research analyst reports. Mizuho boosted their price objective on Parker-Hannifin from $665.00 to $715.00 and gave the company an "outperform" rating in a report on Thursday, October 17th. Robert W. Baird increased their price target on shares of Parker-Hannifin from $695.00 to $710.00 and gave the stock an "outperform" rating in a research report on Friday, November 1st. Deutsche Bank Aktiengesellschaft raised their price target on shares of Parker-Hannifin from $595.00 to $645.00 and gave the company a "buy" rating in a research report on Friday, August 9th. TD Cowen upped their price objective on Parker-Hannifin from $520.00 to $575.00 and gave the stock a "hold" rating in a research report on Tuesday. Finally, Evercore ISI increased their price objective on Parker-Hannifin from $620.00 to $656.00 and gave the company an "outperform" rating in a research note on Monday, August 19th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $688.07.

Parker-Hannifin Stock Down 1.2 %

PH traded down $8.83 on Thursday, reaching $697.63. The company's stock had a trading volume of 592,733 shares, compared to its average volume of 645,908. The company has a market capitalization of $89.80 billion, a price-to-earnings ratio of 31.91, a P/E/G ratio of 2.82 and a beta of 1.43. Parker-Hannifin Co. has a fifty-two week low of $425.20 and a fifty-two week high of $711.60. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. The stock has a 50 day moving average of $631.19 and a two-hundred day moving average of $573.08.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its earnings results on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, beating analysts' consensus estimates of $6.14 by $0.06. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The firm had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.90 billion. During the same period last year, the firm posted $5.96 EPS. The company's revenue was up 1.2% on a year-over-year basis. As a group, analysts forecast 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 of this dividend is Friday, November 8th. Parker-Hannifin's dividend payout ratio (DPR) is 29.45%.

Insider Buying and Selling at Parker-Hannifin

In other news, VP Thomas C. Gentile sold 2,430 shares of the business's 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 transaction, the vice president now owns 5,465 shares of the company's stock, valued at approximately $3,831,839.40. The trade was a 30.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Berend Bracht sold 850 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $592.92, for a total value of $503,982.00. Following the sale, the vice president now directly owns 3,350 shares of the company's stock, valued at approximately $1,986,282. This represents a 20.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,927 shares of company stock worth $12,807,811. 0.39% of the stock is owned by insiders.

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.