Fmr LLC Buys 272,531 Shares of Parker-Hannifin Co. (NYSE:PH)

FMR LLC raised its stake in Parker-Hannifin Co. (NYSE:PH - Free Report) by 7.1% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,116,257 shares of the industrial products company's stock after buying an additional 272,531 shares during the quarter. FMR LLC owned about 3.20% of Parker-Hannifin worth $2,600,733,000 at the end of the most recent quarter.

A number of other institutional investors have also made changes to their positions in the stock. CVA Family Office LLC grew its stake in Parker-Hannifin by 3.9% during the 3rd quarter. CVA Family Office LLC now owns 425 shares of the industrial products company's stock worth $269,000 after purchasing an additional 16 shares in the last quarter. Sonoma Private Wealth LLC grew its position in shares of Parker-Hannifin by 2.9% during the third quarter. Sonoma Private Wealth LLC now owns 667 shares of the industrial products company's stock worth $421,000 after buying an additional 19 shares in the last quarter. W Advisors LLC raised its holdings in Parker-Hannifin by 3.4% in the third quarter. W Advisors LLC now owns 581 shares of the industrial products company's stock valued at $367,000 after acquiring an additional 19 shares in the last quarter. Simmons Bank lifted its stake in Parker-Hannifin by 0.7% in the third quarter. Simmons Bank now owns 2,753 shares of the industrial products company's stock worth $1,739,000 after acquiring an additional 19 shares during the last quarter. Finally, CFS Investment Advisory Services LLC grew its holdings in Parker-Hannifin by 3.4% during the 3rd quarter. CFS Investment Advisory Services LLC now owns 583 shares of the industrial products company's stock worth $368,000 after acquiring an additional 19 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Parker-Hannifin

In related news, VP Joseph R. Leonti sold 5,877 shares of Parker-Hannifin stock in a transaction on 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 completion of the sale, the vice president now owns 15,350 shares of the company's stock, valued at approximately $9,686,464. This trade represents a 27.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 stock was sold at an average price of $701.16, for a total value of $1,703,818.80. Following the completion of the transaction, the vice president now directly owns 5,465 shares in the company, valued at approximately $3,831,839.40. The trade was a 30.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,077 shares of company stock valued at $12,303,829 in the last three months. 0.39% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on PH shares. Mizuho upped their price objective on Parker-Hannifin from $665.00 to $715.00 and gave the stock an "outperform" rating in a research report on Thursday, October 17th. Robert W. Baird increased their price objective on 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 objective 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 boosted their target price on shares of Parker-Hannifin from $520.00 to $575.00 and gave the stock a "hold" rating in a research report on Tuesday, November 12th. Finally, Argus raised their price target on Parker-Hannifin from $650.00 to $710.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, Parker-Hannifin has an average rating of "Moderate Buy" and an average target price of $691.40.

Parker-Hannifin Stock Up 0.5 %

Shares of NYSE:PH traded up $3.48 during trading on Tuesday, hitting $707.90. The company's stock had a trading volume of 250,394 shares, compared to its average volume of 642,159. The stock's 50-day moving average price is $649.47 and its two-hundred day moving average price is $581.74. Parker-Hannifin Co. has a fifty-two week low of $426.49 and a fifty-two week high of $712.42. The company has a market capitalization of $91.12 billion, a PE ratio of 31.82, a PEG ratio of 2.85 and a beta of 1.43. 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 issued its earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, topping the consensus estimate of $6.14 by $0.06. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The firm had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same period last year, the company earned $5.96 earnings per share. The firm's revenue for the quarter was up 1.2% on a year-over-year basis. As a group, sell-side analysts expect that Parker-Hannifin Co. will post 26.77 EPS for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 8th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 0.92%. The ex-dividend date of this dividend is Friday, November 8th. Parker-Hannifin's payout ratio is 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.