Harbour Investments Inc. Has $955,000 Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Harbour Investments Inc. grew its holdings in Parker-Hannifin Co. (NYSE:PH - Free Report) by 100.4% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,511 shares of the industrial products company's stock after buying an additional 757 shares during the period. Harbour Investments Inc.'s holdings in Parker-Hannifin were worth $955,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also modified their holdings of the company. Addison Advisors LLC acquired a new stake in shares of Parker-Hannifin during the second quarter valued at about $25,000. West Branch Capital LLC purchased a new position in Parker-Hannifin in the third quarter worth approximately $25,000. Bangor Savings Bank lifted its stake in Parker-Hannifin by 238.5% in the third 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 lifted its stake in Parker-Hannifin by 346.7% in the second quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company's stock worth $34,000 after acquiring an additional 52 shares during the last quarter. Finally, Crewe Advisors LLC acquired a new stake in Parker-Hannifin during the first quarter worth approximately $38,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Joseph R. Leonti sold 5,877 shares of the business's 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 in the company, valued at $9,686,464. The trade was a 27.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Andrew D. Ross sold 4,864 shares of the company's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total value of $3,434,178.56. Following the completion of the sale, the chief operating officer now owns 13,120 shares of the company's stock, valued at $9,263,244.80. This represents a 27.05 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,927 shares of company stock valued at $12,807,811. 0.39% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on PH. Raymond James lifted their target price on shares of Parker-Hannifin from $610.00 to $650.00 and gave the company an "outperform" rating in a report on Wednesday, September 4th. Mizuho boosted their price objective on shares of Parker-Hannifin from $665.00 to $715.00 and gave the company an "outperform" rating in a research note on Thursday, October 17th. Robert W. Baird boosted their price objective on shares of Parker-Hannifin from $695.00 to $710.00 and gave the company an "outperform" rating in a research note on Friday, November 1st. Stifel Nicolaus boosted their target price on shares of Parker-Hannifin from $633.00 to $691.00 and gave the stock a "buy" rating in a research report on Wednesday, October 2nd. Finally, Evercore ISI boosted their target price on shares of Parker-Hannifin from $620.00 to $656.00 and gave the stock an "outperform" rating in a research report on Monday, August 19th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $688.07.

Parker-Hannifin Stock Up 0.2 %

Shares of PH traded up $1.28 during midday trading on Friday, reaching $698.91. 528,285 shares of the stock were exchanged, compared to its average volume of 645,390. Parker-Hannifin Co. has a 12-month low of $425.20 and a 12-month high of $711.60. The firm has a 50 day simple moving average of $633.64 and a 200-day simple moving average of $573.94. 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 company has a market cap of $89.96 billion, a price-to-earnings ratio of 31.66, a P/E/G ratio of 2.85 and a beta of 1.43.

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 for the quarter, beating analysts' consensus estimates of $6.14 by $0.06. The business had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.90 billion. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The firm's revenue was up 1.2% compared to the same quarter last year. During the same period last year, the business earned $5.96 EPS. Research analysts forecast that Parker-Hannifin Co. will post 26.77 EPS for the current year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 8th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.93%. The ex-dividend date is Friday, November 8th. Parker-Hannifin's dividend payout ratio is 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.