Intech Investment Management LLC Lowers Stock Position in Parker-Hannifin Co. (NYSE:PH)

Intech Investment Management LLC trimmed its position in Parker-Hannifin Co. (NYSE:PH - Free Report) by 21.0% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,463 shares of the industrial products company's stock after selling 2,788 shares during the period. Intech Investment Management LLC's holdings in Parker-Hannifin were worth $6,611,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. CVA Family Office LLC raised its holdings in Parker-Hannifin by 3.9% during the third quarter. CVA Family Office LLC now owns 425 shares of the industrial products company's stock worth $269,000 after buying an additional 16 shares during the last quarter. Sonoma Private Wealth LLC raised its holdings in shares of Parker-Hannifin by 2.9% in the 3rd quarter. Sonoma Private Wealth LLC now owns 667 shares of the industrial products company's stock worth $421,000 after acquiring an additional 19 shares during the last quarter. W Advisors LLC lifted its position in Parker-Hannifin by 3.4% in the 3rd 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 boosted its stake in Parker-Hannifin by 0.7% during the 3rd quarter. Simmons Bank now owns 2,753 shares of the industrial products company's stock valued at $1,739,000 after purchasing an additional 19 shares during the last quarter. Finally, American Trust increased its holdings in Parker-Hannifin by 3.2% during the 1st quarter. American Trust now owns 649 shares of the industrial products company's stock worth $361,000 after purchasing an additional 20 shares in the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, VP Berend Bracht sold 850 shares of the business's stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $592.92, for a total transaction of $503,982.00. Following the completion of the transaction, the vice president now owns 3,350 shares of the company's stock, valued at approximately $1,986,282. The trade was a 20.24 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Joseph R. Leonti sold 5,877 shares of the company's stock in a transaction that occurred 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 sale, the vice president now directly owns 15,350 shares in the company, valued at $9,686,464. This trade represents a 27.69 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,927 shares of company stock valued at $12,807,811. Company insiders own 0.39% of the company's stock.

Parker-Hannifin Price Performance

Shares of NYSE PH opened at $706.87 on Friday. The firm has a market cap of $90.99 billion, a price-to-earnings ratio of 31.93, a price-to-earnings-growth ratio of 2.84 and a beta of 1.43. The stock has a fifty day simple moving average of $647.32 and a two-hundred day simple moving average of $580.33. 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 Co. has a 1-year low of $426.49 and a 1-year high of $711.60.

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

Parker-Hannifin Announces Dividend

The firm 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 dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date is Friday, November 8th. Parker-Hannifin's payout ratio is currently 29.45%.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. Barclays raised their target price on Parker-Hannifin from $650.00 to $703.00 and gave the company an "overweight" rating in a report on Wednesday, October 2nd. UBS Group began coverage on Parker-Hannifin in a research note on Wednesday, November 13th. They set a "buy" rating and a $842.00 price objective on the stock. Evercore ISI upped their target price on shares of Parker-Hannifin from $620.00 to $656.00 and gave the stock an "outperform" rating in a research note on Monday, August 19th. Wells Fargo & Company increased their target price 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, KeyCorp boosted their price target on shares of Parker-Hannifin from $725.00 to $775.00 and gave the stock an "overweight" rating in a report on Thursday. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $691.40.

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.