MAI Capital Management Sells 985 Shares of Parker-Hannifin Co. (NYSE:PH)

MAI Capital Management lessened its position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 9.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 9,085 shares of the industrial products company's stock after selling 985 shares during the period. MAI Capital Management's holdings in Parker-Hannifin were worth $5,740,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its stake in shares of Parker-Hannifin by 64,081.5% during the third quarter. International Assets Investment Management LLC now owns 381,880 shares of the industrial products company's stock worth $241,279,000 after purchasing an additional 381,285 shares in the last quarter. Mizuho Securities USA LLC lifted its stake in shares of Parker-Hannifin by 3,566.4% in the third quarter. Mizuho Securities USA LLC now owns 363,302 shares of the industrial products company's stock worth $229,541,000 after acquiring an additional 353,393 shares in the last quarter. 1832 Asset Management L.P. lifted its stake in shares of Parker-Hannifin by 305.0% in the first quarter. 1832 Asset Management L.P. now owns 307,794 shares of the industrial products company's stock worth $171,069,000 after acquiring an additional 231,788 shares in the last quarter. AMF Tjanstepension AB raised its stake in Parker-Hannifin by 23.0% during the second quarter. AMF Tjanstepension AB now owns 758,262 shares of the industrial products company's stock valued at $383,594,000 after buying an additional 141,862 shares in the last quarter. Finally, Mackenzie Financial Corp raised its stake in Parker-Hannifin by 107.7% during the second quarter. Mackenzie Financial Corp now owns 271,717 shares of the industrial products company's stock valued at $137,437,000 after buying an additional 140,898 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company's stock.

Parker-Hannifin Stock Up 0.1 %

Shares of PH traded up $0.67 during mid-day trading on Wednesday, reaching $690.43. The company's stock had a trading volume of 384,949 shares, compared to its average volume of 642,132. The business has a fifty day moving average of $640.59 and a 200 day moving average of $577.60. The company has a market cap of $88.87 billion, a price-to-earnings ratio of 31.15, a price-to-earnings-growth ratio of 2.82 and a beta of 1.43. Parker-Hannifin Co. has a 1 year low of $426.49 and a 1 year 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.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, beating 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 company had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.90 billion. During the same quarter in the prior year, the company earned $5.96 earnings per share. The company's revenue for the quarter was up 1.2% on a year-over-year basis. As a group, analysts forecast that Parker-Hannifin Co. will post 26.77 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date of this dividend is Friday, November 8th. Parker-Hannifin's dividend payout ratio (DPR) is presently 29.45%.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,430 shares of the stock in a transaction on 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 transaction, the vice president now directly owns 5,465 shares of the company's stock, valued at $3,831,839.40. This represents a 30.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Joseph R. Leonti sold 5,877 shares of the firm's stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $631.04, for a total value of $3,708,622.08. Following the completion of the sale, the vice president now directly owns 15,350 shares in the company, valued at approximately $9,686,464. This represents a 27.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,927 shares of company stock valued at $12,807,811. 0.39% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Robert W. Baird upped their price objective on 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 lowered Parker-Hannifin from a "buy" rating to a "hold" rating and set a $691.00 price objective for the company. in a report on Monday. Barclays increased their price objective on Parker-Hannifin from $650.00 to $703.00 and gave the stock an "overweight" rating in a report on Wednesday, October 2nd. KeyCorp increased their price objective on Parker-Hannifin from $640.00 to $725.00 and gave the stock an "overweight" rating in a report on Monday, October 14th. Finally, StockNews.com upgraded Parker-Hannifin from a "hold" rating to a "buy" rating in a research report on Saturday, October 12th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $688.07.

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.