National Bank of Canada FI Buys 41,577 Shares of Parker-Hannifin Co. (NYSE:PH)

National Bank of Canada FI grew its position in Parker-Hannifin Co. (NYSE:PH - Free Report) by 57.8% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 113,554 shares of the industrial products company's stock after buying an additional 41,577 shares during the period. National Bank of Canada FI owned approximately 0.09% of Parker-Hannifin worth $71,746,000 at the end of the most recent quarter.

Other large investors have also made changes to their positions in the company. Addison Advisors LLC acquired a new position in Parker-Hannifin in the second quarter valued at about $25,000. West Branch Capital LLC acquired a new position in shares of Parker-Hannifin in the 3rd quarter valued at approximately $25,000. Bangor Savings Bank increased its stake in Parker-Hannifin by 238.5% during the 3rd quarter. Bangor Savings Bank now owns 44 shares of the industrial products company's stock worth $28,000 after purchasing an additional 31 shares in the last quarter. Opal Wealth Advisors LLC acquired a new stake in Parker-Hannifin during the 2nd quarter worth approximately $39,000. Finally, Northwest Investment Counselors LLC bought a new position in Parker-Hannifin in the third quarter valued at approximately $39,000. Institutional investors own 82.44% of the company's stock.

Insider Transactions at Parker-Hannifin

In other news, VP Thomas C. Gentile sold 2,430 shares of the business's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total value of $1,703,818.80. Following the completion of the sale, 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO Andrew D. Ross sold 4,864 shares of the firm's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $706.04, for a total transaction of $3,434,178.56. Following the transaction, the chief operating officer now directly owns 13,120 shares in the company, valued at approximately $9,263,244.80. This represents a 27.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,077 shares of company stock worth $12,303,829. 0.39% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities research analysts recently commented on PH shares. Raymond James raised their price objective on shares of Parker-Hannifin from $610.00 to $650.00 and gave the stock an "outperform" rating in a report on Wednesday, September 4th. StockNews.com raised Parker-Hannifin from a "hold" rating to a "buy" rating in a research note on Saturday, October 12th. KeyCorp upped their price objective on Parker-Hannifin from $725.00 to $775.00 and gave the stock an "overweight" rating in a research report on Thursday, November 21st. Robert W. Baird lifted their target price on Parker-Hannifin from $695.00 to $710.00 and gave the company an "outperform" rating in a research report on Friday, November 1st. Finally, UBS Group started coverage on Parker-Hannifin in a research report on Wednesday, November 13th. They set a "buy" rating and a $842.00 price target for the company. Three equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $704.88.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock traded up $1.45 during trading on Friday, hitting $696.16. 371,942 shares of the stock were exchanged, compared to its average volume of 499,162. Parker-Hannifin Co. has a 1-year low of $431.98 and a 1-year high of $712.42. The stock has a market capitalization of $89.61 billion, a price-to-earnings ratio of 31.44, a price-to-earnings-growth ratio of 2.81 and a beta of 1.43. The company has a fifty day moving average price of $663.46 and a 200-day moving average price of $591.30. 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 (NYSE:PH - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, beating 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 quarter in the prior year, the company earned $5.96 earnings per share. The business's revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, equities analysts predict that Parker-Hannifin Co. will post 26.77 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 8th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 0.94%. The ex-dividend date was Friday, November 8th. Parker-Hannifin's payout ratio is presently 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.