UMB Bank n.a. Sells 1,418 Shares of Parker-Hannifin Co. (NYSE:PH)

UMB Bank n.a. reduced its position in Parker-Hannifin Co. (NYSE:PH - Free Report) by 2.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 58,359 shares of the industrial products company's stock after selling 1,418 shares during the quarter. UMB Bank n.a.'s holdings in Parker-Hannifin were worth $36,872,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PH. Addison Advisors LLC bought a new stake in shares of Parker-Hannifin in the 2nd quarter valued at about $25,000. Bangor Savings Bank lifted its stake in shares of Parker-Hannifin by 238.5% in the 3rd quarter. Bangor Savings Bank now owns 44 shares of the industrial products company's stock valued at $28,000 after acquiring an additional 31 shares during the last quarter. Harbor Investment Advisory LLC lifted its stake in shares of Parker-Hannifin by 60.6% in the 1st quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company's stock valued at $29,000 after acquiring an additional 20 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new stake in shares of Parker-Hannifin in the 4th quarter valued at about $30,000. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Parker-Hannifin in the 1st quarter valued at about $31,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on PH shares. TD Cowen boosted their target price on Parker-Hannifin from $500.00 to $520.00 and gave the company a "hold" rating in a research note on Wednesday, September 11th. Stifel Nicolaus upped their price target on Parker-Hannifin from $633.00 to $691.00 and gave the company a "buy" rating in a research report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft upped their price target on Parker-Hannifin from $595.00 to $645.00 and gave the company a "buy" rating in a research report on Friday, August 9th. Wells Fargo & Company upped their price target on Parker-Hannifin from $640.00 to $710.00 and gave the company an "overweight" rating in a research report on Monday. Finally, Raymond James upped their price target on Parker-Hannifin from $610.00 to $650.00 and gave the company an "outperform" rating in a research report on Wednesday, September 4th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Parker-Hannifin has a consensus rating of "Moderate Buy" and a consensus target price of $649.86.

Parker-Hannifin Stock Down 0.2 %

Shares of PH stock traded down $1.32 during midday trading on Thursday, reaching $631.47. 320,969 shares of the stock were exchanged, compared to its average volume of 641,226. Parker-Hannifin Co. has a 1 year low of $362.49 and a 1 year high of $639.87. The company's 50 day moving average is $591.50 and its two-hundred day moving average is $555.75. The company has a current ratio of 0.93, a quick ratio of 0.55 and a debt-to-equity ratio of 0.59. The firm has a market cap of $81.17 billion, a PE ratio of 29.82, a price-to-earnings-growth ratio of 2.55 and a beta of 1.43.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its earnings results on Thursday, August 8th. The industrial products company reported $6.77 earnings per share for the quarter, topping analysts' consensus estimates of $6.22 by $0.55. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. The firm had revenue of $5.19 billion for the quarter, compared to the consensus estimate of $5.08 billion. During the same quarter in the prior year, the business earned $6.08 EPS. The business's revenue for the quarter was up 1.8% on a year-over-year basis. On average, equities research analysts predict that Parker-Hannifin Co. will post 26.64 EPS for the current year.

Parker-Hannifin Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Wednesday, August 28th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend was Wednesday, August 28th. Parker-Hannifin's payout ratio is 30.73%.

Insider Activity at Parker-Hannifin

In related news, VP Berend Bracht sold 850 shares of the firm'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 sale, the vice president now owns 3,350 shares of the company's stock, valued at $1,986,282. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of the company's stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the transaction, the director now owns 3,900 shares in the company, valued at approximately $2,299,947. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Berend Bracht sold 850 shares of Parker-Hannifin stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $592.92, for a total transaction of $503,982.00. Following the completion of the sale, the vice president now owns 3,350 shares of the company's stock, valued at $1,986,282. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.03% of the stock is currently owned by insiders.

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.