McGlone Suttner Wealth Management Inc. Buys Shares of 1,213 Parker-Hannifin Co. (NYSE:PH)

McGlone Suttner Wealth Management Inc. acquired a new stake in Parker-Hannifin Co. (NYSE:PH - Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 1,213 shares of the industrial products company's stock, valued at approximately $766,000.

A number of other hedge funds have also recently added to or reduced their stakes in PH. 1832 Asset Management L.P. increased its holdings in 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 valued at $171,069,000 after buying an additional 231,788 shares in the last quarter. AMF Tjanstepension AB increased its holdings in Parker-Hannifin by 23.0% in 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. Mackenzie Financial Corp increased its holdings in Parker-Hannifin by 107.7% in 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. Congress Asset Management Co. MA increased its holdings in Parker-Hannifin by 503.9% in the first quarter. Congress Asset Management Co. MA now owns 156,196 shares of the industrial products company's stock valued at $86,812,000 after buying an additional 130,331 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale increased its holdings in Parker-Hannifin by 32.8% in the first quarter. DekaBank Deutsche Girozentrale now owns 466,791 shares of the industrial products company's stock valued at $258,971,000 after buying an additional 115,234 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company's stock.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of Parker-Hannifin stock in a transaction that occurred on 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 directly owns 3,900 shares of the company's stock, valued at $2,299,947. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, VP Berend Bracht sold 850 shares of the business's stock in a transaction 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 transaction, the vice president now directly owns 3,350 shares of the company's stock, valued at approximately $1,986,282. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Joseph Scaminace sold 1,751 shares of the business's stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the transaction, the director now directly owns 3,900 shares in the company, valued at approximately $2,299,947. The trade was 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 corporate insiders.

Parker-Hannifin Trading Up 0.9 %

NYSE:PH traded up $5.63 during trading hours on Friday, reaching $637.15. 485,506 shares of the company were exchanged, compared to its average volume of 640,334. Parker-Hannifin Co. has a 52-week low of $362.49 and a 52-week high of $640.00. The stock has a 50 day simple moving average of $595.82 and a 200 day simple moving average of $556.93. The firm has a market cap of $81.90 billion, a price-to-earnings ratio of 30.03, a PEG ratio of 2.57 and a beta of 1.43. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.93 and a quick ratio of 0.55.

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

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Wednesday, August 28th were given a dividend of $1.63 per share. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $6.52 dividend on an annualized basis and a yield of 1.02%. Parker-Hannifin's dividend payout ratio (DPR) is 30.73%.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on PH shares. Deutsche Bank Aktiengesellschaft increased their target price on shares of Parker-Hannifin from $595.00 to $645.00 and gave the company a "buy" rating in a report on Friday, August 9th. Barclays raised their price objective on shares of Parker-Hannifin from $650.00 to $703.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 2nd. TD Cowen raised their price objective on shares of Parker-Hannifin from $500.00 to $520.00 and gave the stock a "hold" rating in a research note on Wednesday, September 11th. Evercore ISI raised their price objective 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. Finally, Stifel Nicolaus raised their price objective on shares of Parker-Hannifin from $633.00 to $691.00 and gave the stock a "buy" rating in a research note on Wednesday, October 2nd. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Parker-Hannifin has a consensus rating of "Moderate Buy" and a consensus price target of $649.86.

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.