Parker-Hannifin Co. (NYSE:PH) Shares Bought by Swedbank AB

Swedbank AB lifted its position in Parker-Hannifin Co. (NYSE:PH - Free Report) by 377.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 158,085 shares of the industrial products company's stock after purchasing an additional 125,000 shares during the quarter. Swedbank AB owned about 0.12% of Parker-Hannifin worth $99,881,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Addison Advisors LLC purchased a new position in shares of Parker-Hannifin during the 2nd quarter valued at approximately $25,000. Bangor Savings Bank grew its holdings in shares of Parker-Hannifin by 238.5% in the third quarter. Bangor Savings Bank now owns 44 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 31 shares during the period. Harbor Investment Advisory LLC lifted its stake in Parker-Hannifin by 60.6% during the 1st quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company's stock worth $29,000 after acquiring an additional 20 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in shares of Parker-Hannifin during the fourth quarter worth about $30,000. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Parker-Hannifin during the first quarter worth $31,000. Institutional investors and hedge funds own 82.44% of the company's stock.

Insider Buying and Selling

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 directly owns 3,900 shares in the company, valued at approximately $2,299,947. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, Director Joseph Scaminace sold 1,751 shares of Parker-Hannifin 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 completion of the transaction, the director now owns 3,900 shares of the company's stock, valued at $2,299,947. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Berend Bracht sold 850 shares of the stock in a transaction dated 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 directly owns 3,350 shares in the company, valued at approximately $1,986,282. 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 Stock Performance

Parker-Hannifin stock traded down $0.54 during mid-day trading on Wednesday, reaching $637.48. 461,904 shares of the company were exchanged, compared to its average volume of 638,937. The firm's 50-day simple moving average is $600.97 and its two-hundred day simple moving average is $558.12. Parker-Hannifin Co. has a twelve month low of $362.49 and a twelve month high of $646.60. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.55 and a current ratio of 0.93. The firm has a market cap of $81.94 billion, a PE ratio of 30.05, a price-to-earnings-growth ratio of 2.57 and a beta of 1.43.

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

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Wednesday, August 28th were issued a $1.63 dividend. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $6.52 annualized dividend and a dividend yield of 1.02%. Parker-Hannifin's dividend payout ratio is currently 30.73%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Wells Fargo & Company boosted their price target on shares of Parker-Hannifin from $640.00 to $710.00 and gave the stock an "overweight" rating in a report on Monday, October 7th. Stifel Nicolaus raised their price target on Parker-Hannifin from $633.00 to $691.00 and gave the company a "buy" rating in a research note on Wednesday, October 2nd. Raymond James upped their price objective on Parker-Hannifin from $610.00 to $650.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 4th. StockNews.com upgraded shares of Parker-Hannifin from a "hold" rating to a "buy" rating in a research note on Saturday. Finally, TD Cowen increased their target price on shares of Parker-Hannifin from $500.00 to $520.00 and gave the company a "hold" rating in a research report on Wednesday, September 11th. Two investment 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, the company has a consensus rating of "Moderate Buy" and a consensus target price of $655.93.

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.