Ferguson Wellman Capital Management Inc. Cuts Position in Parker-Hannifin Co. (NYSE:PH)

Ferguson Wellman Capital Management Inc. cut its stake in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 21.7% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 146,264 shares of the industrial products company's stock after selling 40,555 shares during the period. Parker-Hannifin makes up approximately 1.9% of Ferguson Wellman Capital Management Inc.'s investment portfolio, making the stock its 12th largest holding. Ferguson Wellman Capital Management Inc. owned about 0.11% of Parker-Hannifin worth $92,413,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in the stock. Banque Cantonale Vaudoise lifted its holdings in Parker-Hannifin by 89.7% during the first quarter. Banque Cantonale Vaudoise now owns 772 shares of the industrial products company's stock worth $429,000 after acquiring an additional 365 shares in the last quarter. Park Avenue Securities LLC lifted its holdings in Parker-Hannifin by 4.8% during the first quarter. Park Avenue Securities LLC now owns 7,188 shares of the industrial products company's stock worth $3,995,000 after acquiring an additional 330 shares in the last quarter. First Affirmative Financial Network bought a new stake in shares of Parker-Hannifin in the first quarter valued at about $242,000. Gulf International Bank UK Ltd lifted its holdings in shares of Parker-Hannifin by 7.9% in the first quarter. Gulf International Bank UK Ltd now owns 11,433 shares of the industrial products company's stock valued at $6,354,000 after purchasing an additional 839 shares in the last quarter. Finally, MJP Associates Inc. ADV bought a new stake in shares of Parker-Hannifin in the first quarter valued at about $308,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of Parker-Hannifin stock in a transaction dated 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 of the company's stock, valued at approximately $2,299,947. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of Parker-Hannifin stock in a transaction dated 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 of the company's stock, valued at approximately $2,299,947. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Berend Bracht sold 850 shares of Parker-Hannifin stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $592.92, for a total value of $503,982.00. Following the completion of the transaction, the vice president now directly owns 3,350 shares of the company's stock, valued at approximately $1,986,282. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by company insiders.

Parker-Hannifin Price Performance

NYSE:PH traded up $0.60 during trading hours on Friday, reaching $640.44. 612,423 shares of the company were exchanged, compared to its average volume of 638,305. The company has a market capitalization of $82.41 billion, a P/E ratio of 29.39, a P/E/G ratio of 2.61 and a beta of 1.43. Parker-Hannifin Co. has a 1-year low of $362.49 and a 1-year high of $646.60. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.93 and a quick ratio of 0.55. The business has a 50 day moving average of $606.31 and a 200 day moving average of $559.95.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings results on Thursday, August 8th. The industrial products company reported $6.77 earnings per share (EPS) 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 business 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 posted $6.08 earnings per share. The firm's quarterly revenue was up 1.8% compared to the same quarter last year. Research analysts forecast that Parker-Hannifin Co. will post 26.64 EPS for the current year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Wednesday, August 28th were paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.02%. The ex-dividend date of this dividend was Wednesday, August 28th. Parker-Hannifin's payout ratio is presently 29.92%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PH. Stifel Nicolaus boosted their price target on Parker-Hannifin from $633.00 to $691.00 and gave the company a "buy" rating in a report on Wednesday, October 2nd. Robert W. Baird boosted their price target on Parker-Hannifin from $622.00 to $654.00 and gave the company an "outperform" rating in a report on Friday, August 9th. Mizuho upped their target price on Parker-Hannifin from $665.00 to $715.00 and gave the stock an "outperform" rating in a report on Thursday. TD Cowen upped their target price on Parker-Hannifin from $500.00 to $520.00 and gave the stock a "hold" rating in a report on Wednesday, September 11th. Finally, Evercore ISI upped their target price on Parker-Hannifin from $620.00 to $656.00 and gave the stock an "outperform" rating in a report on Monday, August 19th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $660.57.

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.