Parker-Hannifin Co. (NYSE:PH) Shares Acquired by Forsta AP Fonden

Forsta AP Fonden boosted its holdings in Parker-Hannifin Co. (NYSE:PH - Free Report) by 18.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 34,400 shares of the industrial products company's stock after acquiring an additional 5,300 shares during the quarter. Forsta AP Fonden's holdings in Parker-Hannifin were worth $21,735,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of PH. Vanguard Group Inc. grew its position in shares of Parker-Hannifin by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 10,566,391 shares of the industrial products company's stock worth $5,872,694,000 after buying an additional 105,475 shares during the period. Boston Partners increased its position in Parker-Hannifin by 4.1% during the first quarter. Boston Partners now owns 1,111,720 shares of the industrial products company's stock worth $617,878,000 after buying an additional 43,535 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of Parker-Hannifin by 1.3% during the 2nd quarter. Legal & General Group Plc now owns 985,280 shares of the industrial products company's stock worth $498,366,000 after acquiring an additional 12,615 shares during the last quarter. AMF Tjanstepension AB lifted its stake in shares of Parker-Hannifin by 23.0% during the 2nd quarter. AMF Tjanstepension AB now owns 758,262 shares of the industrial products company's stock worth $383,594,000 after buying an additional 141,862 shares during the last quarter. Finally, Bank of Montreal Can lifted its position in Parker-Hannifin by 11.6% during the second quarter. Bank of Montreal Can now owns 735,755 shares of the industrial products company's stock worth $378,572,000 after acquiring an additional 76,629 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently issued reports 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 research note on Wednesday, October 2nd. Barclays raised their price objective on shares of Parker-Hannifin from $650.00 to $703.00 and gave the company an "overweight" rating in a report on Wednesday, October 2nd. Evercore ISI upped their price target on Parker-Hannifin from $620.00 to $656.00 and gave the company an "outperform" rating in a research report on Monday, August 19th. Robert W. Baird raised their price target on shares of Parker-Hannifin from $622.00 to $654.00 and gave the stock an "outperform" rating in a report on Friday, August 9th. Finally, Raymond James boosted their price objective on Parker-Hannifin from $610.00 to $650.00 and gave the company an "outperform" rating in a research note on Wednesday, September 4th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, Parker-Hannifin presently has an average rating of "Moderate Buy" and a consensus target price of $660.57.

Parker-Hannifin Stock Performance

Parker-Hannifin stock traded down $2.40 during mid-day trading on Friday, reaching $621.74. 385,779 shares of the stock traded hands, compared to its average volume of 634,647. The business's 50-day moving average is $611.33 and its 200-day moving average is $562.29. The stock has a market capitalization of $80.00 billion, a PE ratio of 28.53, a price-to-earnings-growth ratio of 2.55 and a beta of 1.43. Parker-Hannifin Co. has a 12-month low of $362.49 and a 12-month 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.

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. The business had revenue of $5.19 billion during the quarter, compared to analyst estimates of $5.08 billion. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. Parker-Hannifin's revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.08 EPS. As a group, sell-side analysts predict that Parker-Hannifin Co. will post 26.68 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 8th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.05%. The ex-dividend date is Friday, November 8th. Parker-Hannifin's payout ratio is 29.92%.

Insider Buying and Selling

In other news, Director Joseph Scaminace sold 1,751 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $589.73, for a total value of $1,032,617.23. Following the completion of the sale, the director now owns 3,900 shares of the company's stock, valued at $2,299,947. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In related 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 value of $1,032,617.23. Following the completion of the transaction, the director now directly owns 3,900 shares in the company, valued at approximately $2,299,947. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Berend Bracht sold 850 shares of the business's 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 transaction, 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 position. The disclosure for this sale can be found here. 0.39% 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.