Parker-Hannifin Co. (NYSE:PH) Shares Acquired by DekaBank Deutsche Girozentrale

DekaBank Deutsche Girozentrale raised its holdings in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 0.2% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 469,619 shares of the industrial products company's stock after acquiring an additional 972 shares during the quarter. DekaBank Deutsche Girozentrale owned approximately 0.37% of Parker-Hannifin worth $295,130,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also modified their holdings of PH. Grimes & Company Inc. purchased a new position in shares of Parker-Hannifin during the 1st quarter valued at $212,000. LVW Advisors LLC bought a new stake in Parker-Hannifin in the 1st quarter valued at $484,000. Miracle Mile Advisors LLC increased its holdings in Parker-Hannifin by 7.9% in the 1st quarter. Miracle Mile Advisors LLC now owns 709 shares of the industrial products company's stock valued at $394,000 after acquiring an additional 52 shares during the last quarter. Congress Wealth Management LLC DE bought a new stake in Parker-Hannifin in the 1st quarter valued at $12,540,000. Finally, Applied Capital LLC FL increased its holdings in Parker-Hannifin by 2.0% in the 1st quarter. Applied Capital LLC FL now owns 6,404 shares of the industrial products company's stock valued at $3,559,000 after acquiring an additional 126 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company's stock.

Parker-Hannifin Stock Down 0.4 %

Shares of PH traded down $2.40 during mid-day trading on Friday, hitting $621.74. The company's stock had a trading volume of 385,779 shares, compared to its average volume of 634,647. The company's 50-day moving average is $611.33 and its 200-day moving average is $562.35. Parker-Hannifin Co. has a 52-week low of $362.49 and a 52-week high of $646.60. The firm has a market capitalization of $80.00 billion, a price-to-earnings ratio of 28.53, a PEG ratio of 2.55 and a beta of 1.43. The company has a current ratio of 0.93, a quick ratio of 0.55 and a debt-to-equity ratio of 0.59.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings results on Thursday, August 8th. The industrial products company reported $6.77 earnings per share for the quarter, topping the consensus estimate of $6.22 by $0.55. Parker-Hannifin had a net margin of 14.27% and a return on equity of 29.08%. The firm had revenue of $5.19 billion during the quarter, compared to analysts' expectations of $5.08 billion. During the same quarter in the prior year, the company earned $6.08 EPS. The company's revenue was up 1.8% compared to the same quarter last year. On average, equities research analysts forecast that Parker-Hannifin Co. will post 26.68 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

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

Insider Buying and Selling

In related news, VP Berend Bracht sold 850 shares of the business'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 transaction, the vice president now owns 3,350 shares in the company, valued at $1,986,282. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In related news, VP Berend Bracht sold 850 shares of the business'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 transaction, the vice president now owns 3,350 shares in the company, valued at $1,986,282. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Joseph Scaminace sold 1,751 shares of the business's stock in a transaction that occurred 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 owns 3,900 shares of the company's stock, valued at approximately $2,299,947. 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 company insiders.

Analysts Set New Price Targets

PH has been the topic of a number of research reports. Wells Fargo & Company lifted their price target on shares of Parker-Hannifin from $640.00 to $710.00 and gave the company an "overweight" rating in a report on Monday, October 7th. KeyCorp boosted their target price on shares of Parker-Hannifin from $640.00 to $725.00 and gave the stock an "overweight" rating in a report on Monday, October 14th. StockNews.com upgraded shares of Parker-Hannifin from a "hold" rating to a "buy" rating in a report on Saturday, October 12th. Barclays boosted their target price on shares of Parker-Hannifin from $650.00 to $703.00 and gave the stock an "overweight" rating in a report on Wednesday, October 2nd. Finally, Stifel Nicolaus boosted their target price on shares of Parker-Hannifin from $633.00 to $691.00 and gave the stock a "buy" rating in a report on Wednesday, October 2nd. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company's stock. Based on data from MarketBeat, Parker-Hannifin has a consensus rating of "Moderate Buy" and an average target price of $660.57.

About Parker-Hannifin

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.