Smith Group Asset Management LLC Sells 5,444 Shares of Parker-Hannifin Co. (NYSE:PH)

Smith Group Asset Management LLC reduced its stake in Parker-Hannifin Co. (NYSE:PH - Free Report) by 8.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 63,019 shares of the industrial products company's stock after selling 5,444 shares during the period. Parker-Hannifin makes up about 3.3% of Smith Group Asset Management LLC's holdings, making the stock its 5th largest holding. Smith Group Asset Management LLC's holdings in Parker-Hannifin were worth $39,817,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of PH. CVA Family Office LLC lifted its stake in Parker-Hannifin by 3.9% during the third quarter. CVA Family Office LLC now owns 425 shares of the industrial products company's stock worth $269,000 after purchasing an additional 16 shares during the last quarter. Fidelis Capital Partners LLC lifted its position in shares of Parker-Hannifin by 2.3% during the 1st quarter. Fidelis Capital Partners LLC now owns 851 shares of the industrial products company's stock worth $473,000 after buying an additional 19 shares during the last quarter. Sonoma Private Wealth LLC raised its stake in Parker-Hannifin by 2.9% during the 3rd quarter. Sonoma Private Wealth LLC now owns 667 shares of the industrial products company's stock worth $421,000 after acquiring an additional 19 shares in the last quarter. American Trust raised its stake in Parker-Hannifin by 3.2% during the 1st quarter. American Trust now owns 649 shares of the industrial products company's stock worth $361,000 after acquiring an additional 20 shares in the last quarter. Finally, TFG Advisers LLC lifted its position in Parker-Hannifin by 0.9% in the second quarter. TFG Advisers LLC now owns 2,171 shares of the industrial products company's stock valued at $1,098,000 after acquiring an additional 20 shares during the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Parker-Hannifin Trading Up 0.2 %

NYSE:PH traded up $1.46 during mid-day trading on Tuesday, reaching $625.11. The company's stock had a trading volume of 534,040 shares, compared to its average volume of 633,420. 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 stock has a market cap of $80.43 billion, a P/E ratio of 28.69, a P/E/G ratio of 2.52 and a beta of 1.43. The company's fifty day simple moving average is $612.93 and its two-hundred day simple moving average is $563.35. Parker-Hannifin Co. has a twelve month low of $362.49 and a twelve month high of $646.60.

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

Parker-Hannifin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 8th will be issued 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 1.04%. Parker-Hannifin's payout ratio is currently 29.92%.

Insider Buying and Selling

In related news, VP Berend Bracht sold 850 shares of the firm'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 completion of the sale, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Berend Bracht sold 850 shares of the 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 owns 3,350 shares of the company's stock, valued at approximately $1,986,282. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Joseph Scaminace sold 1,751 shares of Parker-Hannifin stock in a transaction that occurred 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 sale, the director now owns 3,900 shares in the company, valued at $2,299,947. This 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 corporate insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on PH. Stifel Nicolaus boosted their price objective on Parker-Hannifin from $633.00 to $691.00 and gave the company a "buy" rating in a research note on Wednesday, October 2nd. KeyCorp increased their price target on shares of Parker-Hannifin from $640.00 to $725.00 and gave the stock an "overweight" rating in a research note on Monday, October 14th. TD Cowen increased their target price 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. Raymond James boosted their price target on Parker-Hannifin from $610.00 to $650.00 and gave the company an "outperform" rating in a research report on Wednesday, September 4th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on Parker-Hannifin from $595.00 to $645.00 and gave the stock a "buy" rating in a research report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $660.57.

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.