First Trust Direct Indexing L.P. Purchases 1,505 Shares of Parker-Hannifin Co. (NYSE:PH)

First Trust Direct Indexing L.P. grew its position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 32.3% during the third quarter, according to its most recent filing with the SEC. The firm owned 6,158 shares of the industrial products company's stock after acquiring an additional 1,505 shares during the period. First Trust Direct Indexing L.P.'s holdings in Parker-Hannifin were worth $3,891,000 at the end of the most recent quarter.

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

Insider Transactions at Parker-Hannifin

In other news, VP Berend Bracht sold 850 shares of the company'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 approximately $1,986,282. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other news, VP Berend Bracht sold 850 shares of the business'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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph Scaminace sold 1,751 shares of the firm's 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 completion of the transaction, the director now directly owns 3,900 shares in the company, valued at $2,299,947. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.39% of the company's stock.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on PH. Stifel Nicolaus boosted their price target on Parker-Hannifin from $633.00 to $691.00 and gave the stock a "buy" rating in a research note on Wednesday, October 2nd. KeyCorp boosted their price target on Parker-Hannifin from $640.00 to $725.00 and gave the company an "overweight" rating in a research note on Monday, October 14th. Raymond James raised their target price on Parker-Hannifin from $610.00 to $650.00 and gave the stock an "outperform" rating in a report on Wednesday, September 4th. 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. Finally, Robert W. Baird raised 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. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $660.57.

Parker-Hannifin Price Performance

Shares of NYSE PH traded up $0.11 during midday trading on Wednesday, reaching $625.22. 263,346 shares of the stock traded hands, compared to its average volume of 631,658. The company's 50 day moving average is $612.93 and its 200 day moving average is $563.35. Parker-Hannifin Co. has a one year low of $362.49 and a one year high of $646.60. The stock has a market capitalization of $80.45 billion, a PE ratio of 28.73, a P/E/G ratio of 2.52 and a beta of 1.43. 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 posted its 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 firm had revenue of $5.19 billion for the quarter, compared to the consensus estimate of $5.08 billion. During the same period in the previous year, the firm posted $6.08 EPS. The business's quarterly revenue was up 1.8% on a year-over-year basis. On average, equities research analysts anticipate that Parker-Hannifin Co. will post 26.68 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $6.52 annualized dividend and a dividend yield of 1.04%. Parker-Hannifin's dividend payout ratio (DPR) is presently 29.92%.

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.

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