Parker-Hannifin Co. (NYSE:PH) Shares Acquired by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI increased its position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 33.5% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 27,644 shares of the industrial products company's stock after purchasing an additional 6,930 shares during the quarter. Citizens Financial Group Inc. RI's holdings in Parker-Hannifin were worth $17,466,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Acadian Asset Management LLC lifted its stake in shares of Parker-Hannifin by 458.1% in the first quarter. Acadian Asset Management LLC now owns 3,354 shares of the industrial products company's stock worth $1,862,000 after buying an additional 2,753 shares in the last quarter. Edgestream Partners L.P. boosted its holdings in shares of Parker-Hannifin by 40.9% during the 1st quarter. Edgestream Partners L.P. now owns 981 shares of the industrial products company's stock worth $545,000 after purchasing an additional 285 shares during the last quarter. Clearbridge Investments LLC increased its holdings in shares of Parker-Hannifin by 32.4% in the first quarter. Clearbridge Investments LLC now owns 2,650 shares of the industrial products company's stock valued at $1,473,000 after purchasing an additional 649 shares during the last quarter. Bessemer Group Inc. lifted its position in Parker-Hannifin by 162.6% during the first quarter. Bessemer Group Inc. now owns 10,109 shares of the industrial products company's stock worth $5,617,000 after buying an additional 6,260 shares in the last quarter. Finally, Crewe Advisors LLC acquired a new position in Parker-Hannifin during the first quarter worth $38,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PH has been the topic of several analyst reports. UBS Group began coverage on Parker-Hannifin in a report on Wednesday, November 13th. They set a "buy" rating and a $842.00 price target on the stock. TD Cowen boosted their target price on shares of Parker-Hannifin from $520.00 to $575.00 and gave the company a "hold" rating in a report on Tuesday, November 12th. Mizuho raised their price target on shares of Parker-Hannifin from $665.00 to $715.00 and gave the stock an "outperform" rating in a report on Thursday, October 17th. KeyCorp lifted their price target on shares of Parker-Hannifin from $640.00 to $725.00 and gave the company an "overweight" rating in a research report on Monday, October 14th. 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. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus price target of $688.07.

Insider Buying and Selling

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,430 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the sale, the vice president now owns 5,465 shares of the company's stock, valued at approximately $3,831,839.40. This trade represents a 30.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Berend Bracht sold 850 shares of the company'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 transaction, the vice president now owns 3,350 shares of the company's stock, valued at approximately $1,986,282. The trade was a 20.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,927 shares of company stock worth $12,807,811 over the last 90 days. 0.39% of the stock is owned by insiders.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $690.43 on Thursday. The firm has a 50 day moving average of $642.71 and a two-hundred day moving average of $578.38. The stock has a market capitalization of $88.87 billion, a PE ratio of 31.18, a P/E/G ratio of 2.78 and a beta of 1.43. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. Parker-Hannifin Co. has a 52 week low of $426.49 and a 52 week high of $711.60.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.14 by $0.06. The firm had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.90 billion. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. Parker-Hannifin's revenue was up 1.2% compared to the same quarter last year. During the same period last year, the business posted $5.96 earnings per share. On average, research analysts predict that Parker-Hannifin Co. will post 26.77 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The company 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 $1.63 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $6.52 annualized dividend and a yield of 0.94%. Parker-Hannifin's dividend payout ratio (DPR) is 29.45%.

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.

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