PCJ Investment Counsel Ltd. Buys 1,360 Shares of Parker-Hannifin Co. (NYSE:PH)

PCJ Investment Counsel Ltd. boosted its holdings in Parker-Hannifin Co. (NYSE:PH - Free Report) by 27.2% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,360 shares of the industrial products company's stock after acquiring an additional 1,360 shares during the period. Parker-Hannifin accounts for about 1.3% of PCJ Investment Counsel Ltd.'s investment portfolio, making the stock its 25th largest position. PCJ Investment Counsel Ltd.'s holdings in Parker-Hannifin were worth $4,018,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Addison Advisors LLC acquired a new stake in Parker-Hannifin in the 2nd quarter worth approximately $25,000. West Branch Capital LLC acquired a new position in Parker-Hannifin in the 3rd quarter valued at $25,000. Bangor Savings Bank increased its holdings in Parker-Hannifin by 238.5% in the 3rd quarter. Bangor Savings Bank now owns 44 shares of the industrial products company's stock worth $28,000 after purchasing an additional 31 shares in the last quarter. Fortitude Family Office LLC boosted its position in shares of Parker-Hannifin by 346.7% during the 2nd quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company's stock valued at $34,000 after purchasing an additional 52 shares in the last quarter. Finally, Crewe Advisors LLC bought a new position in shares of Parker-Hannifin in the first quarter valued at approximately $38,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on PH. Mizuho lifted their price objective on Parker-Hannifin from $665.00 to $715.00 and gave the stock an "outperform" rating in a report on Thursday, October 17th. Evercore ISI lifted their price objective on shares of Parker-Hannifin from $620.00 to $656.00 and gave the company an "outperform" rating in a report on Monday, August 19th. Argus boosted their target price on shares of Parker-Hannifin from $650.00 to $710.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. KeyCorp boosted their target price on shares of Parker-Hannifin from $640.00 to $725.00 and gave the company an "overweight" rating in a report on Monday, October 14th. Finally, Stifel Nicolaus lowered shares of Parker-Hannifin from a "buy" rating to a "hold" rating and set a $691.00 price target on the stock. in a research note on Monday. Three research 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, Parker-Hannifin has a consensus rating of "Moderate Buy" and a consensus target price of $688.07.

Parker-Hannifin Price Performance

NYSE:PH traded down $0.85 during mid-day trading on Wednesday, reaching $688.91. The stock had a trading volume of 202,593 shares, compared to its average volume of 641,321. Parker-Hannifin Co. has a 12 month low of $426.49 and a 12 month high of $711.60. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57. The stock has a market capitalization of $88.68 billion, a PE ratio of 31.15, a P/E/G ratio of 2.82 and a beta of 1.43. The stock has a 50-day simple moving average of $640.59 and a two-hundred day simple moving average of $577.60.

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 for the quarter, topping analysts' consensus estimates of $6.14 by $0.06. The company had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.90 billion. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. Parker-Hannifin's quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.96 EPS. On average, equities analysts anticipate that Parker-Hannifin Co. will post 26.77 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The firm also recently declared 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 is Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a yield of 0.95%. Parker-Hannifin's payout ratio is 29.45%.

Insider Buying and Selling

In other Parker-Hannifin news, COO Andrew D. Ross sold 4,864 shares of the business's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total value of $3,434,178.56. Following the transaction, the chief operating officer now directly owns 13,120 shares in the company, valued at $9,263,244.80. The trade was a 27.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Jennifer A. Parmentier sold 4,906 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $704.69, for a total transaction of $3,457,209.14. Following the transaction, the chief executive officer now owns 33,607 shares of the company's stock, valued at $23,682,516.83. The trade was a 12.74 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,927 shares of company stock worth $12,807,811. Company insiders own 0.39% of the company's stock.

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.