Parker-Hannifin Co. (NYSE:PH) Shares Acquired by Wellington Management Group LLP

Wellington Management Group LLP increased its stake in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 39.9% during the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,977,849 shares of the industrial products company's stock after acquiring an additional 564,365 shares during the period. Wellington Management Group LLP owned approximately 1.54% of Parker-Hannifin worth $1,249,645,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PH. Worldquant Millennium Advisors LLC boosted its position in Parker-Hannifin by 10.3% in the 3rd quarter. Worldquant Millennium Advisors LLC now owns 111,320 shares of the industrial products company's stock valued at $70,334,000 after buying an additional 10,384 shares during the last quarter. Stansberry Asset Management LLC boosted its holdings in Parker-Hannifin by 6.4% in the third quarter. Stansberry Asset Management LLC now owns 12,177 shares of the industrial products company's stock valued at $7,694,000 after purchasing an additional 730 shares during the last quarter. State Street Corp grew its stake in Parker-Hannifin by 13.8% during the 3rd quarter. State Street Corp now owns 6,202,235 shares of the industrial products company's stock valued at $3,918,696,000 after purchasing an additional 753,143 shares in the last quarter. Stifel Financial Corp increased its holdings in Parker-Hannifin by 9.3% during the 3rd quarter. Stifel Financial Corp now owns 264,722 shares of the industrial products company's stock worth $167,267,000 after purchasing an additional 22,572 shares during the last quarter. Finally, Quantinno Capital Management LP raised its position in shares of Parker-Hannifin by 34.3% in the 3rd quarter. Quantinno Capital Management LP now owns 7,979 shares of the industrial products company's stock valued at $5,042,000 after purchasing an additional 2,039 shares in the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Parker-Hannifin news, VP Joseph R. Leonti sold 5,877 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $631.04, for a total transaction of $3,708,622.08. Following the completion of the transaction, the vice president now directly owns 15,350 shares of the company's stock, valued at approximately $9,686,464. This trade represents a 27.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Andrew D. Ross sold 4,864 shares of the business's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $706.04, for a total value of $3,434,178.56. Following the completion of the sale, the chief operating officer now directly owns 13,120 shares in the company, valued at $9,263,244.80. This represents a 27.05 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,077 shares of company stock valued at $12,303,829. Company insiders own 0.39% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on PH. Barclays raised their price target on shares of Parker-Hannifin from $703.00 to $800.00 and gave the stock an "overweight" rating in a research report on Thursday. Raymond James boosted their target price on shares of Parker-Hannifin from $610.00 to $650.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 4th. Evercore ISI increased their price target on shares of Parker-Hannifin from $620.00 to $656.00 and gave the stock an "outperform" rating in a research report on Monday, August 19th. Wells Fargo & Company lifted their price target on Parker-Hannifin from $640.00 to $710.00 and gave the stock an "overweight" rating in a research note on Monday, October 7th. Finally, Jefferies Financial Group upped their price objective on Parker-Hannifin from $765.00 to $810.00 and gave the company a "buy" rating in a research note on Friday. Three research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $704.88.

Parker-Hannifin Stock Performance

Shares of PH traded up $1.45 during midday trading on Friday, hitting $696.16. 371,942 shares of the stock traded hands, compared to its average volume of 499,162. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96. Parker-Hannifin Co. has a 1-year low of $431.98 and a 1-year high of $712.42. The business's 50 day moving average price is $662.19 and its two-hundred day moving average price is $589.65. The firm has a market capitalization of $89.61 billion, a PE ratio of 31.44, a price-to-earnings-growth ratio of 2.81 and a beta of 1.43.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its earnings results on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, topping the consensus estimate of $6.14 by $0.06. The firm had revenue of $4.90 billion during the quarter, compared to analysts' expectations of $4.90 billion. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. Parker-Hannifin's quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.96 EPS. Equities research analysts predict that Parker-Hannifin Co. will post 26.77 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 8th were paid a $1.63 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $6.52 annualized dividend and a dividend yield of 0.94%. Parker-Hannifin's payout ratio is 29.45%.

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.