Chevy Chase Trust Holdings LLC Lowers Stake in Parker-Hannifin Co. (NYSE:PH)

Chevy Chase Trust Holdings LLC trimmed its stake in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 1.8% during the third quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 69,169 shares of the industrial products company's stock after selling 1,252 shares during the quarter. Chevy Chase Trust Holdings LLC owned 0.05% of Parker-Hannifin worth $43,702,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. International Assets Investment Management LLC lifted its holdings in shares of Parker-Hannifin by 64,081.5% in the third quarter. International Assets Investment Management LLC now owns 381,880 shares of the industrial products company's stock worth $241,279,000 after buying an additional 381,285 shares in the last quarter. Mizuho Securities USA LLC increased its holdings in Parker-Hannifin by 3,566.4% during the 3rd quarter. Mizuho Securities USA LLC now owns 363,302 shares of the industrial products company's stock worth $229,541,000 after acquiring an additional 353,393 shares during the period. FMR LLC lifted its stake in Parker-Hannifin by 7.1% in the 3rd quarter. FMR LLC now owns 4,116,257 shares of the industrial products company's stock worth $2,600,733,000 after purchasing an additional 272,531 shares in the last quarter. Mackenzie Financial Corp boosted its holdings in Parker-Hannifin by 107.7% in the 2nd quarter. Mackenzie Financial Corp now owns 271,717 shares of the industrial products company's stock valued at $137,437,000 after purchasing an additional 140,898 shares during the period. Finally, Swedbank AB grew its position in shares of Parker-Hannifin by 377.8% during the 3rd quarter. Swedbank AB now owns 158,085 shares of the industrial products company's stock valued at $99,881,000 after purchasing an additional 125,000 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the company. Wells Fargo & Company lifted their price objective on Parker-Hannifin from $640.00 to $710.00 and gave the company an "overweight" rating in a research note on Monday, October 7th. Raymond James boosted their price objective on Parker-Hannifin from $610.00 to $650.00 and gave the stock an "outperform" rating in a report on Wednesday, September 4th. UBS Group began coverage on shares of Parker-Hannifin in a research note on Wednesday, November 13th. They issued a "buy" rating and a $842.00 target price on the stock. KeyCorp boosted their price target on shares of Parker-Hannifin from $725.00 to $775.00 and gave the stock an "overweight" rating in a research note on Thursday, November 21st. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Parker-Hannifin from $595.00 to $645.00 and gave the stock a "buy" rating in a report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $691.40.

Parker-Hannifin Trading Down 0.2 %

Shares of Parker-Hannifin stock traded down $1.71 on Tuesday, hitting $698.98. The stock had a trading volume of 122,867 shares, compared to its average volume of 636,544. The stock has a market cap of $89.97 billion, a price-to-earnings ratio of 31.66, a PEG ratio of 2.84 and a beta of 1.44. Parker-Hannifin Co. has a one year low of $431.98 and a one year high of $712.42. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. The stock's 50-day simple moving average is $658.01 and its two-hundred day simple moving average is $587.06.

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

Parker-Hannifin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 8th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.93%. The ex-dividend date is Friday, November 8th. Parker-Hannifin's dividend payout ratio (DPR) is 29.45%.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, CEO Jennifer A. Parmentier sold 4,906 shares of Parker-Hannifin stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $704.69, for a total value of $3,457,209.14. Following the completion of the sale, the chief executive officer now owns 33,607 shares of the company's stock, valued at approximately $23,682,516.83. This trade represents a 12.74 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Andrew D. Ross sold 4,864 shares of the stock in a transaction on 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 sale, the chief operating officer now directly owns 13,120 shares in the company, valued at $9,263,244.80. This trade represents a 27.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,077 shares of company stock valued at $12,303,829. Insiders own 0.39% of the company's stock.

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.