Community Trust & Investment Co. Sells 4,328 Shares of Parker-Hannifin Co. (NYSE:PH)

Community Trust & Investment Co. reduced its position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 9.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 39,649 shares of the industrial products company's stock after selling 4,328 shares during the period. Parker-Hannifin makes up approximately 1.6% of Community Trust & Investment Co.'s investment portfolio, making the stock its 15th biggest position. Community Trust & Investment Co.'s holdings in Parker-Hannifin were worth $25,218,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. Franklin Resources Inc. increased its holdings in Parker-Hannifin by 39.2% in the 3rd quarter. Franklin Resources Inc. now owns 645,516 shares of the industrial products company's stock worth $415,409,000 after purchasing an additional 181,859 shares in the last quarter. Wilkinson Global Asset Management LLC grew its holdings in shares of Parker-Hannifin by 59.1% during the third quarter. Wilkinson Global Asset Management LLC now owns 39,093 shares of the industrial products company's stock worth $24,700,000 after purchasing an additional 14,526 shares during the last quarter. Banco Santander S.A. increased its stake in shares of Parker-Hannifin by 11.9% in the third quarter. Banco Santander S.A. now owns 14,478 shares of the industrial products company's stock valued at $9,147,000 after buying an additional 1,544 shares during the period. Ritholtz Wealth Management raised its holdings in Parker-Hannifin by 88.4% in the 3rd quarter. Ritholtz Wealth Management now owns 1,473 shares of the industrial products company's stock valued at $931,000 after buying an additional 691 shares during the last quarter. Finally, FMR LLC boosted its position in Parker-Hannifin by 7.1% during the 3rd quarter. FMR LLC now owns 4,116,257 shares of the industrial products company's stock worth $2,600,733,000 after buying an additional 272,531 shares during the period. Institutional investors and hedge funds own 82.44% of the company's stock.

Insider Buying and Selling at Parker-Hannifin

In related news, COO Andrew D. Ross sold 4,864 shares of the firm's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total transaction of $3,434,178.56. Following the completion of the sale, the chief operating officer now owns 13,120 shares in the company, valued at approximately $9,263,244.80. This trade represents a 27.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jennifer A. Parmentier sold 4,906 shares of the business's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $704.69, for a total transaction of $3,457,209.14. Following the completion of the transaction, the chief executive officer now owns 33,607 shares in the company, valued at approximately $23,682,516.83. The trade was a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,077 shares of company stock worth $12,303,829. Corporate insiders own 0.39% of the company's stock.

Parker-Hannifin Stock Up 1.4 %

Parker-Hannifin stock traded up $9.07 during midday trading on Wednesday, reaching $656.08. The stock had a trading volume of 701,202 shares, compared to its average volume of 569,644. The company has a fifty day moving average price of $673.15 and a two-hundred day moving average price of $616.80. The company has a market capitalization of $84.45 billion, a P/E ratio of 29.63, a PEG ratio of 2.71 and a beta of 1.45. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. Parker-Hannifin Co. has a 12 month low of $453.18 and a 12 month high of $712.42.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly 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. The business had revenue of $4.90 billion during the quarter, compared to analyst estimates 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 previous year, the business posted $5.96 EPS. As a group, equities analysts expect that Parker-Hannifin Co. will post 26.75 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 8th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 0.99%. The ex-dividend date of this dividend was Friday, November 8th. Parker-Hannifin's payout ratio is currently 29.45%.

Analysts Set New Price Targets

PH has been the subject of several recent research reports. UBS Group began coverage on shares of Parker-Hannifin in a research report on Wednesday, November 13th. They issued a "buy" rating and a $842.00 price target for the company. Robert W. Baird increased their price objective on Parker-Hannifin from $695.00 to $710.00 and gave the company an "outperform" rating in a report on Friday, November 1st. KeyCorp lifted their target price on Parker-Hannifin from $725.00 to $775.00 and gave the stock an "overweight" rating in a report on Thursday, November 21st. Jefferies Financial Group increased their price target on Parker-Hannifin from $765.00 to $810.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Finally, Stifel Nicolaus lowered Parker-Hannifin from a "buy" rating to a "hold" rating and set a $691.00 price objective on the stock. in a research note on Monday, November 18th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $722.94.

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.