Parker-Hannifin Co. (NYSE:PH) Shares Sold by First Horizon Advisors Inc.

First Horizon Advisors Inc. decreased its holdings in Parker-Hannifin Co. (NYSE:PH - Free Report) by 3.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 20,098 shares of the industrial products company's stock after selling 821 shares during the quarter. First Horizon Advisors Inc.'s holdings in Parker-Hannifin were worth $12,698,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the stock. Kirtland Hills Capital Management LLC lifted its stake in Parker-Hannifin by 1.4% in the third quarter. Kirtland Hills Capital Management LLC now owns 2,175 shares of the industrial products company's stock worth $1,374,000 after acquiring an additional 30 shares during the period. Jennison Associates LLC lifted its position in shares of Parker-Hannifin by 13.5% in the 3rd quarter. Jennison Associates LLC now owns 334,505 shares of the industrial products company's stock worth $211,347,000 after purchasing an additional 39,837 shares during the period. PCJ Investment Counsel Ltd. increased its holdings in Parker-Hannifin by 27.2% during the third quarter. PCJ Investment Counsel Ltd. now owns 6,360 shares of the industrial products company's stock valued at $4,018,000 after buying an additional 1,360 shares during the period. Strategy Asset Managers LLC bought a new position in Parker-Hannifin in the third quarter worth approximately $355,000. Finally, PNC Financial Services Group Inc. lifted its holdings in Parker-Hannifin by 0.5% during the third quarter. PNC Financial Services Group Inc. now owns 280,716 shares of the industrial products company's stock worth $177,362,000 after buying an additional 1,427 shares during the period. 82.44% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, 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 value of $3,457,209.14. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Berend Bracht sold 850 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $592.92, for a total transaction of $503,982.00. Following the sale, the vice president now directly owns 3,350 shares in the company, valued at $1,986,282. This trade represents a 20.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,927 shares of company stock valued at $12,807,811 over the last ninety days. 0.39% of the stock is owned by insiders.

Analysts Set New Price Targets

PH has been the subject of a number of research reports. StockNews.com raised Parker-Hannifin from a "hold" rating to a "buy" rating in a research report on Saturday, October 12th. UBS Group assumed coverage on shares of Parker-Hannifin in a research report on Wednesday, November 13th. They set a "buy" rating and a $842.00 price target on the stock. Evercore ISI lifted their target price on Parker-Hannifin from $620.00 to $656.00 and gave the company an "outperform" rating in a research report on Monday, August 19th. Argus increased their price target on Parker-Hannifin from $650.00 to $710.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. Finally, Robert W. Baird lifted their target price on shares of Parker-Hannifin from $695.00 to $710.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $688.07.

Parker-Hannifin Trading Up 0.1 %

Shares of PH stock traded up $0.67 during mid-day trading on Wednesday, reaching $690.43. The stock had a trading volume of 377,486 shares, compared to its average volume of 642,132. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. The stock's 50-day moving average price is $640.59 and its two-hundred day moving average price is $577.60. The firm has a market capitalization of $88.87 billion, a PE ratio of 31.15, a price-to-earnings-growth ratio of 2.82 and a beta of 1.43. 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 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 analysts' expectations of $4.90 billion. During the same quarter last year, the business posted $5.96 EPS. The firm's revenue for the quarter was up 1.2% compared to the same quarter last year. Equities analysts expect that Parker-Hannifin Co. will post 26.77 earnings per share for the current fiscal 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. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.94%. The ex-dividend date is Friday, November 8th. Parker-Hannifin's payout ratio 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.