Pathstone Holdings LLC Buys 2,186 Shares of Parker-Hannifin Co. (NYSE:PH)

Pathstone Holdings LLC raised its stake in Parker-Hannifin Co. (NYSE:PH - Free Report) by 13.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,551 shares of the industrial products company's stock after purchasing an additional 2,186 shares during the period. Pathstone Holdings LLC's holdings in Parker-Hannifin were worth $11,721,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the stock. Boston Partners lifted its holdings in shares of Parker-Hannifin by 4.1% during the 1st quarter. Boston Partners now owns 1,111,720 shares of the industrial products company's stock worth $617,878,000 after acquiring an additional 43,535 shares during the period. Legal & General Group Plc lifted its holdings in shares of Parker-Hannifin by 1.3% during the 2nd quarter. Legal & General Group Plc now owns 985,280 shares of the industrial products company's stock worth $498,366,000 after acquiring an additional 12,615 shares during the period. AMF Tjanstepension AB lifted its holdings in shares of Parker-Hannifin by 23.0% during the 2nd quarter. AMF Tjanstepension AB now owns 758,262 shares of the industrial products company's stock worth $383,594,000 after acquiring an additional 141,862 shares during the period. Bank of Montreal Can lifted its holdings in shares of Parker-Hannifin by 11.6% during the 2nd quarter. Bank of Montreal Can now owns 735,755 shares of the industrial products company's stock worth $378,572,000 after acquiring an additional 76,629 shares during the period. Finally, Envestnet Asset Management Inc. lifted its holdings in shares of Parker-Hannifin by 18.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 652,539 shares of the industrial products company's stock worth $330,061,000 after acquiring an additional 99,959 shares during the period. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Stock Up 0.1 %

Shares of NYSE PH opened at $690.43 on Thursday. The firm has a market capitalization of $88.87 billion, a PE ratio of 31.18, a price-to-earnings-growth ratio of 2.78 and a beta of 1.43. 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 1 year low of $426.49 and a 1 year high of $711.60. The firm's 50-day moving average is $642.71 and its 200-day moving average is $578.38.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.14 by $0.06. The company had revenue of $4.90 billion for 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%. The company's revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter last year, the firm earned $5.96 EPS. Equities analysts expect that Parker-Hannifin Co. will post 26.77 EPS for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Friday, November 8th. Parker-Hannifin's dividend payout ratio (DPR) is presently 29.45%.

Insider Buying and Selling

In related news, CEO Jennifer A. Parmentier sold 4,906 shares of Parker-Hannifin stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 33,607 shares of the company's stock, valued at $23,682,516.83. This trade represents a 12.74 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Joseph R. Leonti sold 5,877 shares of Parker-Hannifin stock in a transaction that occurred on Friday, November 1st. The shares were 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 in the company, valued at approximately $9,686,464. The trade was a 27.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,927 shares of company stock valued at $12,807,811 in the last 90 days. 0.39% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

PH has been the subject of a number of recent analyst reports. Wells Fargo & Company increased their target price on shares of Parker-Hannifin from $640.00 to $710.00 and gave the stock an "overweight" rating in a research report on Monday, October 7th. KeyCorp increased their target price on shares of Parker-Hannifin from $640.00 to $725.00 and gave the stock an "overweight" rating in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Parker-Hannifin from $595.00 to $645.00 and gave the stock a "buy" rating in a research report on Friday, August 9th. Raymond James increased 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. Finally, Barclays increased their target price on shares of Parker-Hannifin from $650.00 to $703.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 2nd. Three analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Parker-Hannifin currently has a consensus rating of "Moderate Buy" and a consensus price target of $688.07.

Parker-Hannifin Company 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.