PNC Financial Services Group Inc. Purchases 1,427 Shares of Parker-Hannifin Co. (NYSE:PH)

PNC Financial Services Group Inc. grew its holdings in Parker-Hannifin Co. (NYSE:PH - Free Report) by 0.5% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 280,716 shares of the industrial products company's stock after buying an additional 1,427 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.22% of Parker-Hannifin worth $177,362,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Addison Advisors LLC bought a new position in Parker-Hannifin in the second quarter worth about $25,000. West Branch Capital LLC purchased a new position in shares of Parker-Hannifin in the 3rd quarter valued at approximately $25,000. Bangor Savings Bank boosted its position in shares of Parker-Hannifin by 238.5% during the third quarter. Bangor Savings Bank now owns 44 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 31 shares in the last quarter. Fortitude Family Office LLC grew its stake in Parker-Hannifin by 346.7% in the second quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company's stock worth $34,000 after purchasing an additional 52 shares during the period. Finally, Crewe Advisors LLC bought a new position in Parker-Hannifin in the first quarter worth $38,000. Hedge funds and other institutional investors own 82.44% of the company's stock.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, VP Joseph R. Leonti sold 5,877 shares of the company's stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $631.04, for a total value 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 $9,686,464. This represents a 27.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, VP Berend Bracht sold 850 shares of the firm's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $592.92, for a total transaction of $503,982.00. Following the sale, the vice president now owns 3,350 shares in the company, valued at $1,986,282. The trade was a 20.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,927 shares of company stock worth $12,807,811. 0.39% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently weighed in on PH shares. UBS Group assumed coverage on shares of Parker-Hannifin in a research report on Wednesday, November 13th. They issued a "buy" rating and a $842.00 target price on the stock. Stifel Nicolaus cut shares of Parker-Hannifin from a "buy" rating to a "hold" rating and set a $691.00 price objective on the stock. in a report on Monday. Evercore ISI boosted their price target on 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 raised their price objective on Parker-Hannifin from $640.00 to $710.00 and gave the company an "overweight" rating in a research report on Monday, October 7th. Finally, StockNews.com upgraded Parker-Hannifin from a "hold" rating to a "buy" rating in a research note on Saturday, October 12th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $688.07.

Parker-Hannifin Stock Performance

Shares of PH traded up $0.67 during mid-day trading on Wednesday, hitting $690.43. 377,486 shares of the company traded hands, compared to its average volume of 642,132. The stock has a market cap of $88.87 billion, a price-to-earnings ratio of 31.18, a P/E/G ratio of 2.82 and a beta of 1.43. The stock has a 50-day moving average price of $642.71 and a two-hundred day moving average price of $578.38. Parker-Hannifin Co. has a 1 year low of $426.49 and a 1 year high of $711.60. 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 (NYSE:PH - Get Free Report) last issued its quarterly earnings data 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 company had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.90 billion. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. Parker-Hannifin's revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $5.96 earnings per share. Equities analysts anticipate that Parker-Hannifin Co. will post 26.77 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed 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.