Parker-Hannifin Co. (NYSE:PH) Stock Position Lowered by Raub Brock Capital Management LP

Raub Brock Capital Management LP lowered its stake in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 2.0% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,492 shares of the industrial products company's stock after selling 668 shares during the quarter. Parker-Hannifin accounts for 4.5% of Raub Brock Capital Management LP's investment portfolio, making the stock its 4th largest holding. Raub Brock Capital Management LP's holdings in Parker-Hannifin were worth $21,302,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also bought and sold shares of the company. State Street Corp grew its holdings in shares of Parker-Hannifin by 13.8% in the third quarter. State Street Corp now owns 6,202,235 shares of the industrial products company's stock valued at $3,918,696,000 after acquiring an additional 753,143 shares in the last quarter. Wellington Management Group LLP boosted its position in Parker-Hannifin by 39.9% in the third quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company's stock worth $1,249,645,000 after purchasing an additional 564,365 shares during the last quarter. International Assets Investment Management LLC grew its stake in Parker-Hannifin by 64,081.5% in the 3rd quarter. International Assets Investment Management LLC now owns 381,880 shares of the industrial products company's stock valued at $241,279,000 after purchasing an additional 381,285 shares during the period. World Investment Advisors LLC purchased a new stake in shares of Parker-Hannifin during the 3rd quarter valued at $226,570,000. Finally, Mizuho Securities USA LLC raised its stake in shares of 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 purchasing an additional 353,393 shares during the period. 82.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PH. Barclays increased their price target on shares of Parker-Hannifin from $703.00 to $800.00 and gave the company an "overweight" rating in a research report on Thursday, December 5th. UBS Group started coverage on shares of Parker-Hannifin in a research report on Wednesday, November 13th. They set a "buy" rating and a $842.00 target price for the company. Robert W. Baird lifted their price target on shares of Parker-Hannifin from $695.00 to $710.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. TD Cowen increased their price objective on Parker-Hannifin from $520.00 to $575.00 and gave the company a "hold" rating in a report on Tuesday, November 12th. Finally, Jefferies Financial Group boosted their target price on Parker-Hannifin from $765.00 to $810.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $722.94.

Parker-Hannifin Price Performance

NYSE:PH traded up $12.09 during mid-day trading on Friday, hitting $670.75. 728,894 shares of the stock traded hands, compared to its average volume of 506,987. The business's 50-day moving average price is $670.95 and its 200 day moving average price is $619.29. 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 company has a market cap of $86.34 billion, a PE ratio of 30.30, a price-to-earnings-growth ratio of 2.54 and a beta of 1.45. Parker-Hannifin Co. has a 12-month low of $458.09 and a 12-month high of $712.42.

Parker-Hannifin (NYSE:PH - Get Free Report) last released 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. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The firm had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.90 billion. During the same period in the previous year, the business earned $5.96 EPS. The business's revenue for the quarter was up 1.2% on a year-over-year basis. On average, analysts expect that Parker-Hannifin Co. will post 26.75 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 8th were issued a $1.63 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $6.52 annualized dividend and a dividend yield of 0.97%. Parker-Hannifin's payout ratio is currently 29.45%.

Insider Activity

In other news, VP Thomas C. Gentile sold 2,430 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the transaction, the vice president now directly owns 5,465 shares in the company, valued at approximately $3,831,839.40. This represents a 30.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Andrew D. Ross sold 4,864 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $706.04, for a total value of $3,434,178.56. Following the completion of the sale, the chief operating officer now owns 13,120 shares of the company's stock, valued at $9,263,244.80. The trade was a 27.05 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,077 shares of company stock worth $12,303,829. 0.39% of the stock is currently owned by insiders.

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.