Stifel Financial Corp Has $167.27 Million Stake in Parker-Hannifin Co. (NYSE:PH)

Stifel Financial Corp grew its position in Parker-Hannifin Co. (NYSE:PH - Free Report) by 9.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 264,722 shares of the industrial products company's stock after acquiring an additional 22,572 shares during the quarter. Stifel Financial Corp owned 0.21% of Parker-Hannifin worth $167,267,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of PH. Wilkinson Global Asset Management LLC raised its holdings in shares of Parker-Hannifin by 59.1% in the 3rd quarter. Wilkinson Global Asset Management LLC now owns 39,093 shares of the industrial products company's stock worth $24,700,000 after buying an additional 14,526 shares in the last quarter. Banco Santander S.A. raised its holdings in shares of Parker-Hannifin by 11.9% in the 3rd quarter. Banco Santander S.A. now owns 14,478 shares of the industrial products company's stock worth $9,147,000 after buying an additional 1,544 shares in the last quarter. Ritholtz Wealth Management raised its holdings in shares of Parker-Hannifin by 88.4% in the 3rd quarter. Ritholtz Wealth Management now owns 1,473 shares of the industrial products company's stock worth $931,000 after buying an additional 691 shares in the last quarter. Deltec Asset Management LLC acquired a new position in shares of Parker-Hannifin in the 2nd quarter worth approximately $506,000. Finally, FMR LLC raised its holdings in shares of Parker-Hannifin by 7.1% in 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 in the last quarter. Institutional investors own 82.44% of the company's stock.

Insiders Place Their Bets

In other Parker-Hannifin news, CEO Jennifer A. Parmentier sold 4,906 shares of Parker-Hannifin stock in a transaction dated Wednesday, November 6th. The stock was 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 directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Andrew D. Ross sold 4,864 shares of Parker-Hannifin stock in a transaction dated Wednesday, November 6th. The shares were 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 directly owns 13,120 shares in the company, valued at $9,263,244.80. This represents a 27.05 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 18,077 shares of company stock worth $12,303,829. Corporate insiders own 0.39% of the company's stock.

Analyst Ratings Changes

A number of brokerages have recently issued reports on PH. TD Cowen increased their target price on Parker-Hannifin from $520.00 to $575.00 and gave the stock a "hold" rating in a report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft raised their price target on Parker-Hannifin from $595.00 to $645.00 and gave the company a "buy" rating in a report on Friday, August 9th. Stifel Nicolaus cut Parker-Hannifin from a "buy" rating to a "hold" rating and set a $691.00 price target for the company. in a report on Monday, November 18th. StockNews.com raised Parker-Hannifin from a "hold" rating to a "buy" rating in a report on Saturday, October 12th. Finally, Argus raised their price target on Parker-Hannifin from $650.00 to $710.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of $704.88.

Parker-Hannifin Trading Up 0.2 %

Shares of NYSE:PH traded up $1.36 during midday trading on Friday, hitting $696.07. The company had a trading volume of 371,921 shares, compared to its average volume of 634,709. Parker-Hannifin Co. has a 12 month low of $431.98 and a 12 month high of $712.42. 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 has a market cap of $89.60 billion, a price-to-earnings ratio of 31.44, a PEG ratio of 2.83 and a beta of 1.43. The firm has a fifty day simple moving average of $662.19 and a 200 day simple moving average of $589.65.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.14 by $0.06. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The business had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same period last year, the company earned $5.96 EPS. The firm's revenue was up 1.2% on a year-over-year basis. On average, analysts predict that Parker-Hannifin Co. will post 26.77 EPS for the current year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be given a $1.63 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $6.52 annualized dividend and a dividend yield of 0.94%. Parker-Hannifin's dividend payout ratio is currently 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.