The Manufacturers Life Insurance Company Sells 5,687 Shares of Parker-Hannifin Co. (NYSE:PH)

The Manufacturers Life Insurance Company lessened its holdings in Parker-Hannifin Co. (NYSE:PH - Free Report) by 1.5% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 375,315 shares of the industrial products company's stock after selling 5,687 shares during the quarter. The Manufacturers Life Insurance Company owned 0.29% of Parker-Hannifin worth $237,132,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Associated Banc Corp increased its position in shares of Parker-Hannifin by 3.5% during the 3rd quarter. Associated Banc Corp now owns 1,618 shares of the industrial products company's stock worth $1,022,000 after purchasing an additional 54 shares in the last quarter. Private Trust Co. NA increased its position in shares of Parker-Hannifin by 1.4% during the 3rd quarter. Private Trust Co. NA now owns 3,216 shares of the industrial products company's stock worth $2,032,000 after purchasing an additional 45 shares in the last quarter. Loomis Sayles & Co. L P increased its position in shares of Parker-Hannifin by 12.4% during the 3rd quarter. Loomis Sayles & Co. L P now owns 556,178 shares of the industrial products company's stock worth $351,404,000 after purchasing an additional 61,289 shares in the last quarter. DRW Securities LLC acquired a new stake in shares of Parker-Hannifin during the 3rd quarter worth about $1,037,000. Finally, Fisher Asset Management LLC increased its position in shares of Parker-Hannifin by 3.9% during the 3rd quarter. Fisher Asset Management LLC now owns 431,801 shares of the industrial products company's stock worth $272,821,000 after purchasing an additional 16,063 shares in the last quarter. Institutional investors own 82.44% of the company's stock.

Parker-Hannifin Trading Up 0.4 %

Shares of NYSE PH traded up $2.50 during mid-day trading on Tuesday, hitting $706.92. The company's stock had a trading volume of 361,007 shares, compared to its average volume of 642,770. The stock has a market cap of $90.99 billion, a price-to-earnings ratio of 31.93, a price-to-earnings-growth ratio of 2.85 and a beta of 1.43. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57. Parker-Hannifin Co. has a one year low of $426.49 and a one year high of $712.42. The company's fifty day simple moving average is $651.50 and its 200-day simple moving average is $582.76.

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. On average, sell-side analysts anticipate that Parker-Hannifin Co. will post 26.77 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 8th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.92%. The ex-dividend date is Friday, November 8th. Parker-Hannifin's payout ratio is 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 Thomas C. Gentile sold 2,430 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the completion of the transaction, the vice president now directly owns 5,465 shares in the company, valued at approximately $3,831,839.40. The trade was a 30.78 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 18,077 shares of company stock valued at $12,303,829 in the last 90 days. 0.39% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on PH shares. 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. Stifel Nicolaus cut shares of Parker-Hannifin from a "buy" rating to a "hold" rating and set a $691.00 target price for the company. in a research report on Monday, November 18th. Mizuho increased their target price on shares of Parker-Hannifin from $665.00 to $715.00 and gave the stock an "outperform" rating in a research report on Thursday, October 17th. Raymond James raised their price objective on shares of Parker-Hannifin from $610.00 to $650.00 and gave the company an "outperform" rating in a research report on Wednesday, September 4th. Finally, Evercore ISI raised their price objective on shares of Parker-Hannifin from $620.00 to $656.00 and gave the company an "outperform" rating in a research report on Monday, August 19th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Parker-Hannifin has a consensus rating of "Moderate Buy" and an average price target of $691.40.

Parker-Hannifin 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.