Thrivent Financial for Lutherans Raises Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Thrivent Financial for Lutherans lifted its position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 4.8% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 39,887 shares of the industrial products company's stock after buying an additional 1,825 shares during the quarter. Thrivent Financial for Lutherans' holdings in Parker-Hannifin were worth $25,201,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Addison Advisors LLC purchased a new stake in Parker-Hannifin during the second quarter worth approximately $25,000. West Branch Capital LLC purchased a new position in Parker-Hannifin in the third quarter valued at about $25,000. Bangor Savings Bank boosted its position in shares of Parker-Hannifin by 238.5% in the third quarter. Bangor Savings Bank now owns 44 shares of the industrial products company's stock worth $28,000 after buying an additional 31 shares during the period. Fortitude Family Office LLC boosted its holdings in Parker-Hannifin by 346.7% in the 2nd quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company's stock worth $34,000 after acquiring an additional 52 shares during the period. Finally, Crewe Advisors LLC acquired a new stake in Parker-Hannifin during the 1st quarter valued at $38,000. Hedge funds and other institutional investors own 82.44% of the company's stock.

Analyst Ratings Changes

PH has been the subject of a number of research analyst reports. Raymond James boosted their price target on Parker-Hannifin from $610.00 to $650.00 and gave the company an "outperform" rating in a report on Wednesday, September 4th. KeyCorp raised their target price on Parker-Hannifin from $640.00 to $725.00 and gave the company an "overweight" rating in a research report on Monday, October 14th. Mizuho increased their price objective on shares of Parker-Hannifin from $665.00 to $715.00 and gave the company an "outperform" rating in a report on Thursday, October 17th. StockNews.com upgraded shares of Parker-Hannifin from a "hold" rating to a "buy" rating in a report on Saturday, October 12th. Finally, UBS Group started coverage on Parker-Hannifin in a research report on Wednesday, November 13th. They issued a "buy" rating and a $842.00 target price for the company. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $688.07.

Parker-Hannifin Stock Performance

PH stock traded up $0.47 during trading hours on Wednesday, hitting $690.23. 276,215 shares of the stock were exchanged, compared to its average volume of 641,648. The firm has a market capitalization of $88.85 billion, a P/E ratio of 31.15, a P/E/G ratio of 2.82 and a beta of 1.43. Parker-Hannifin Co. has a 12 month low of $426.49 and a 12 month high of $711.60. 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 company has a 50-day simple moving average of $640.59 and a two-hundred day simple moving average of $577.60.

Parker-Hannifin (NYSE:PH - Get Free Report) last released 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. The firm had revenue of $4.90 billion during 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 was up 1.2% compared to the same quarter last year. During the same quarter last year, the business earned $5.96 EPS. On average, analysts forecast that Parker-Hannifin Co. will post 26.77 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

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

Insider Activity at Parker-Hannifin

In other news, VP Joseph R. Leonti sold 5,877 shares of the company's stock in a transaction on Friday, November 1st. The stock was sold at an average price of $631.04, for a total value of $3,708,622.08. Following the completion of the sale, 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 position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Jennifer A. Parmentier sold 4,906 shares of the company's stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $704.69, for a total value of $3,457,209.14. Following the completion of the transaction, the chief executive officer now directly owns 33,607 shares of the company's stock, valued at approximately $23,682,516.83. This trade represents a 12.74 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,927 shares of company stock valued at $12,807,811. Corporate insiders own 0.39% of the company's stock.

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.