Toronto Dominion Bank Raises Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Toronto Dominion Bank raised its position in Parker-Hannifin Co. (NYSE:PH - Free Report) by 1.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 64,278 shares of the industrial products company's stock after buying an additional 848 shares during the quarter. Toronto Dominion Bank's holdings in Parker-Hannifin were worth $40,612,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Addison Advisors LLC acquired a new stake in Parker-Hannifin in the second quarter valued at about $25,000. West Branch Capital LLC acquired a new stake in shares of Parker-Hannifin in the 3rd quarter valued at approximately $25,000. Bangor Savings Bank grew its holdings in shares of Parker-Hannifin by 238.5% during the 3rd 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 during the last quarter. Prestige Wealth Management Group LLC increased its position in Parker-Hannifin by 83.3% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company's stock worth $35,000 after purchasing an additional 25 shares in the last quarter. Finally, Northwest Investment Counselors LLC bought a new position in Parker-Hannifin in the 3rd quarter valued at approximately $39,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

PH has been the subject of several research analyst reports. Wolfe Research upgraded shares of Parker-Hannifin from a "peer perform" rating to an "outperform" rating and set a $786.00 price target for the company in a report on Thursday. Barclays increased their target price on Parker-Hannifin from $703.00 to $800.00 and gave the company an "overweight" rating in a research report on Thursday, December 5th. Raymond James boosted their price target on Parker-Hannifin from $610.00 to $650.00 and gave the stock an "outperform" rating in a report on Wednesday, September 4th. Robert W. Baird raised their price objective on shares of Parker-Hannifin from $695.00 to $710.00 and gave the company an "outperform" rating in a report on Friday, November 1st. Finally, Stifel Nicolaus lowered shares of Parker-Hannifin from a "buy" rating to a "hold" rating and set a $691.00 target price on the stock. in a report on Monday, November 18th. Two analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. Based on data from MarketBeat.com, Parker-Hannifin currently has a consensus rating of "Moderate Buy" and an average target price of $709.65.

Insiders Place Their Bets

In other news, VP Thomas C. Gentile sold 2,430 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total value of $1,703,818.80. Following the sale, the vice president now directly owns 5,465 shares of the company's stock, valued at $3,831,839.40. The trade was a 30.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Jennifer A. Parmentier sold 4,906 shares of the firm's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $704.69, for a total value of $3,457,209.14. Following 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. Over the last 90 days, insiders sold 18,077 shares of company stock worth $12,303,829. 0.39% of the stock is owned by corporate insiders.

Parker-Hannifin Trading Down 0.6 %

Shares of Parker-Hannifin stock traded down $3.82 on Thursday, hitting $682.57. The stock had a trading volume of 527,399 shares, compared to its average volume of 634,724. The stock's 50-day simple moving average is $666.67 and its two-hundred day simple moving average is $594.11. Parker-Hannifin Co. has a one year low of $435.77 and a one year high of $712.42. 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 stock has a market cap of $87.86 billion, a price-to-earnings ratio of 30.98, a PEG ratio of 2.81 and a beta of 1.43.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, topping analysts' consensus estimates of $6.14 by $0.06. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The firm 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 business's quarterly revenue was up 1.2% compared to the same quarter last year. As a group, sell-side analysts predict that Parker-Hannifin Co. will post 26.77 EPS for the current year.

Parker-Hannifin Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 8th were paid a $1.63 dividend. The ex-dividend date was Friday, November 8th. This represents a $6.52 annualized dividend and a yield of 0.96%. Parker-Hannifin's payout ratio is 29.45%.

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.