M&R Capital Management Inc. Has $302,000 Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

M&R Capital Management Inc. lifted its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 5.3% during the third quarter, Holdings Channel reports. The fund owned 477 shares of the industrial products company’s stock after buying an additional 24 shares during the quarter. M&R Capital Management Inc.’s holdings in Parker-Hannifin were worth $302,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of PH. TD Asset Management Inc raised its holdings in shares of Parker-Hannifin by 152.1% during the first quarter. TD Asset Management Inc now owns 132,231 shares of the industrial products company’s stock valued at $73,493,000 after purchasing an additional 79,774 shares during the period. Daiwa Securities Group Inc. raised its stake in Parker-Hannifin by 8.5% during the 1st quarter. Daiwa Securities Group Inc. now owns 22,960 shares of the industrial products company’s stock worth $12,761,000 after buying an additional 1,802 shares during the period. Quadrature Capital Ltd bought a new position in Parker-Hannifin in the fourth quarter worth approximately $4,068,000. Concurrent Investment Advisors LLC grew its stake in Parker-Hannifin by 261.4% in the first quarter. Concurrent Investment Advisors LLC now owns 2,515 shares of the industrial products company’s stock valued at $1,397,000 after acquiring an additional 1,819 shares during the period. Finally, Oppenheimer Asset Management Inc. increased its holdings in shares of Parker-Hannifin by 54.1% during the first quarter. Oppenheimer Asset Management Inc. now owns 17,165 shares of the industrial products company’s stock valued at $9,540,000 after acquiring an additional 6,029 shares in the last quarter. 82.44% of the stock is owned by institutional investors.

Insider Buying and Selling at Parker-Hannifin

In other news, VP Berend Bracht sold 850 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $592.92, for a total transaction of $503,982.00. Following the completion of the sale, the vice president now owns 3,350 shares in the company, valued at approximately $1,986,282. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $592.92, for a total transaction of $503,982.00. Following the completion of the transaction, the vice president now owns 3,350 shares in the company, valued at $1,986,282. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph Scaminace sold 1,751 shares of Parker-Hannifin stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the completion of the transaction, the director now owns 3,900 shares of the company’s stock, valued at $2,299,947. The disclosure for this sale can be found here. Corporate insiders own 1.03% of the company’s stock.

Analysts Set New Price Targets

PH has been the topic of a number of recent research reports. Stifel Nicolaus increased their target price on Parker-Hannifin from $633.00 to $691.00 and gave the stock a “buy” rating in a report on Wednesday. Wells Fargo & Company upped their price objective on shares of Parker-Hannifin from $600.00 to $640.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a report on Friday, August 9th. Robert W. Baird upped their target price on shares of Parker-Hannifin from $622.00 to $654.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Finally, Raymond James raised their price target 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. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $636.64.

Parker-Hannifin Stock Performance

PH stock opened at $627.50 on Thursday. The company has a quick ratio of 0.55, a current ratio of 0.93 and a debt-to-equity ratio of 0.59. The firm has a market cap of $80.74 billion, a PE ratio of 29.57, a P/E/G ratio of 2.57 and a beta of 1.43. The business has a 50 day moving average of $583.78 and a 200-day moving average of $552.89. Parker-Hannifin Co. has a 12-month low of $362.49 and a 12-month high of $639.87.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, August 8th. The industrial products company reported $6.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.22 by $0.55. The firm had revenue of $5.19 billion during the quarter, compared to analyst estimates of $5.08 billion. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. The business’s revenue was up 1.8% compared to the same quarter last year. During the same period last year, the firm posted $6.08 EPS. As a group, sell-side analysts expect that Parker-Hannifin Co. will post 26.63 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Wednesday, August 28th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.04%. The ex-dividend date was Wednesday, August 28th. Parker-Hannifin’s dividend payout ratio is 30.73%.

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.