Parker-Hannifin Co. (NYSE:PH) Shares Sold by Farmers Trust Co.

Farmers Trust Co. trimmed its holdings in Parker-Hannifin Co. (NYSE:PH) by 0.8% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 5,398 shares of the industrial products company’s stock after selling 46 shares during the period. Farmers Trust Co.’s holdings in Parker-Hannifin were worth $3,411,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Rafferty Asset Management LLC increased its stake in shares of Parker-Hannifin by 5.6% in the 4th quarter. Rafferty Asset Management LLC now owns 10,774 shares of the industrial products company’s stock worth $4,964,000 after acquiring an additional 572 shares during the last quarter. Tower Research Capital LLC TRC raised its stake in Parker-Hannifin by 136.3% during the fourth quarter. Tower Research Capital LLC TRC now owns 17,291 shares of the industrial products company’s stock worth $7,966,000 after purchasing an additional 9,973 shares during the period. Oppenheimer & Co. Inc. boosted its holdings in Parker-Hannifin by 12.8% in the 4th quarter. Oppenheimer & Co. Inc. now owns 8,265 shares of the industrial products company’s stock valued at $3,808,000 after purchasing an additional 938 shares during the last quarter. Cetera Advisor Networks LLC grew its stake in shares of Parker-Hannifin by 7.4% in the 4th quarter. Cetera Advisor Networks LLC now owns 10,863 shares of the industrial products company’s stock valued at $5,005,000 after buying an additional 744 shares during the period. Finally, 1832 Asset Management L.P. increased its holdings in shares of Parker-Hannifin by 80.0% during the 4th quarter. 1832 Asset Management L.P. now owns 76,006 shares of the industrial products company’s stock worth $35,016,000 after buying an additional 33,770 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on PH. Barclays upped their price objective on Parker-Hannifin from $650.00 to $703.00 and gave the company an “overweight” rating in a report on Wednesday. StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Wednesday. Stifel Nicolaus raised their price objective on Parker-Hannifin from $633.00 to $691.00 and gave the stock a “buy” rating in a research report on Wednesday. Evercore ISI upped their target price 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. Finally, Robert W. Baird lifted their price target on shares of Parker-Hannifin from $622.00 to $654.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $636.64.

Parker-Hannifin Trading Down 0.2 %

NYSE:PH opened at $626.31 on Friday. Parker-Hannifin Co. has a 12-month low of $362.49 and a 12-month high of $639.87. The firm has a market cap of $80.59 billion, a PE ratio of 29.52, a price-to-earnings-growth ratio of 2.57 and a beta of 1.43. The company has a current ratio of 0.93, a quick ratio of 0.55 and a debt-to-equity ratio of 0.59. The stock has a fifty day moving average price of $585.40 and a 200 day moving average price of $553.40.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data 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 business had revenue of $5.19 billion during the quarter, compared to analysts’ expectations of $5.08 billion. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter last year, the business posted $6.08 EPS. Sell-side analysts anticipate that Parker-Hannifin Co. will post 26.63 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

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

Insider Activity at Parker-Hannifin

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

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.