Pathstone Holdings LLC Acquires 2,186 Shares of Parker-Hannifin Co. (NYSE:PH)

Pathstone Holdings LLC raised its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 13.4% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 18,551 shares of the industrial products company’s stock after purchasing an additional 2,186 shares during the period. Pathstone Holdings LLC’s holdings in Parker-Hannifin were worth $11,721,000 as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Wilkinson Global Asset Management LLC grew its position in Parker-Hannifin by 59.1% during the 3rd quarter. Wilkinson Global Asset Management LLC now owns 39,093 shares of the industrial products company’s stock valued at $24,700,000 after purchasing an additional 14,526 shares during the last quarter. Canada Pension Plan Investment Board grew its holdings in shares of Parker-Hannifin by 19.9% during the first quarter. Canada Pension Plan Investment Board now owns 69,270 shares of the industrial products company’s stock valued at $38,500,000 after buying an additional 11,510 shares during the last quarter. Public Employees Retirement System of Ohio grew its holdings in shares of Parker-Hannifin by 1.8% during the first quarter. Public Employees Retirement System of Ohio now owns 54,535 shares of the industrial products company’s stock valued at $30,310,000 after buying an additional 982 shares during the last quarter. Swedbank AB bought a new stake in shares of Parker-Hannifin during the first quarter valued at approximately $20,140,000. Finally, Ritholtz Wealth Management lifted its position in Parker-Hannifin by 88.4% in the 3rd quarter. Ritholtz Wealth Management now owns 1,473 shares of the industrial products company’s stock valued at $931,000 after acquiring an additional 691 shares in the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

PH has been the subject of a number of research analyst reports. TD Cowen lifted their target price on Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. Raymond James lifted their price objective on Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a research note on Friday, August 9th. StockNews.com upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Finally, Argus boosted their price objective on shares of Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and an average price target of $688.07.

Insider Activity

In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of the firm’s 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 completion of the transaction, the vice president now owns 3,350 shares in the company, valued at $1,986,282. This trade represents a 20.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Jennifer A. Parmentier sold 4,906 shares of the firm’s stock in a transaction 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,927 shares of company stock worth $12,807,811 over the last ninety days. Corporate insiders own 0.39% of the company’s stock.

Parker-Hannifin Stock Performance

NYSE:PH opened at $690.43 on Thursday. The stock has a 50-day simple moving average of $642.71 and a two-hundred day simple moving average of $578.38. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96. Parker-Hannifin Co. has a 52-week low of $426.49 and a 52-week high of $711.60. The firm has a market capitalization of $88.87 billion, a PE ratio of 31.18, a P/E/G ratio of 2.82 and a beta of 1.43.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, beating 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 company had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same period in the previous year, the company posted $5.96 EPS. The firm’s revenue was up 1.2% on a year-over-year basis. Analysts forecast that Parker-Hannifin Co. will post 26.77 EPS for the current year.

Parker-Hannifin Announces Dividend

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

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.