Parker-Hannifin Co. (NYSE:PH) Shares Sold by First Hawaiian Bank

First Hawaiian Bank cut its stake in Parker-Hannifin Co. (NYSE:PH) by 8.8% during the 4th quarter, HoldingsChannel reports. The fund owned 4,179 shares of the industrial products company’s stock after selling 404 shares during the period. First Hawaiian Bank’s holdings in Parker-Hannifin were worth $2,658,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Franklin Resources Inc. raised its position in shares of Parker-Hannifin by 39.2% during the 3rd quarter. Franklin Resources Inc. now owns 645,516 shares of the industrial products company’s stock valued at $415,409,000 after acquiring an additional 181,859 shares in the last quarter. Wilkinson Global Asset Management LLC increased its stake in Parker-Hannifin by 59.1% during the third 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. Banco Santander S.A. raised its holdings in shares of Parker-Hannifin by 11.9% during the third quarter. Banco Santander S.A. now owns 14,478 shares of the industrial products company’s stock worth $9,147,000 after purchasing an additional 1,544 shares during the period. Ritholtz Wealth Management lifted its position in shares of Parker-Hannifin by 88.4% in the 3rd quarter. Ritholtz Wealth Management now owns 1,473 shares of the industrial products company’s stock worth $931,000 after buying an additional 691 shares during the last quarter. Finally, FMR LLC boosted its holdings in shares of Parker-Hannifin by 7.1% in the 3rd quarter. FMR LLC now owns 4,116,257 shares of the industrial products company’s stock valued at $2,600,733,000 after buying an additional 272,531 shares during the period. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Stock Up 0.9 %

Parker-Hannifin stock opened at $640.76 on Thursday. Parker-Hannifin Co. has a 52 week low of $449.89 and a 52 week high of $712.42. The stock has a market cap of $82.48 billion, a price-to-earnings ratio of 28.94, a PEG ratio of 2.71 and a beta of 1.45. The company’s 50-day moving average price is $673.26 and its two-hundred day moving average price is $612.30. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, beating analysts’ consensus estimates of $6.14 by $0.06. The business had revenue of $4.90 billion for 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 business’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter last year, the business earned $5.96 earnings per share. On average, analysts expect that Parker-Hannifin Co. will post 26.75 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Stockholders of record on Friday, November 8th were issued a $1.63 dividend. The ex-dividend date of this dividend was Friday, November 8th. This represents a $6.52 annualized dividend and a dividend yield of 1.02%. Parker-Hannifin’s dividend payout ratio (DPR) is 29.45%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on PH shares. Jefferies Financial Group increased their price objective on shares of Parker-Hannifin from $765.00 to $810.00 and gave the stock a “buy” rating in a research note on Friday, December 6th. Robert W. Baird increased their price target on Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. TD Cowen boosted their price objective on Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. Wells Fargo & Company dropped their target price on Parker-Hannifin from $770.00 to $710.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, UBS Group initiated coverage on Parker-Hannifin in a research note on Wednesday, November 13th. They issued a “buy” rating and a $842.00 target price on the stock. Two analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $722.94.

Insider Buying and Selling

In other news, VP Thomas C. Gentile sold 2,430 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the completion of the sale, the vice president now directly owns 5,465 shares of the company’s stock, valued at $3,831,839.40. This trade represents a 30.78 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Andrew D. Ross sold 4,864 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $706.04, for a total value of $3,434,178.56. Following the sale, the chief operating officer now directly owns 13,120 shares in the company, valued at $9,263,244.80. This trade represents a 27.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,077 shares of company stock valued at $12,303,829 over the last three months. Company insiders own 0.39% of the company’s stock.

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.