Parker-Hannifin Co. (NYSE:PH) is AMF Tjanstepension AB’s 7th Largest Position

AMF Tjanstepension AB lessened its stake in Parker-Hannifin Co. (NYSE:PH) by 13.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 659,405 shares of the industrial products company’s stock after selling 98,857 shares during the quarter. Parker-Hannifin accounts for about 3.0% of AMF Tjanstepension AB’s holdings, making the stock its 7th biggest position. AMF Tjanstepension AB owned approximately 0.51% of Parker-Hannifin worth $416,680,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of PH. Addison Advisors LLC bought a new position in Parker-Hannifin during the second quarter valued at about $25,000. Harbor Investment Advisory LLC grew its holdings in Parker-Hannifin by 60.6% during the first quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 20 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new position in shares of Parker-Hannifin during the fourth quarter valued at about $30,000. Northwest Investment Counselors LLC acquired a new stake in Parker-Hannifin during the first quarter worth about $31,000. Finally, Fortitude Family Office LLC increased its stake in Parker-Hannifin by 346.7% during the second quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 52 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Activity

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

Analysts Set New Price Targets

PH has been the topic of a number of research reports. StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Wednesday. Stifel Nicolaus boosted their price target on shares of Parker-Hannifin from $633.00 to $691.00 and gave the company a “buy” rating in a report on Wednesday. TD Cowen upped their target price on shares of Parker-Hannifin from $500.00 to $520.00 and gave the company a “hold” rating in a research note on Wednesday, September 11th. Robert W. Baird lifted their price objective on Parker-Hannifin from $622.00 to $654.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Finally, Barclays increased their target price on Parker-Hannifin from $650.00 to $703.00 and gave the stock an “overweight” rating in a report on Wednesday. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Parker-Hannifin presently has an average rating of “Moderate Buy” and a consensus price target of $636.64.

Parker-Hannifin Stock Performance

Shares of NYSE:PH opened at $627.50 on Thursday. The business has a fifty day moving average of $583.78 and a 200-day moving average of $552.89. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.55 and a current ratio of 0.93. Parker-Hannifin Co. has a twelve month low of $362.49 and a twelve month high of $639.87. The firm has a market cap of $80.74 billion, a PE ratio of 29.57, a price-to-earnings-growth ratio of 2.57 and a beta of 1.43.

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

Parker-Hannifin Dividend Announcement

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