Parker-Hannifin Co. (NYSE:PH) Position Lowered by B & T Capital Management DBA Alpha Capital Management

B & T Capital Management DBA Alpha Capital Management trimmed its position in Parker-Hannifin Co. (NYSE:PH) by 1.4% in the third quarter, HoldingsChannel.com reports. The firm owned 8,680 shares of the industrial products company’s stock after selling 119 shares during the quarter. B & T Capital Management DBA Alpha Capital Management’s holdings in Parker-Hannifin were worth $5,484,000 at the end of the most recent reporting period.

Other hedge funds have also recently bought and sold shares of the company. Addison Advisors LLC bought a new stake in shares of Parker-Hannifin in the 2nd quarter valued at about $25,000. Bangor Savings Bank grew its stake in shares of Parker-Hannifin by 238.5% in the third quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 31 shares in the last quarter. Harbor Investment Advisory LLC increased its holdings in Parker-Hannifin by 60.6% in the 1st quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock valued at $29,000 after buying an additional 20 shares during the period. Newbridge Financial Services Group Inc. bought a new position in shares of Parker-Hannifin in the fourth quarter worth about $30,000. Finally, Northwest Investment Counselors LLC acquired a new position in Parker-Hannifin in the 1st quarter valued at approximately $31,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other 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 completion of the sale, the director now owns 3,900 shares in the company, valued at $2,299,947. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Joseph Scaminace sold 1,751 shares of Parker-Hannifin 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 owns 3,900 shares in the company, valued at approximately $2,299,947. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Berend Bracht sold 850 shares of Parker-Hannifin 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 transaction, the vice president now directly owns 3,350 shares in the company, valued at approximately $1,986,282. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.03% of the stock is owned by company insiders.

Parker-Hannifin Price Performance

Shares of Parker-Hannifin stock traded down $0.70 during trading on Thursday, hitting $632.09. The stock had a trading volume of 70,239 shares, compared to its average volume of 639,947. Parker-Hannifin Co. has a 12 month low of $362.49 and a 12 month high of $639.87. 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 firm has a market cap of $81.25 billion, a price-to-earnings ratio of 29.82, a P/E/G ratio of 2.55 and a beta of 1.43. The business’s 50-day moving average is $591.50 and its 200 day moving average is $555.75.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, August 8th. The industrial products company reported $6.77 earnings per share for the quarter, beating analysts’ consensus estimates of $6.22 by $0.55. The business had revenue of $5.19 billion during the quarter, compared to analyst estimates of $5.08 billion. Parker-Hannifin had a net margin of 14.27% and a return on equity of 29.08%. Parker-Hannifin’s revenue was up 1.8% compared to the same quarter last year. During the same period last year, the business earned $6.08 EPS. As a group, sell-side analysts anticipate that Parker-Hannifin Co. will post 26.64 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Wednesday, August 28th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $6.52 dividend on an annualized basis and a yield of 1.03%. Parker-Hannifin’s dividend payout ratio is currently 30.73%.

Analyst Ratings Changes

PH has been the topic of several analyst reports. Stifel Nicolaus lifted their target price on Parker-Hannifin from $633.00 to $691.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Robert W. Baird increased their price objective 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. Raymond James upped their target price on shares of Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. Barclays upped their price target on shares of Parker-Hannifin from $650.00 to $703.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Finally, Evercore ISI lifted their target price on shares of Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th. Two 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 company currently has a consensus rating of “Moderate Buy” and a consensus price target of $649.86.

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.