OneDigital Investment Advisors LLC Cuts Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

OneDigital Investment Advisors LLC lessened its holdings in Parker-Hannifin Co. (NYSE:PH) by 32.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 8,100 shares of the industrial products company’s stock after selling 3,974 shares during the quarter. OneDigital Investment Advisors LLC’s holdings in Parker-Hannifin were worth $5,117,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Wilkinson Global Asset Management LLC raised its holdings in Parker-Hannifin by 59.1% in the third quarter. Wilkinson Global Asset Management LLC now owns 39,093 shares of the industrial products company’s stock worth $24,700,000 after purchasing an additional 14,526 shares in the last quarter. UniSuper Management Pty Ltd lifted its position in Parker-Hannifin by 198.7% during the first quarter. UniSuper Management Pty Ltd now owns 3,441 shares of the industrial products company’s stock valued at $1,912,000 after acquiring an additional 2,289 shares during the last quarter. Canada Pension Plan Investment Board boosted its stake in Parker-Hannifin by 19.9% in 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 acquiring an additional 11,510 shares in the last quarter. Public Employees Retirement System of Ohio grew its holdings in Parker-Hannifin by 1.8% in the first quarter. Public Employees Retirement System of Ohio now owns 54,535 shares of the industrial products company’s stock worth $30,310,000 after purchasing an additional 982 shares during the last quarter. Finally, Swedbank AB acquired a new position in shares of Parker-Hannifin during the first quarter worth $20,140,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Insider Activity

In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of the 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 in the company, valued at approximately $1,986,282. This represents a 20.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Andrew D. Ross sold 4,864 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total value of $3,434,178.56. Following the completion of the sale, the chief operating officer now owns 13,120 shares of the company’s stock, 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 sold a total of 18,927 shares of company stock valued at $12,807,811 in the last three months. 0.39% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PH. KeyCorp raised their price objective on Parker-Hannifin from $640.00 to $725.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. UBS Group initiated coverage on Parker-Hannifin in a research note on Wednesday. They set a “buy” rating and a $842.00 price target on the stock. Argus increased their price objective on shares of Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Raymond James lifted their target price on shares of Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. Finally, Barclays upped their price target on shares of Parker-Hannifin from $650.00 to $703.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Parker-Hannifin currently has an average rating of “Moderate Buy” and a consensus price target of $688.07.

Parker-Hannifin Trading Up 0.2 %

NYSE PH opened at $698.91 on Friday. Parker-Hannifin Co. has a 1 year low of $425.20 and a 1 year high of $711.60. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57. The company has a market capitalization of $89.96 billion, a PE ratio of 31.57, a P/E/G ratio of 2.85 and a beta of 1.43. The company has a fifty day moving average of $633.64 and a 200 day moving average of $573.94.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.14 by $0.06. The business had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.90 billion. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted $5.96 EPS. Research analysts forecast that Parker-Hannifin Co. will post 26.77 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.93%. Parker-Hannifin’s payout ratio is 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.