Parker-Hannifin Co. (NYSE:PH) Stock Position Lowered by Bank of Montreal Can

Bank of Montreal Can trimmed its position in Parker-Hannifin Co. (NYSE:PH) by 1.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 721,717 shares of the industrial products company’s stock after selling 14,038 shares during the quarter. Bank of Montreal Can’s holdings in Parker-Hannifin were worth $456,681,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of PH. Wilkinson Global Asset Management LLC boosted its stake in shares of 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 buying an additional 14,526 shares during the period. Swedbank AB acquired a new stake in Parker-Hannifin in the first quarter valued at approximately $20,140,000. Banco Santander S.A. increased its stake in shares of Parker-Hannifin by 11.9% during the 3rd 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 last quarter. Ritholtz Wealth Management boosted its holdings in Parker-Hannifin by 88.4% in the third quarter. Ritholtz Wealth Management now owns 1,473 shares of the industrial products company’s stock worth $931,000 after purchasing an additional 691 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC boosted its position in Parker-Hannifin by 12.8% during the first quarter. Silvercrest Asset Management Group LLC now owns 12,812 shares of the industrial products company’s stock worth $7,121,000 after purchasing an additional 1,453 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Insider Transactions at Parker-Hannifin

In related news, VP Thomas C. Gentile sold 2,430 shares of the company’s stock in a transaction dated 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 sale, the vice president now owns 5,465 shares in the company, valued at $3,831,839.40. This represents a 30.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Andrew D. Ross sold 4,864 shares of the company’s stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 13,120 shares in the company, valued at approximately $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. Over the last three months, insiders have sold 18,077 shares of company stock worth $12,303,829. Insiders own 0.39% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of NYSE:PH traded up $0.93 on Monday, reaching $707.80. 63,451 shares of the company’s stock were exchanged, compared to its average volume of 639,309. 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 Co. has a twelve month low of $426.49 and a twelve month high of $712.42. The company has a fifty day moving average of $647.32 and a 200-day moving average of $580.73. The company has a market capitalization of $91.11 billion, a price-to-earnings ratio of 31.93, a PEG ratio of 2.85 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. The business had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.90 billion. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period last year, the firm posted $5.96 earnings per share. On average, research analysts predict that Parker-Hannifin Co. will post 26.77 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 8th will be given a $1.63 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $6.52 annualized dividend and a yield of 0.92%. Parker-Hannifin’s dividend payout ratio is presently 29.45%.

Analyst Ratings Changes

PH has been the subject of a number of recent analyst reports. KeyCorp upped their price target on shares of Parker-Hannifin from $725.00 to $775.00 and gave the company an “overweight” rating in a report on Thursday. TD Cowen upped their target price on shares of Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft increased their target price on Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Mizuho upped their price target on Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, Evercore ISI lifted their price objective on Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $691.40.

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.