354 Shares in Parker-Hannifin Co. (NYSE:PH) Bought by Empower Advisory Group LLC

Empower Advisory Group LLC purchased a new stake in Parker-Hannifin Co. (NYSE:PH) during the 3rd quarter, Holdings Channel.com reports. The firm purchased 354 shares of the industrial products company’s stock, valued at approximately $224,000.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. grew its position in Parker-Hannifin by 1.0% in the first quarter. Vanguard Group Inc. now owns 10,566,391 shares of the industrial products company’s stock valued at $5,872,694,000 after purchasing an additional 105,475 shares in the last quarter. Boston Partners lifted its position in Parker-Hannifin by 4.1% during the 1st quarter. Boston Partners now owns 1,111,720 shares of the industrial products company’s stock worth $617,878,000 after buying an additional 43,535 shares in the last quarter. Legal & General Group Plc boosted its stake in shares of Parker-Hannifin by 1.3% during the 2nd quarter. Legal & General Group Plc now owns 985,280 shares of the industrial products company’s stock worth $498,366,000 after buying an additional 12,615 shares during the last quarter. AMF Tjanstepension AB grew its holdings in shares of Parker-Hannifin by 23.0% in the 2nd quarter. AMF Tjanstepension AB now owns 758,262 shares of the industrial products company’s stock valued at $383,594,000 after acquiring an additional 141,862 shares in the last quarter. Finally, Bank of Montreal Can raised its holdings in Parker-Hannifin by 11.6% during the second quarter. Bank of Montreal Can now owns 735,755 shares of the industrial products company’s stock worth $378,572,000 after acquiring an additional 76,629 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the company. KeyCorp raised their price target on Parker-Hannifin from $640.00 to $725.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, October 12th. Barclays boosted their target price on Parker-Hannifin from $650.00 to $703.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Stifel Nicolaus lifted their price objective on shares of Parker-Hannifin from $633.00 to $691.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Finally, Raymond James raised 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. Two 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 has an average rating of “Moderate Buy” and a consensus target price of $688.07.

Parker-Hannifin Stock Up 0.2 %

PH stock opened at $698.91 on Friday. The stock has a market capitalization of $89.96 billion, a P/E ratio of 31.57, a price-to-earnings-growth ratio of 2.85 and a beta of 1.43. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. The firm has a 50-day moving average price of $633.64 and a 200-day moving average price of $573.94. Parker-Hannifin Co. has a 12 month low of $425.20 and a 12 month high of $711.60.

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

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $6.52 annualized dividend and a dividend yield of 0.93%. Parker-Hannifin’s payout ratio is 29.45%.

Insider Buying and Selling

In other news, COO Andrew D. Ross sold 4,864 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total transaction of $3,434,178.56. Following the transaction, the chief operating officer now owns 13,120 shares of the company’s stock, valued at $9,263,244.80. This represents a 27.05 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Joseph R. Leonti sold 5,877 shares of the company’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $631.04, for a total value of $3,708,622.08. Following the transaction, the vice president now directly owns 15,350 shares in the company, valued at approximately $9,686,464. This trade represents a 27.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,927 shares of company stock valued at $12,807,811 over the last ninety days. 0.39% of the stock is owned by company insiders.

Parker-Hannifin Company 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.