Charles Schwab Investment Management Inc. Increases Position in Parker-Hannifin Co. (NYSE:PH)

Charles Schwab Investment Management Inc. grew its position in Parker-Hannifin Co. (NYSE:PH) by 3.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,593,970 shares of the industrial products company’s stock after purchasing an additional 59,432 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Parker-Hannifin were worth $1,007,102,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Acadian Asset Management LLC lifted its position in Parker-Hannifin by 458.1% during the first quarter. Acadian Asset Management LLC now owns 3,354 shares of the industrial products company’s stock valued at $1,862,000 after purchasing an additional 2,753 shares during the period. Edgestream Partners L.P. boosted its stake in shares of Parker-Hannifin by 40.9% in the first quarter. Edgestream Partners L.P. now owns 981 shares of the industrial products company’s stock worth $545,000 after acquiring an additional 285 shares during the last quarter. Clearbridge Investments LLC lifted its holdings in Parker-Hannifin by 32.4% in the 1st quarter. Clearbridge Investments LLC now owns 2,650 shares of the industrial products company’s stock valued at $1,473,000 after purchasing an additional 649 shares in the last quarter. Bessemer Group Inc. grew its holdings in shares of Parker-Hannifin by 162.6% during the first quarter. Bessemer Group Inc. now owns 10,109 shares of the industrial products company’s stock worth $5,617,000 after buying an additional 6,260 shares in the last quarter. Finally, Crewe Advisors LLC purchased a new position in shares of Parker-Hannifin in the first quarter worth about $38,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

PH has been the subject of several research reports. Robert W. Baird upped their price objective on shares of Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft increased their price target on Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a report on Friday, August 9th. Stifel Nicolaus lowered Parker-Hannifin from a “buy” rating to a “hold” rating and set a $691.00 price objective on the stock. in a research note on Monday. UBS Group assumed coverage on shares of Parker-Hannifin in a research report on Wednesday, November 13th. They set a “buy” rating and a $842.00 price target on the stock. Finally, Wells Fargo & Company lifted their price target on shares of Parker-Hannifin from $640.00 to $710.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and an average target price of $691.40.

Parker-Hannifin Trading Up 0.4 %

NYSE PH opened at $693.19 on Thursday. Parker-Hannifin Co. has a 52-week low of $426.49 and a 52-week high of $711.60. The firm has a 50-day moving average price of $642.71 and a 200 day moving average price of $578.38. The stock has a market capitalization of $89.23 billion, a P/E ratio of 31.18, a P/E/G ratio of 2.78 and a beta of 1.43. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52.

Parker-Hannifin (NYSE:PH) last posted its quarterly 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 business had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same period last year, the firm earned $5.96 EPS. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. Equities research analysts expect that Parker-Hannifin Co. will post 26.77 EPS for the current year.

Parker-Hannifin Dividend Announcement

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 issued a $1.63 dividend. The ex-dividend date is Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.94%. Parker-Hannifin’s dividend payout ratio is presently 29.45%.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of the business’s stock in a transaction 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 sale, the vice president now directly owns 3,350 shares in the company, valued at approximately $1,986,282. The trade was a 20.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Joseph R. Leonti sold 5,877 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $631.04, for a total value of $3,708,622.08. Following the completion of the transaction, the vice president now owns 15,350 shares of the company’s stock, valued at approximately $9,686,464. This represents a 27.69 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,927 shares of company stock worth $12,807,811 over the last 90 days. Company insiders own 0.39% of the company’s stock.

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.