Fmr LLC Purchases 272,531 Shares of Parker-Hannifin Co. (NYSE:PH)

Fmr LLC boosted its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 7.1% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,116,257 shares of the industrial products company’s stock after acquiring an additional 272,531 shares during the quarter. Fmr LLC owned approximately 3.20% of Parker-Hannifin worth $2,600,733,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. West Branch Capital LLC acquired a new position in Parker-Hannifin during the third quarter worth $25,000. Bangor Savings Bank boosted its stake in shares of Parker-Hannifin by 238.5% during the 3rd quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 31 shares in the last quarter. Addison Advisors LLC acquired a new position in shares of Parker-Hannifin during the 2nd quarter valued at about $25,000. Northwest Investment Counselors LLC bought a new position in shares of Parker-Hannifin in the 3rd quarter valued at approximately $39,000. Finally, Fortitude Family Office LLC lifted its holdings in Parker-Hannifin by 346.7% in the 2nd quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 52 shares during the last quarter. 82.44% of the stock is owned by institutional investors.

Insider Activity

In other news, VP Joseph R. Leonti sold 5,877 shares of the business’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 of the company’s stock, valued at $9,686,464. The trade was a 27.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Thomas C. Gentile sold 2,430 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total value of $1,703,818.80. Following the sale, the vice president now owns 5,465 shares in the company, valued at approximately $3,831,839.40. This trade represents a 30.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,077 shares of company stock worth $12,303,829. Corporate insiders own 0.39% of the company’s stock.

Parker-Hannifin Stock Performance

NYSE PH opened at $704.51 on Tuesday. The stock has a market cap of $90.68 billion, a P/E ratio of 31.82, a PEG ratio of 2.85 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 Co. has a twelve month low of $426.49 and a twelve month high of $712.42. The company’s 50-day simple moving average is $649.47 and its 200 day simple moving average is $581.74.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, beating the consensus estimate of $6.14 by $0.06. The company had revenue of $4.90 billion for the quarter, compared to analyst estimates 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 was up 1.2% compared to the same quarter last year. During the same period in the prior year, the company posted $5.96 EPS. As a group, research analysts forecast that Parker-Hannifin Co. will post 26.77 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 8th will be issued a dividend of $1.63 per share. The ex-dividend date 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 presently 29.45%.

Analyst Upgrades and Downgrades

PH has been the topic of several analyst reports. UBS Group assumed coverage on Parker-Hannifin in a report on Wednesday, November 13th. They set a “buy” rating and a $842.00 price target on the stock. Barclays lifted their target price 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. Argus upped their price target on shares of Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Raymond James boosted their price objective on Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. Finally, Wells Fargo & Company raised their target price on Parker-Hannifin from $640.00 to $710.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Three investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $691.40.

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.