Parker-Hannifin Co. (NYSE:PH) Shares Bought by Grove Bank & Trust

Grove Bank & Trust grew its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 20.7% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 134 shares of the industrial products company’s stock after buying an additional 23 shares during the period. Grove Bank & Trust’s holdings in Parker-Hannifin were worth $85,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Parker-Hannifin Stock Performance

NYSE PH opened at $638.02 on Wednesday. The company has a current ratio of 0.93, a quick ratio of 0.55 and a debt-to-equity ratio of 0.59. The business’s 50 day moving average is $600.97 and its two-hundred day moving average is $558.12. The stock has a market capitalization of $82.01 billion, a price-to-earnings ratio of 30.07, a PEG ratio of 2.57 and a beta of 1.43. Parker-Hannifin Co. has a 12-month low of $362.49 and a 12-month high of $646.60.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, August 8th. The industrial products company reported $6.77 earnings per share for the quarter, topping analysts’ consensus estimates of $6.22 by $0.55. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. The firm had revenue of $5.19 billion for the quarter, compared to analyst estimates of $5.08 billion. During the same quarter in the prior year, the company posted $6.08 earnings per share. Parker-Hannifin’s quarterly revenue was up 1.8% on a year-over-year basis. Research analysts expect that Parker-Hannifin Co. will post 26.64 EPS for the current year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Wednesday, August 28th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date was Wednesday, August 28th. Parker-Hannifin’s dividend payout ratio is currently 30.73%.

Insiders Place Their Bets

In other news, Director Joseph Scaminace sold 1,751 shares of Parker-Hannifin stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the completion of the sale, the director now directly owns 3,900 shares in the company, valued at approximately $2,299,947. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, Director Joseph Scaminace sold 1,751 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $589.73, for a total value of $1,032,617.23. Following the completion of the transaction, the director now owns 3,900 shares in the company, valued at $2,299,947. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Berend Bracht sold 850 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $592.92, for a total transaction of $503,982.00. Following the completion of the sale, the vice president now owns 3,350 shares in the company, valued at $1,986,282. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.03% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Stifel Nicolaus raised their price target on Parker-Hannifin from $633.00 to $691.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. TD Cowen lifted their target price on shares of Parker-Hannifin from $500.00 to $520.00 and gave the company a “hold” rating in a report on Wednesday, September 11th. KeyCorp increased their price target on shares of Parker-Hannifin from $640.00 to $725.00 and gave the stock an “overweight” rating in a research note on Monday. Wells Fargo & Company lifted their price objective on shares of Parker-Hannifin from $640.00 to $710.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Finally, Robert W. Baird increased their target price on shares of Parker-Hannifin from $622.00 to $654.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $655.93.

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.