Fifth Third Wealth Advisors LLC Grows Holdings in Parker-Hannifin Co. (NYSE:PH)

Fifth Third Wealth Advisors LLC boosted its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 4.4% during the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 1,399 shares of the industrial products company’s stock after purchasing an additional 59 shares during the period. Fifth Third Wealth Advisors LLC’s holdings in Parker-Hannifin were worth $884,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Boston Partners grew its holdings in shares of Parker-Hannifin by 4.1% during the first 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 during the last quarter. Legal & General Group Plc grew its stake in shares of Parker-Hannifin by 1.3% in the 2nd quarter. Legal & General Group Plc now owns 985,280 shares of the industrial products company’s stock valued at $498,366,000 after purchasing an additional 12,615 shares during the last quarter. AMF Tjanstepension AB raised its stake 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 during the last quarter. Bank of Montreal Can lifted its holdings in shares of 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 purchasing an additional 76,629 shares during the period. Finally, Envestnet Asset Management Inc. grew its position in Parker-Hannifin by 18.1% in the 2nd quarter. Envestnet Asset Management Inc. now owns 652,539 shares of the industrial products company’s stock valued at $330,061,000 after buying an additional 99,959 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Price Performance

PH stock opened at $689.56 on Wednesday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96. The stock’s 50 day moving average price is $640.59 and its 200 day moving average price is $577.60. The firm has a market cap of $88.76 billion, a P/E ratio of 31.15, a PEG ratio of 2.82 and a beta of 1.43. Parker-Hannifin Co. has a 1 year low of $426.49 and a 1 year high of $711.60.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, topping analysts’ consensus estimates of $6.14 by $0.06. The firm had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.90 billion. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the business posted $5.96 EPS. On average, sell-side analysts expect that Parker-Hannifin Co. will post 26.77 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 8th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Friday, November 8th. Parker-Hannifin’s payout ratio is 29.45%.

Analysts Set New Price Targets

Several research firms have recently commented on PH. Deutsche Bank Aktiengesellschaft raised their target price on shares of Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. TD Cowen lifted their price objective on Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Stifel Nicolaus cut Parker-Hannifin from a “buy” rating to a “hold” rating and set a $691.00 target price on the stock. in a research report on Monday. StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Finally, UBS Group began coverage on Parker-Hannifin in a research report on Wednesday, November 13th. They issued a “buy” rating and a $842.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $688.07.

Insider Buying and Selling

In related news, VP Thomas C. Gentile sold 2,430 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total value of $1,703,818.80. Following the completion of the sale, the vice president now directly owns 5,465 shares in the company, valued at approximately $3,831,839.40. The trade was a 30.78 % 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 the SEC website. Also, VP Berend Bracht sold 850 shares of the stock in a transaction that occurred 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 transaction, the vice president now directly owns 3,350 shares in the company, valued at approximately $1,986,282. This represents a 20.24 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,927 shares of company stock worth $12,807,811. 0.39% of the stock is owned by 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.