Parker-Hannifin Co. (NYSE:PH) Shares Purchased by Concurrent Investment Advisors LLC

Concurrent Investment Advisors LLC boosted its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 11.4% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,015 shares of the industrial products company’s stock after purchasing an additional 308 shares during the quarter. Concurrent Investment Advisors LLC’s holdings in Parker-Hannifin were worth $1,905,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in PH. TD Asset Management Inc raised its holdings in Parker-Hannifin by 152.1% in the first quarter. TD Asset Management Inc now owns 132,231 shares of the industrial products company’s stock valued at $73,493,000 after acquiring an additional 79,774 shares in the last quarter. Oppenheimer Asset Management Inc. raised its stake in shares of Parker-Hannifin by 54.1% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 17,165 shares of the industrial products company’s stock valued at $9,540,000 after purchasing an additional 6,029 shares in the last quarter. UniSuper Management Pty Ltd raised its stake in shares of Parker-Hannifin by 198.7% in the 1st quarter. UniSuper Management Pty Ltd now owns 3,441 shares of the industrial products company’s stock valued at $1,912,000 after purchasing an additional 2,289 shares in the last quarter. Canada Pension Plan Investment Board lifted its position in shares of Parker-Hannifin by 19.9% during the first quarter. Canada Pension Plan Investment Board now owns 69,270 shares of the industrial products company’s stock worth $38,500,000 after purchasing an additional 11,510 shares during the last quarter. Finally, Public Employees Retirement System of Ohio grew its stake in Parker-Hannifin by 1.8% in the first quarter. Public Employees Retirement System of Ohio now owns 54,535 shares of the industrial products company’s stock worth $30,310,000 after purchasing an additional 982 shares in the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, VP Berend Bracht sold 850 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were 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 directly owns 3,350 shares of the company’s stock, valued at $1,986,282. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the sale, the director now owns 3,900 shares in the company, valued at approximately $2,299,947. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Berend Bracht sold 850 shares of the firm’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 transaction, the vice president now owns 3,350 shares of the company’s stock, valued at approximately $1,986,282. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 8,478 shares of company stock worth $5,245,221. Corporate insiders own 0.39% of the company’s stock.

Parker-Hannifin Stock Down 2.7 %

Shares of Parker-Hannifin stock opened at $690.03 on Friday. Parker-Hannifin Co. has a 1-year low of $407.78 and a 1-year high of $709.63. The company has a market capitalization of $88.79 billion, a P/E ratio of 31.14, a PEG ratio of 2.57 and a beta of 1.43. The business’s fifty day moving average price is $620.09 and its two-hundred day moving average price is $567.76. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, topping the consensus estimate of $6.14 by $0.06. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The business had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same quarter in the prior year, the company posted $5.96 earnings per share. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. As a group, research analysts forecast that Parker-Hannifin Co. will post 26.84 EPS for the current year.

Parker-Hannifin Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Friday, November 8th. This represents a $6.52 annualized dividend and a yield of 0.94%. Parker-Hannifin’s dividend payout ratio is currently 29.45%.

Analyst Ratings Changes

PH has been the topic of a number of research analyst reports. StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Robert W. Baird lifted their price objective on shares of Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Stifel Nicolaus increased their target price on shares of Parker-Hannifin from $633.00 to $691.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Evercore ISI lifted their price target on shares of Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Finally, Barclays boosted their price objective on shares of Parker-Hannifin from $650.00 to $703.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $673.14.

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.