Ted Buchan & Co Boosts Stake in Parker-Hannifin Co. (NYSE:PH)

Ted Buchan & Co raised its position in Parker-Hannifin Co. (NYSE:PH) by 9.6% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 751 shares of the industrial products company’s stock after purchasing an additional 66 shares during the quarter. Ted Buchan & Co’s holdings in Parker-Hannifin were worth $454,000 as of its most recent SEC filing.

A number of other large investors also recently added to or reduced their stakes in PH. Mesirow Financial Investment Management Inc. purchased a new stake in shares of Parker-Hannifin in the 3rd quarter valued at $436,000. Sustainable Insight Capital Management LLC grew its position in Parker-Hannifin by 8.4% in the 3rd quarter. Sustainable Insight Capital Management LLC now owns 5,743 shares of the industrial products company’s stock valued at $3,629,000 after acquiring an additional 443 shares in the last quarter. Lindbrook Capital LLC increased its stake in Parker-Hannifin by 30.2% during the third quarter. Lindbrook Capital LLC now owns 1,750 shares of the industrial products company’s stock worth $1,106,000 after purchasing an additional 406 shares during the period. Bridges Investment Management Inc. lifted its position in shares of Parker-Hannifin by 3.8% during the third quarter. Bridges Investment Management Inc. now owns 18,220 shares of the industrial products company’s stock worth $11,512,000 after purchasing an additional 665 shares in the last quarter. Finally, Assetmark Inc. boosted its stake in shares of Parker-Hannifin by 4.0% in the third quarter. Assetmark Inc. now owns 21,458 shares of the industrial products company’s stock valued at $13,558,000 after purchasing an additional 816 shares during the period. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Price Performance

Shares of NYSE:PH opened at $695.58 on Friday. Parker-Hannifin Co. has a 12 month low of $410.86 and a 12 month high of $709.63. The firm has a market capitalization of $89.54 billion, a P/E ratio of 31.42, a P/E/G ratio of 2.86 and a beta of 1.43. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57. The company’s fifty day moving average price is $623.97 and its 200 day moving average price is $569.69.

Parker-Hannifin (NYSE:PH) last posted its earnings results 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 business had revenue of $4.90 billion for 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 business’s revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.96 earnings per share. As a group, sell-side analysts predict that Parker-Hannifin Co. will post 26.79 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be given 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 0.94%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 29.45%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. TD Cowen increased their target price on shares of Parker-Hannifin from $500.00 to $520.00 and gave the stock a “hold” rating in a report on Wednesday, September 11th. Mizuho increased their price objective on Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft boosted their target price on Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Barclays increased their price target on Parker-Hannifin from $650.00 to $703.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Finally, Stifel Nicolaus boosted their price objective on Parker-Hannifin from $633.00 to $691.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $673.14.

Insider Activity

In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of the firm’s stock in a transaction 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 transaction, the director now directly owns 3,900 shares of the company’s stock, valued at approximately $2,299,947. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of the stock in a transaction that occurred on 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 completion of the sale, the director now directly owns 3,900 shares of the company’s stock, 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 can be accessed through the SEC website. Also, COO Andrew D. Ross sold 4,864 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total value of $3,434,178.56. Following the completion of the transaction, the chief operating officer now directly owns 13,120 shares in the company, valued at approximately $9,263,244.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 20,678 shares of company stock valued at $13,840,428 in the last ninety days. 0.39% of the stock is currently owned by company insiders.

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.