Angeles Investment Advisors LLC Sells 200 Shares of Parker-Hannifin Co. (NYSE:PH)

Angeles Investment Advisors LLC lessened its stake in Parker-Hannifin Co. (NYSE:PH) by 11.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,513 shares of the industrial products company’s stock after selling 200 shares during the quarter. Angeles Investment Advisors LLC’s holdings in Parker-Hannifin were worth $956,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Pinnacle Financial Partners Inc lifted its position in shares of Parker-Hannifin by 2.3% during the third quarter. Pinnacle Financial Partners Inc now owns 3,240 shares of the industrial products company’s stock worth $2,047,000 after acquiring an additional 74 shares in the last quarter. Simmons Bank increased its position in shares of Parker-Hannifin by 0.7% during the third quarter. Simmons Bank now owns 2,753 shares of the industrial products company’s stock valued at $1,739,000 after buying an additional 19 shares during the period. Empower Advisory Group LLC bought a new stake in shares of Parker-Hannifin during the third quarter valued at about $224,000. Aptus Capital Advisors LLC increased its position in shares of Parker-Hannifin by 5.0% during the third quarter. Aptus Capital Advisors LLC now owns 649 shares of the industrial products company’s stock valued at $410,000 after buying an additional 31 shares during the period. Finally, Aigen Investment Management LP increased its position in shares of Parker-Hannifin by 56.5% during the third quarter. Aigen Investment Management LP now owns 1,066 shares of the industrial products company’s stock valued at $674,000 after buying an additional 385 shares during the period. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Up 0.6 %

Shares of NYSE:PH traded up $4.04 on Wednesday, hitting $703.36. 22,656 shares of the company traded hands, compared to its average volume of 643,804. Parker-Hannifin Co. has a 52 week low of $422.36 and a 52 week high of $711.60. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. The stock has a 50 day simple moving average of $628.60 and a 200-day simple moving average of $572.14. The company has a market cap of $90.54 billion, a PE ratio of 31.58, a PEG ratio of 2.86 and a beta of 1.43.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter was up 1.2% on a year-over-year basis. During the same period last year, the firm posted $5.96 earnings per share. As a group, research analysts expect that Parker-Hannifin Co. will post 26.79 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The business also recently disclosed 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 of this dividend 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 currently 29.45%.

Insider Activity

In other news, VP Berend Bracht sold 850 shares of Parker-Hannifin 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 transaction, the vice president now directly owns 3,350 shares of the company’s stock, valued at $1,986,282. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Joseph R. Leonti sold 5,877 shares of Parker-Hannifin stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $631.04, for a total transaction of $3,708,622.08. Following the sale, the vice president now owns 15,350 shares of the company’s stock, valued at approximately $9,686,464. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Berend Bracht sold 850 shares of Parker-Hannifin stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $592.92, for a total value of $503,982.00. Following the sale, the vice president now directly owns 3,350 shares in the company, valued at $1,986,282. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 20,678 shares of company stock valued at $13,840,428 in the last ninety days. Corporate insiders own 0.39% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on PH. UBS Group began coverage on Parker-Hannifin in a research note on Wednesday. They issued a “buy” rating and a $842.00 target price for the company. Robert W. Baird increased their price objective on Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Raymond James increased their price objective on Parker-Hannifin from $610.00 to $650.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. Barclays increased their price objective on Parker-Hannifin from $650.00 to $703.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Company increased their price objective on Parker-Hannifin from $640.00 to $710.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $688.07.

About Parker-Hannifin

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.