Sheaff Brock Investment Advisors LLC Cuts Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Sheaff Brock Investment Advisors LLC lowered its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 3.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 16,109 shares of the industrial products company’s stock after selling 579 shares during the quarter. Parker-Hannifin accounts for 0.9% of Sheaff Brock Investment Advisors LLC’s investment portfolio, making the stock its 22nd largest holding. Sheaff Brock Investment Advisors LLC’s holdings in Parker-Hannifin were worth $10,178,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Wilkinson Global Asset Management LLC raised its stake in shares of Parker-Hannifin by 59.1% during the 3rd quarter. Wilkinson Global Asset Management LLC now owns 39,093 shares of the industrial products company’s stock worth $24,700,000 after purchasing an additional 14,526 shares during the period. UniSuper Management Pty Ltd raised its holdings 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 worth $1,912,000 after purchasing an additional 2,289 shares during the period. Canada Pension Plan Investment Board raised its holdings in shares of Parker-Hannifin by 19.9% in the 1st 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 period. Public Employees Retirement System of Ohio lifted 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 valued at $30,310,000 after purchasing an additional 982 shares during the last quarter. Finally, Swedbank AB bought a new position in Parker-Hannifin during the first quarter valued at $20,140,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Trading Down 1.2 %

NYSE PH opened at $697.63 on Friday. 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’s 50-day simple moving average is $631.19 and its two-hundred day simple moving average is $573.08. Parker-Hannifin Co. has a twelve month low of $425.20 and a twelve month high of $711.60. The company has a market capitalization of $89.80 billion, a price-to-earnings ratio of 31.51, a PEG ratio of 2.85 and a beta of 1.43.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share 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 analyst estimates of $4.90 billion. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the business posted $5.96 EPS. Research analysts forecast that Parker-Hannifin Co. will post 26.77 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 8th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend is Friday, November 8th. Parker-Hannifin’s dividend payout ratio is presently 29.45%.

Insider Buying and Selling

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

Analysts Set New Price Targets

A number of brokerages have recently commented on PH. Stifel Nicolaus upped their price target on Parker-Hannifin from $633.00 to $691.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Barclays increased their target price on shares of Parker-Hannifin from $650.00 to $703.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Evercore ISI upped their price target on shares of Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. UBS Group started coverage on shares of Parker-Hannifin in a research note on Wednesday. They issued a “buy” rating and a $842.00 price objective for the company. Finally, Argus increased their target price on Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $688.07.

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.