Parker-Hannifin Co. (NYSE:PH) is First Long Island Investors LLC’s 7th Largest Position

First Long Island Investors LLC lifted its holdings in Parker-Hannifin Co. (NYSE:PH) by 0.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 68,921 shares of the industrial products company’s stock after buying an additional 525 shares during the quarter. Parker-Hannifin accounts for 3.4% of First Long Island Investors LLC’s portfolio, making the stock its 7th biggest holding. First Long Island Investors LLC’s holdings in Parker-Hannifin were worth $43,546,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. International Assets Investment Management LLC increased its holdings in Parker-Hannifin by 64,081.5% in the third quarter. International Assets Investment Management LLC now owns 381,880 shares of the industrial products company’s stock valued at $241,279,000 after buying an additional 381,285 shares in the last quarter. 1832 Asset Management L.P. increased its stake in Parker-Hannifin by 305.0% in the 1st quarter. 1832 Asset Management L.P. now owns 307,794 shares of the industrial products company’s stock valued at $171,069,000 after purchasing an additional 231,788 shares in the last quarter. AMF Tjanstepension AB raised its holdings in 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. Mackenzie Financial Corp boosted its position in Parker-Hannifin by 107.7% during the second quarter. Mackenzie Financial Corp now owns 271,717 shares of the industrial products company’s stock worth $137,437,000 after purchasing an additional 140,898 shares in the last quarter. Finally, Swedbank AB grew its holdings in Parker-Hannifin by 377.8% in the third quarter. Swedbank AB now owns 158,085 shares of the industrial products company’s stock valued at $99,881,000 after purchasing an additional 125,000 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Trading Up 0.2 %

NYSE:PH traded up $1.53 during mid-day trading on Friday, reaching $699.16. The company’s stock had a trading volume of 109,898 shares, compared to its average volume of 643,495. 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 stock has a market cap of $90.00 billion, a P/E ratio of 31.66, a P/E/G ratio of 2.85 and a beta of 1.43. The company’s fifty day simple moving average is $633.64 and its two-hundred day simple moving average is $573.94. Parker-Hannifin Co. has a twelve month low of $425.20 and a twelve month high of $711.60.

Parker-Hannifin (NYSE:PH) last released 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. 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 for the quarter, compared to analysts’ expectations of $4.90 billion. During the same period last year, the company earned $5.96 earnings per share. The company’s quarterly revenue was up 1.2% on a year-over-year basis. On average, equities analysts predict that Parker-Hannifin Co. will post 26.77 EPS for the current year.

Parker-Hannifin Dividend Announcement

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 given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Friday, November 8th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 29.45%.

Insider Buying and Selling

In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of the business’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 transaction of $503,982.00. Following the completion of the sale, the vice president now directly owns 3,350 shares in the company, valued at $1,986,282. The trade was a 20.24 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Thomas C. Gentile sold 2,430 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the completion of the transaction, the vice president now directly owns 5,465 shares in the company, valued at approximately $3,831,839.40. This represents a 30.78 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 18,927 shares of company stock valued at $12,807,811. 0.39% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research analysts have recently issued reports on PH shares. TD Cowen lifted their price target on Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a research note on Tuesday. 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 report on Monday, August 19th. KeyCorp increased their price target on shares of Parker-Hannifin from $640.00 to $725.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft lifted their price objective on Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, Barclays increased their target price on Parker-Hannifin from $650.00 to $703.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to data from MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and an average target price 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.