Principal Securities Inc. increased its holdings in Parker-Hannifin Co. (NYSE:PH - Free Report) by 27.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,956 shares of the industrial products company's stock after buying an additional 1,073 shares during the period. Principal Securities Inc.'s holdings in Parker-Hannifin were worth $3,132,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also made changes to their positions in the company. TD Asset Management Inc lifted its position in shares of Parker-Hannifin by 152.1% during the 1st 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 during the period. Daiwa Securities Group Inc. lifted its position in Parker-Hannifin by 8.5% during the first quarter. Daiwa Securities Group Inc. now owns 22,960 shares of the industrial products company's stock worth $12,761,000 after purchasing an additional 1,802 shares during the period. Concurrent Investment Advisors LLC grew its stake in Parker-Hannifin by 261.4% during the first quarter. Concurrent Investment Advisors LLC now owns 2,515 shares of the industrial products company's stock worth $1,397,000 after buying an additional 1,819 shares in the last quarter. Oppenheimer Asset Management Inc. increased its holdings in 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 buying an additional 6,029 shares during the period. Finally, Janney Montgomery Scott LLC raised its position in shares of Parker-Hannifin by 16.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 42,523 shares of the industrial products company's stock valued at $23,634,000 after buying an additional 6,013 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors.
Shares of NYSE PH opened at $635.03 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.55 and a current ratio of 0.96. Parker-Hannifin Co. has a 52-week low of $395.00 and a 52-week high of $646.60. The firm has a 50 day moving average price of $615.46 and a two-hundred day moving average price of $565.05. The stock has a market cap of $81.71 billion, a P/E ratio of 28.68, a price-to-earnings-growth ratio of 2.57 and a beta of 1.43.
Parker-Hannifin (NYSE:PH - Get Free Report) last issued 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 company had revenue of $4.90 billion for the quarter, compared to analysts' expectations of $4.90 billion. During the same quarter in the previous year, the firm posted $5.96 earnings per share. Parker-Hannifin's revenue for the quarter was up 1.2% on a year-over-year basis. As a group, equities analysts forecast that Parker-Hannifin Co. will post 26.67 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 8th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend is Friday, November 8th. Parker-Hannifin's dividend payout ratio is currently 29.45%.
In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the director now owns 3,900 shares in the company, valued at approximately $2,299,947. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of the 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 completion of the sale, the director now directly owns 3,900 shares in the company, valued at approximately $2,299,947. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Berend Bracht sold 850 shares of the company's stock in a transaction dated 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 owns 3,350 shares in the company, valued at approximately $1,986,282. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by company insiders.
Several research firms recently issued reports on PH. Evercore ISI increased their price target on shares of Parker-Hannifin from $620.00 to $656.00 and gave the stock an "outperform" rating in a research report on Monday, August 19th. Mizuho lifted their price target 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 price target on Parker-Hannifin from $595.00 to $645.00 and gave the stock a "buy" rating in a report on Friday, August 9th. Barclays raised 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, Robert W. Baird boosted their target price on Parker-Hannifin from $695.00 to $710.00 and gave the stock an "outperform" rating in a research note on Friday. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $664.57.
Check Out Our Latest Report on 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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Parker-Hannifin, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Parker-Hannifin wasn't on the list.
While Parker-Hannifin currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.