D.A. Davidson & CO. Trims Position in Parker-Hannifin Co. (NYSE:PH)

D.A. Davidson & CO. cut its holdings in shares of Parker-Hannifin Co. (NYSE:PHFree Report) by 0.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,755 shares of the industrial products company’s stock after selling 35 shares during the period. D.A. Davidson & CO.’s holdings in Parker-Hannifin were worth $1,852,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in PH. OFI Invest Asset Management bought a new stake in Parker-Hannifin during the third quarter worth approximately $25,000. Baystate Wealth Management LLC raised its holdings in Parker-Hannifin by 233.3% during the third quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock worth $27,000 after purchasing an additional 49 shares in the last quarter. DHJJ Financial Advisors Ltd. bought a new stake in Parker-Hannifin during the third quarter worth approximately $29,000. First Capital Advisors Group LLC. bought a new position in shares of Parker-Hannifin in the second quarter valued at $30,000. Finally, Oakworth Capital Inc. increased its holdings in shares of Parker-Hannifin by 48.3% in the third quarter. Oakworth Capital Inc. now owns 86 shares of the industrial products company’s stock valued at $33,000 after buying an additional 28 shares in the last quarter. 82.25% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on the company. Deutsche Bank Aktiengesellschaft raised Parker-Hannifin from a “hold” rating to a “buy” rating and upped their price target for the company from $462.00 to $506.00 in a report on Thursday, November 9th. Wells Fargo & Company upped their price target on Parker-Hannifin from $450.00 to $510.00 and gave the company an “overweight” rating in a report on Tuesday, December 19th. KeyCorp upped their price target on Parker-Hannifin from $500.00 to $575.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. Barclays upped their price target on Parker-Hannifin from $500.00 to $558.00 and gave the company an “overweight” rating in a report on Monday, February 5th. Finally, Wolfe Research reiterated a “peer perform” rating on shares of Parker-Hannifin in a research report on Monday, December 11th. Three investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $480.93.

Check Out Our Latest Report on PH

Parker-Hannifin Trading Up 1.1 %

Parker-Hannifin stock opened at $521.38 on Friday. The company’s fifty day simple moving average is $464.63 and its 200-day simple moving average is $424.78. The company has a quick ratio of 0.49, a current ratio of 0.90 and a debt-to-equity ratio of 0.72. Parker-Hannifin Co. has a 12 month low of $300.86 and a 12 month high of $521.50. The stock has a market cap of $66.95 billion, a P/E ratio of 25.81, a P/E/G ratio of 1.90 and a beta of 1.50.

Parker-Hannifin (NYSE:PHGet Free Report) last posted its quarterly earnings results on Thursday, February 1st. The industrial products company reported $6.15 EPS for the quarter, beating the consensus estimate of $5.26 by $0.89. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. The business had revenue of $4.82 billion for the quarter, compared to analysts’ expectations of $4.82 billion. During the same period in the previous year, the company posted $4.76 EPS. Parker-Hannifin’s revenue was up 3.1% on a year-over-year basis. As a group, sell-side analysts forecast that Parker-Hannifin Co. will post 24.15 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Investors of record on Friday, February 9th will be issued a $1.48 dividend. This represents a $5.92 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date of this dividend is Thursday, February 8th. Parker-Hannifin’s dividend payout ratio is presently 29.31%.

Insider Buying and Selling

In related news, VP Thomas C. Gentile sold 2,978 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $501.72, for a total value of $1,494,122.16. Following the completion of the sale, the vice president now directly owns 5,465 shares in the company, valued at $2,741,899.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,978 shares of the business’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the completion of the transaction, the vice president now owns 5,465 shares of the company’s stock, valued at approximately $2,741,899.80. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Andrew D. Ross sold 3,904 shares of the business’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $510.16, for a total transaction of $1,991,664.64. Following the transaction, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at approximately $6,693,299.20. The disclosure for this sale can be found here. Over the last three months, insiders sold 12,079 shares of company stock worth $6,099,566. Corporate insiders own 1.03% of the company’s stock.

Parker-Hannifin Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Parker-Hannifin (NYSE:PH)

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