Empirical Finance LLC Raises Holdings in Parker-Hannifin Co. (NYSE:PH)

Empirical Finance LLC boosted its stake in Parker-Hannifin Co. (NYSE:PH) by 2.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,425 shares of the industrial products company’s stock after purchasing an additional 89 shares during the period. Empirical Finance LLC’s holdings in Parker-Hannifin were worth $2,796,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Wilkinson Global Asset Management LLC raised its holdings in 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 valued at $24,700,000 after buying an additional 14,526 shares during the last quarter. UniSuper Management Pty Ltd boosted its holdings in shares of Parker-Hannifin by 198.7% during the first 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 boosted its holdings in shares of Parker-Hannifin by 19.9% during the first 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 grew its stake in shares of 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 worth $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 1st quarter valued at approximately $20,140,000. Institutional investors own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. UBS Group assumed coverage on Parker-Hannifin in a research note on Wednesday. They set a “buy” rating and a $842.00 target price on the stock. Robert W. Baird raised their target price on shares of Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Raymond James increased their price target on shares of Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. Barclays boosted their target price on shares of Parker-Hannifin from $650.00 to $703.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Finally, StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Two analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $688.07.

Parker-Hannifin Price Performance

Shares of NYSE:PH opened at $697.56 on Friday. The firm’s 50 day moving average price is $631.19 and its 200-day moving average price 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 quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $89.79 billion, a PE ratio of 31.51, a price-to-earnings-growth ratio of 2.85 and a beta of 1.43.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.14 by $0.06. The company had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.90 billion. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. Parker-Hannifin’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.96 EPS. Equities research analysts expect that Parker-Hannifin Co. will post 26.77 EPS for the current year.

Parker-Hannifin Announces Dividend

The business also recently declared 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. The ex-dividend date of this dividend is Friday, November 8th. This represents a $6.52 annualized dividend and a yield of 0.93%. Parker-Hannifin’s dividend payout ratio is currently 29.45%.

Insider Transactions at Parker-Hannifin

In other news, COO Andrew D. Ross sold 4,864 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total transaction of $3,434,178.56. Following the completion of the sale, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at approximately $9,263,244.80. The trade was a 27.05 % decrease in their ownership of the stock. 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 the firm’s 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 completion of the transaction, the vice president now directly owns 3,350 shares in the company, valued at $1,986,282. This represents a 20.24 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,927 shares of company stock worth $12,807,811. 0.39% of the stock is currently owned by company insiders.

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.