Pitcairn Co. Has $2.88 Million Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Pitcairn Co. trimmed its stake in Parker-Hannifin Co. (NYSE:PH) by 1.3% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 4,555 shares of the industrial products company’s stock after selling 60 shares during the quarter. Pitcairn Co.’s holdings in Parker-Hannifin were worth $2,878,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Canopy Partners LLC acquired a new position in shares of Parker-Hannifin during the third quarter valued at about $241,000. Kingsview Wealth Management LLC grew its holdings in shares of Parker-Hannifin by 5.1% during the third quarter. Kingsview Wealth Management LLC now owns 1,799 shares of the industrial products company’s stock valued at $1,136,000 after buying an additional 87 shares during the last quarter. Cerity Partners LLC grew its holdings in shares of Parker-Hannifin by 44.9% during the third quarter. Cerity Partners LLC now owns 63,282 shares of the industrial products company’s stock valued at $39,983,000 after buying an additional 19,616 shares during the last quarter. Nicolet Advisory Services LLC grew its holdings in shares of Parker-Hannifin by 16.0% during the third quarter. Nicolet Advisory Services LLC now owns 602 shares of the industrial products company’s stock valued at $377,000 after buying an additional 83 shares during the last quarter. Finally, Nwam LLC acquired a new position in shares of Parker-Hannifin during the third quarter valued at about $1,009,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. Robert W. Baird lifted their price objective on shares of Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a report on Friday, November 1st. Stifel Nicolaus lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating and set a $691.00 price target on the stock. in a research report on Monday, November 18th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Mizuho raised their price target on shares of Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Finally, Barclays raised their price target on shares of Parker-Hannifin from $650.00 to $703.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and a consensus price target of $691.40.

Insider Activity

In related news, COO Andrew D. Ross sold 4,864 shares of the business’s stock in a transaction that occurred 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 transaction, the chief operating officer now 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 legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Thomas C. Gentile sold 2,430 shares of the business’s stock in a transaction that occurred 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 transaction, the vice president now directly owns 5,465 shares of the company’s stock, 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. Insiders have sold a total of 18,927 shares of company stock valued at $12,807,811 over the last quarter. Company insiders own 0.39% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $706.87 on Friday. The firm’s 50-day simple moving average is $647.32 and its two-hundred day simple moving average is $580.33. Parker-Hannifin Co. has a 52 week low of $426.49 and a 52 week high of $711.60. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96. The firm has a market cap of $90.99 billion, a price-to-earnings ratio of 31.93, a P/E/G ratio of 2.84 and a beta of 1.43.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $4.90 billion. During the same quarter in the previous year, the firm posted $5.96 earnings per share. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. As a group, equities analysts forecast that Parker-Hannifin Co. will post 26.77 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders 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 0.92%. The ex-dividend date is Friday, November 8th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 29.45%.

Parker-Hannifin 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.