Parker-Hannifin Co. (NYSE:PH) Shares Sold by Kolinsky Wealth Management LLC

Kolinsky Wealth Management LLC cut its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 8.8% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 557 shares of the industrial products company’s stock after selling 54 shares during the period. Kolinsky Wealth Management LLC’s holdings in Parker-Hannifin were worth $352,000 at the end of the most recent quarter.

A number of other large investors have also made changes to their positions in the business. Verition Fund Management LLC increased its position in shares of Parker-Hannifin by 247.8% during the third quarter. Verition Fund Management LLC now owns 20,377 shares of the industrial products company’s stock worth $12,875,000 after purchasing an additional 14,519 shares in the last quarter. Hantz Financial Services Inc. grew its holdings in shares of Parker-Hannifin by 3.2% during the third quarter. Hantz Financial Services Inc. now owns 40,332 shares of the industrial products company’s stock valued at $25,483,000 after buying an additional 1,267 shares during the last quarter. Pin Oak Investment Advisors Inc. grew its holdings in shares of Parker-Hannifin by 24.8% during the third quarter. Pin Oak Investment Advisors Inc. now owns 161 shares of the industrial products company’s stock valued at $101,000 after buying an additional 32 shares during the last quarter. Vinva Investment Management Ltd grew its holdings in shares of Parker-Hannifin by 40.6% during the third quarter. Vinva Investment Management Ltd now owns 5,997 shares of the industrial products company’s stock valued at $3,795,000 after buying an additional 1,732 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in shares of Parker-Hannifin by 2.7% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 600,202 shares of the industrial products company’s stock valued at $379,220,000 after buying an additional 15,623 shares during the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages have recently weighed in on PH. StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. TD Cowen boosted their price objective on shares of Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Robert W. Baird boosted 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. Raymond James upped their price target on shares of Parker-Hannifin from $610.00 to $650.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. Finally, 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. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $691.40.

Parker-Hannifin Trading Up 0.4 %

PH stock opened at $702.93 on Friday. The company’s 50-day simple moving average is $656.37 and its 200-day simple moving average is $585.44. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. Parker-Hannifin Co. has a 52-week low of $426.78 and a 52-week high of $712.42. The firm has a market cap of $90.48 billion, a P/E ratio of 31.75, a PEG ratio of 2.82 and a beta of 1.43.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results 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 firm had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same quarter in the prior year, the firm earned $5.96 EPS. The company’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 26.77 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

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

Insider Buying and Selling

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,430 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total value of $1,703,818.80. Following the completion of the sale, the vice president now owns 5,465 shares in the company, valued at approximately $3,831,839.40. This represents a 30.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Andrew D. Ross sold 4,864 shares of the stock in a transaction dated 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 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 position. The disclosure for this sale can be found here. Insiders sold a total of 18,077 shares of company stock worth $12,303,829 in the last 90 days. Insiders own 0.39% of the company’s stock.

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.