KBC Group NV Raises Stock Position in Parker-Hannifin Co. (NYSE:PH)

KBC Group NV lifted its holdings in Parker-Hannifin Co. (NYSE:PH) by 272.7% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 38,633 shares of the industrial products company’s stock after buying an additional 28,268 shares during the period. KBC Group NV’s holdings in Parker-Hannifin were worth $24,409,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in PH. Addison Advisors LLC purchased a new stake in Parker-Hannifin during the second quarter valued at approximately $25,000. West Branch Capital LLC bought a new position in shares of Parker-Hannifin during the 3rd quarter valued at approximately $25,000. Bangor Savings Bank raised its holdings in Parker-Hannifin by 238.5% during the 3rd quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock valued at $28,000 after buying an additional 31 shares during the period. Fortitude Family Office LLC lifted its position in Parker-Hannifin by 346.7% in the second quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company’s stock worth $34,000 after buying an additional 52 shares during the last quarter. Finally, Crewe Advisors LLC purchased a new position in Parker-Hannifin during the first quarter worth $38,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

PH has been the subject of several analyst reports. Wells Fargo & Company raised their target price on shares of Parker-Hannifin from $640.00 to $710.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Barclays boosted their target price on Parker-Hannifin from $650.00 to $703.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft increased 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. Mizuho boosted their price objective on Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, UBS Group began coverage on Parker-Hannifin in a research note on Wednesday. They issued a “buy” rating and a $842.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Parker-Hannifin presently has an average rating of “Moderate Buy” and a consensus target price of $688.07.

Parker-Hannifin Stock Up 0.2 %

Shares of Parker-Hannifin stock opened at $698.91 on Friday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57. The stock has a market cap of $89.96 billion, a price-to-earnings ratio of 31.57, a PEG ratio of 2.85 and a beta of 1.43. The firm’s 50-day moving average is $633.64 and its two-hundred day moving average is $573.94. Parker-Hannifin Co. has a 1 year low of $425.20 and a 1 year high of $711.60.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data 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. 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 for the quarter, compared to the consensus estimate of $4.90 billion. During the same period last year, the firm earned $5.96 earnings per share. The company’s quarterly revenue was up 1.2% on a year-over-year basis. As a group, research analysts expect that Parker-Hannifin Co. will post 26.77 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 8th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a yield of 0.93%. Parker-Hannifin’s dividend payout ratio is presently 29.45%.

Insider Buying and Selling at Parker-Hannifin

In other news, VP Thomas C. Gentile sold 2,430 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total transaction 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 sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Berend Bracht sold 850 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $592.92, for a total value of $503,982.00. Following the transaction, the vice president now owns 3,350 shares in the company, valued at approximately $1,986,282. This trade represents a 20.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,927 shares of company stock valued at $12,807,811. 0.39% of the stock is currently owned by insiders.

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.