Parker-Hannifin Co. (NYSE:PH) Shares Acquired by Citizens Financial Group Inc. RI

Citizens Financial Group Inc. RI increased its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 33.5% in the third quarter, Holdings Channel reports. The firm owned 27,644 shares of the industrial products company’s stock after buying an additional 6,930 shares during the quarter. Citizens Financial Group Inc. RI’s holdings in Parker-Hannifin were worth $17,466,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors also recently bought and sold shares of the company. International Assets Investment Management LLC lifted its holdings in shares of Parker-Hannifin by 64,081.5% during the third quarter. International Assets Investment Management LLC now owns 381,880 shares of the industrial products company’s stock worth $241,279,000 after purchasing an additional 381,285 shares during the period. Mizuho Securities USA LLC boosted its holdings in shares of Parker-Hannifin by 3,566.4% in the third quarter. Mizuho Securities USA LLC now owns 363,302 shares of the industrial products company’s stock valued at $229,541,000 after acquiring an additional 353,393 shares in the last quarter. 1832 Asset Management L.P. increased its stake in shares of Parker-Hannifin by 305.0% during the first quarter. 1832 Asset Management L.P. now owns 307,794 shares of the industrial products company’s stock worth $171,069,000 after acquiring an additional 231,788 shares during the period. AMF Tjanstepension AB raised its holdings in Parker-Hannifin by 23.0% during the second quarter. AMF Tjanstepension AB now owns 758,262 shares of the industrial products company’s stock worth $383,594,000 after purchasing an additional 141,862 shares in the last quarter. Finally, Mackenzie Financial Corp boosted its holdings in Parker-Hannifin by 107.7% in the 2nd quarter. Mackenzie Financial Corp now owns 271,717 shares of the industrial products company’s stock valued at $137,437,000 after purchasing an additional 140,898 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Thomas C. Gentile sold 2,430 shares of the firm’s stock in a transaction on 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 transaction, the vice president now owns 5,465 shares of the company’s stock, valued at approximately $3,831,839.40. This trade represents a 30.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Joseph R. Leonti sold 5,877 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $631.04, for a total value of $3,708,622.08. Following the completion of the transaction, the vice president now directly owns 15,350 shares in the company, valued at $9,686,464. This trade represents a 27.69 % decrease in their ownership of the stock. 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.

Analyst Ratings Changes

PH has been the topic of a number of recent analyst reports. Robert W. Baird upped their price objective on Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. KeyCorp raised their price objective on shares of Parker-Hannifin from $640.00 to $725.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. UBS Group began coverage on shares of Parker-Hannifin in a research report on Wednesday, November 13th. They set a “buy” rating and a $842.00 target price on the stock. Finally, TD Cowen lifted their price target on shares of Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and an average price target of $688.07.

Parker-Hannifin Stock Up 0.1 %

PH stock opened at $690.43 on Thursday. Parker-Hannifin Co. has a one year low of $426.49 and a one year high of $711.60. The stock has a market capitalization of $88.87 billion, a P/E ratio of 31.18, a PEG ratio of 2.78 and a beta of 1.43. The company has a 50 day moving average price of $642.71 and a two-hundred day moving average price of $578.38. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96.

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

Parker-Hannifin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors 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 0.94%. Parker-Hannifin’s payout ratio is 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.