Parker-Hannifin Co. (NYSE:PH) Shares Bought by Raymond James Trust N.A.

Raymond James Trust N.A. grew its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 0.6% during the third quarter, Holdings Channel.com reports. The firm owned 6,096 shares of the industrial products company’s stock after buying an additional 36 shares during the quarter. Raymond James Trust N.A.’s holdings in Parker-Hannifin were worth $3,852,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. CreativeOne Wealth LLC acquired a new position in Parker-Hannifin during the 1st quarter valued at about $342,000. Canada Pension Plan Investment Board boosted its holdings in shares of Parker-Hannifin by 19.9% in the first quarter. Canada Pension Plan Investment Board now owns 69,270 shares of the industrial products company’s stock valued at $38,500,000 after acquiring an additional 11,510 shares in the last quarter. Magnetar Financial LLC increased its stake in shares of Parker-Hannifin by 126.3% during the first quarter. Magnetar Financial LLC now owns 5,962 shares of the industrial products company’s stock valued at $3,314,000 after acquiring an additional 3,327 shares during the period. BOKF NA raised its holdings in Parker-Hannifin by 12.9% during the first quarter. BOKF NA now owns 2,107 shares of the industrial products company’s stock worth $1,161,000 after purchasing an additional 241 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD lifted its position in Parker-Hannifin by 8.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 196,960 shares of the industrial products company’s stock worth $109,470,000 after purchasing an additional 15,079 shares during the period. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Price Performance

NYSE:PH opened at $706.87 on Friday. 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. The firm’s 50-day simple moving average is $647.32 and its 200 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.

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

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 8th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.92%. Parker-Hannifin’s payout ratio is 29.45%.

Wall Street Analysts Forecast Growth

PH has been the topic of a number of research reports. Barclays boosted their price objective on Parker-Hannifin from $650.00 to $703.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Raymond James raised their target price on shares of Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Robert W. Baird lifted their price target on Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Mizuho increased their price objective on Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Finally, KeyCorp upped their price target on shares of Parker-Hannifin from $725.00 to $775.00 and gave the stock an “overweight” rating in a research note on Thursday. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $691.40.

Insider Buying and Selling

In other news, VP Thomas C. Gentile sold 2,430 shares of the firm’s stock in a transaction dated 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 sale, the vice president now owns 5,465 shares of the company’s stock, valued at $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 through this link. Also, VP Berend Bracht sold 850 shares of Parker-Hannifin 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 completion of the sale, the vice president now directly owns 3,350 shares of the company’s stock, valued at $1,986,282. The trade was a 20.24 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,927 shares of company stock worth $12,807,811. Corporate 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.