Ferguson Wellman Capital Management Inc. Lowers Holdings in Parker-Hannifin Co. (NYSE:PH)

Ferguson Wellman Capital Management Inc. lessened its stake in Parker-Hannifin Co. (NYSE:PH) by 14.3% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 160,070 shares of the industrial products company’s stock after selling 26,749 shares during the quarter. Parker-Hannifin accounts for approximately 2.0% of Ferguson Wellman Capital Management Inc.’s portfolio, making the stock its 12th biggest position. Ferguson Wellman Capital Management Inc.’s holdings in Parker-Hannifin were worth $101,135,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Metis Global Partners LLC grew its stake in shares of Parker-Hannifin by 1.8% during the 3rd quarter. Metis Global Partners LLC now owns 4,107 shares of the industrial products company’s stock worth $2,595,000 after purchasing an additional 74 shares during the period. KBC Group NV grew its stake in shares of Parker-Hannifin by 272.7% during the third quarter. KBC Group NV now owns 38,633 shares of the industrial products company’s stock valued at $24,409,000 after acquiring an additional 28,268 shares in the last quarter. BCM Advisors LLC increased its holdings in shares of Parker-Hannifin by 0.5% in the 3rd quarter. BCM Advisors LLC now owns 3,971 shares of the industrial products company’s stock valued at $2,533,000 after acquiring an additional 20 shares during the last quarter. Schrum Private Wealth Management LLC acquired a new stake in shares of Parker-Hannifin in the 3rd quarter worth about $382,000. Finally, Kovack Advisors Inc. increased its stake in shares of Parker-Hannifin by 30.5% during the third quarter. Kovack Advisors Inc. now owns 590 shares of the industrial products company’s stock valued at $373,000 after acquiring an additional 138 shares during the period. 82.44% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PH. Wells Fargo & Company increased their price target on Parker-Hannifin from $640.00 to $710.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. KeyCorp upped 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. Mizuho raised their price objective 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. StockNews.com upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on shares of Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $688.07.

Insider Activity at Parker-Hannifin

In related news, VP Berend Bracht sold 850 shares of the company’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 directly owns 3,350 shares of the company’s stock, valued at $1,986,282. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Berend Bracht sold 850 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $592.92, for a total transaction of $503,982.00. Following the completion of the transaction, the vice president now directly owns 3,350 shares in the company, valued at approximately $1,986,282. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Thomas C. Gentile sold 2,430 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total value of $1,703,818.80. Following the transaction, the vice president now directly owns 5,465 shares of the company’s stock, valued at $3,831,839.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,927 shares of company stock worth $12,807,811 in the last 90 days. 0.39% of the stock is owned by corporate insiders.

Parker-Hannifin Stock Down 0.8 %

Parker-Hannifin stock traded down $5.71 during midday trading on Thursday, hitting $700.75. 21,215 shares of the stock were exchanged, compared to its average volume of 643,317. The stock has a market capitalization of $90.20 billion, a price-to-earnings ratio of 31.91, a price-to-earnings-growth ratio of 2.82 and a beta of 1.43. 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 $425.20 and a 52-week high of $711.60. The business’s 50-day moving average price is $631.19 and its 200-day moving average price is $573.08.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, topping 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 company had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same quarter in the previous year, the company posted $5.96 EPS. Parker-Hannifin’s quarterly revenue was up 1.2% compared to the same quarter last year. On average, research analysts expect that Parker-Hannifin Co. will post 26.77 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company 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. This represents a $6.52 annualized dividend and a yield of 0.93%. The ex-dividend date is Friday, November 8th. Parker-Hannifin’s dividend payout ratio is currently 29.45%.

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.