Baron Wealth Management LLC Boosts Stake in Parker-Hannifin Co. (NYSE:PH)

Baron Wealth Management LLC boosted its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 22.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,061 shares of the industrial products company’s stock after buying an additional 195 shares during the period. Baron Wealth Management LLC’s holdings in Parker-Hannifin were worth $671,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of PH. Wilkinson Global Asset Management LLC lifted its holdings in shares of Parker-Hannifin by 59.1% during the 3rd quarter. Wilkinson Global Asset Management LLC now owns 39,093 shares of the industrial products company’s stock valued at $24,700,000 after purchasing an additional 14,526 shares during the last quarter. UniSuper Management Pty Ltd raised its stake in Parker-Hannifin by 198.7% in the 1st quarter. UniSuper Management Pty Ltd now owns 3,441 shares of the industrial products company’s stock worth $1,912,000 after acquiring an additional 2,289 shares during the last quarter. Canada Pension Plan Investment Board raised its stake in Parker-Hannifin by 19.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 69,270 shares of the industrial products company’s stock worth $38,500,000 after acquiring an additional 11,510 shares during the last quarter. Public Employees Retirement System of Ohio raised its stake in Parker-Hannifin by 1.8% in the 1st quarter. Public Employees Retirement System of Ohio now owns 54,535 shares of the industrial products company’s stock worth $30,310,000 after acquiring an additional 982 shares during the last quarter. Finally, Swedbank AB purchased a new position in Parker-Hannifin in the 1st quarter worth $20,140,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the company. UBS Group assumed coverage on Parker-Hannifin in a research note on Wednesday, November 13th. They issued a “buy” rating and a $842.00 target price for the company. Stifel Nicolaus lowered Parker-Hannifin from a “buy” rating to a “hold” rating and set a $691.00 price objective for the company. in a research note on Monday. KeyCorp lifted their price objective on Parker-Hannifin from $640.00 to $725.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Wells Fargo & Company lifted their price objective on Parker-Hannifin from $640.00 to $710.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Finally, Barclays lifted their price objective on Parker-Hannifin from $650.00 to $703.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $688.07.

Parker-Hannifin Trading Down 1.0 %

Shares of Parker-Hannifin stock opened at $691.68 on Tuesday. The stock has a market cap of $89.03 billion, a P/E ratio of 31.24, a P/E/G ratio of 2.82 and a beta of 1.43. The stock’s 50 day simple moving average is $638.42 and its 200-day simple moving average is $576.52. Parker-Hannifin Co. has a 1-year low of $426.49 and a 1-year high of $711.60. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57.

Parker-Hannifin (NYSE:PH) last issued its 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. The business had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.90 billion. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.96 EPS. Analysts predict that Parker-Hannifin Co. will post 26.77 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 0.94%. The ex-dividend date is Friday, November 8th. Parker-Hannifin’s payout ratio is presently 29.45%.

Insider Activity

In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of the business’s stock in a transaction that occurred 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 sale, the vice president now owns 3,350 shares of the company’s stock, valued at $1,986,282. The trade was a 20.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 transaction of $1,703,818.80. Following the completion of 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 disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,927 shares of company stock valued at $12,807,811. 0.39% of the stock is currently owned by company insiders.

Parker-Hannifin Company 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.