New England Research & Management Inc. Sells 150 Shares of Parker-Hannifin Co. (NYSE:PH)

New England Research & Management Inc. decreased its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 19.2% during the third quarter, according to the company in its most recent disclosure with the SEC. The fund owned 630 shares of the industrial products company’s stock after selling 150 shares during the quarter. New England Research & Management Inc.’s holdings in Parker-Hannifin were worth $398,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Parker-Hannifin by 1.0% during the first quarter. Vanguard Group Inc. now owns 10,566,391 shares of the industrial products company’s stock valued at $5,872,694,000 after buying an additional 105,475 shares during the last quarter. Boston Partners grew its stake in Parker-Hannifin by 4.1% in the first quarter. Boston Partners now owns 1,111,720 shares of the industrial products company’s stock worth $617,878,000 after purchasing an additional 43,535 shares in the last quarter. Legal & General Group Plc grew its stake in Parker-Hannifin by 1.3% in the second quarter. Legal & General Group Plc now owns 985,280 shares of the industrial products company’s stock worth $498,366,000 after purchasing an additional 12,615 shares in the last quarter. AMF Tjanstepension AB grew its stake in Parker-Hannifin by 23.0% in 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, Bank of Montreal Can grew its stake in Parker-Hannifin by 11.6% in the second quarter. Bank of Montreal Can now owns 735,755 shares of the industrial products company’s stock worth $378,572,000 after purchasing an additional 76,629 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

Insider Buying and Selling

In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of Parker-Hannifin stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the completion of the transaction, the director now owns 3,900 shares in the company, valued at approximately $2,299,947. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Joseph Scaminace sold 1,751 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the sale, the director now directly owns 3,900 shares in the company, valued at $2,299,947. This trade 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 the SEC website. Also, VP Berend Bracht sold 850 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were 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 in the company, valued at $1,986,282. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.03% of the stock is currently owned by company insiders.

Parker-Hannifin Stock Down 0.1 %

Shares of PH traded down $0.54 during midday trading on Monday, hitting $630.14. 369,081 shares of the company’s stock traded hands, compared to its average volume of 646,035. Parker-Hannifin Co. has a 1 year low of $362.49 and a 1 year high of $639.87. The firm’s fifty day moving average is $586.92 and its 200-day moving average is $554.21. The company has a current ratio of 0.93, a quick ratio of 0.55 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $81.08 billion, a price-to-earnings ratio of 29.68, a price-to-earnings-growth ratio of 2.55 and a beta of 1.43.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, August 8th. The industrial products company reported $6.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.22 by $0.55. The company had revenue of $5.19 billion during the quarter, compared to analyst estimates of $5.08 billion. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. During the same quarter last year, the business posted $6.08 EPS. As a group, sell-side analysts anticipate that Parker-Hannifin Co. will post 26.64 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Wednesday, August 28th were paid a $1.63 dividend. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $6.52 dividend on an annualized basis and a yield of 1.03%. Parker-Hannifin’s dividend payout ratio (DPR) is 30.73%.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. TD Cowen increased their price objective on Parker-Hannifin from $500.00 to $520.00 and gave the stock a “hold” rating in a research note on Wednesday, September 11th. Stifel Nicolaus increased their price objective on Parker-Hannifin from $633.00 to $691.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Raymond James increased their price objective on Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft increased their target price on Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, Evercore ISI increased their target price on Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $641.64.

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.