Creative Planning Grows Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Creative Planning increased its position in shares of Parker-Hannifin Co. (NYSE:PH) by 9.9% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 28,003 shares of the industrial products company’s stock after buying an additional 2,513 shares during the quarter. Creative Planning’s holdings in Parker-Hannifin were worth $17,693,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Parker-Hannifin by 1.0% during the 1st 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 period. Boston Partners raised its position in shares of Parker-Hannifin by 4.1% during the 1st quarter. Boston Partners now owns 1,111,720 shares of the industrial products company’s stock valued at $617,878,000 after buying an additional 43,535 shares during the period. Legal & General Group Plc raised its position in shares of Parker-Hannifin by 1.3% during the 2nd quarter. Legal & General Group Plc now owns 985,280 shares of the industrial products company’s stock valued at $498,366,000 after buying an additional 12,615 shares during the period. AMF Tjanstepension AB raised its position in shares of Parker-Hannifin by 23.0% during the 2nd quarter. AMF Tjanstepension AB now owns 758,262 shares of the industrial products company’s stock valued at $383,594,000 after buying an additional 141,862 shares during the period. Finally, Bank of Montreal Can raised its position in shares of Parker-Hannifin by 11.6% during the 2nd quarter. Bank of Montreal Can now owns 735,755 shares of the industrial products company’s stock valued at $378,572,000 after buying an additional 76,629 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Insider Buying and Selling

In related news, Director Joseph Scaminace sold 1,751 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Joseph Scaminace sold 1,751 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $589.73, for a total value of $1,032,617.23. Following the completion of the sale, the director now directly owns 3,900 shares of the company’s stock, valued at $2,299,947. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Berend Bracht sold 850 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $592.92, for a total transaction 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 approximately $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. Insiders own 1.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have recently commented on PH shares. Mizuho lifted their price target 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. Wells Fargo & Company lifted their target price on shares of Parker-Hannifin from $640.00 to $710.00 and gave the company an “overweight” rating in a report on Monday, October 7th. TD Cowen lifted their target price on shares of Parker-Hannifin from $500.00 to $520.00 and gave the company a “hold” rating in a report on Wednesday, September 11th. KeyCorp lifted their target price on shares of Parker-Hannifin from $640.00 to $725.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Finally, Stifel Nicolaus lifted their target price on shares of Parker-Hannifin from $633.00 to $691.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, Parker-Hannifin has a consensus rating of “Moderate Buy” and a consensus price target of $660.57.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $639.29 on Tuesday. 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 firm has a fifty day moving average price of $607.74 and a 200 day moving average price of $560.54. The company has a market cap of $82.17 billion, a P/E ratio of 30.13, a PEG ratio of 2.61 and a beta of 1.43. Parker-Hannifin Co. has a 12 month low of $362.49 and a 12 month high of $646.60.

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

Parker-Hannifin Dividend Announcement

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 dividend of $1.63 per share. The ex-dividend date was Wednesday, August 28th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.02%. Parker-Hannifin’s payout ratio is currently 30.73%.

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.