Commonwealth Equity Services LLC Has $3.40 Million Stake in Parker-Hannifin Corp (PH)

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Commonwealth Equity Services LLC grew its position in Parker-Hannifin Corp (NYSE:PH) by 6.4% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 18,496 shares of the industrial products company’s stock after buying an additional 1,117 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Parker-Hannifin were worth $3,402,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. First Hawaiian Bank acquired a new position in Parker-Hannifin during the 3rd quarter worth approximately $125,000. Migdal Insurance & Financial Holdings Ltd. increased its position in Parker-Hannifin by 5,815.4% during the 2nd quarter. Migdal Insurance & Financial Holdings Ltd. now owns 769 shares of the industrial products company’s stock worth $120,000 after purchasing an additional 756 shares in the last quarter. Zions Bancorporation acquired a new position in Parker-Hannifin during the 3rd quarter worth approximately $161,000. Manchester Capital Management LLC increased its position in Parker-Hannifin by 55.9% during the 2nd quarter. Manchester Capital Management LLC now owns 976 shares of the industrial products company’s stock worth $152,000 after purchasing an additional 350 shares in the last quarter. Finally, North Point Portfolio Managers Corp OH acquired a new position in Parker-Hannifin during the 3rd quarter worth approximately $200,000. Institutional investors own 78.23% of the company’s stock.

A number of research firms have weighed in on PH. ValuEngine raised shares of Parker-Hannifin from a “sell” rating to a “hold” rating in a report on Tuesday, November 6th. Morgan Stanley reduced their target price on shares of Parker-Hannifin from $187.00 to $179.00 and set a “hold” rating on the stock in a report on Monday, November 5th. Citigroup reduced their target price on shares of Parker-Hannifin from $185.00 to $178.00 and set a “neutral” rating on the stock in a report on Friday, November 2nd. Wells Fargo & Co raised shares of Parker-Hannifin from a “market perform” rating to an “outperform” rating and set a $193.00 target price on the stock in a report on Friday, November 2nd. Finally, Zacks Investment Research lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Thursday, October 18th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and ten have given a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average target price of $186.72.

In related news, VP William R. Bowman sold 2,400 shares of the stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $175.36, for a total transaction of $420,864.00. Following the transaction, the vice president now directly owns 1,325 shares of the company’s stock, valued at $232,352. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, VP Joseph R. Leonti sold 1,605 shares of the stock in a transaction on Wednesday, September 5th. The stock was sold at an average price of $176.56, for a total transaction of $283,378.80. Following the transaction, the vice president now directly owns 15,731 shares in the company, valued at $2,777,465.36. The disclosure for this sale can be found here. 1.12% of the stock is owned by corporate insiders.

NYSE:PH opened at $164.47 on Thursday. The company has a debt-to-equity ratio of 0.71, a quick ratio of 1.07 and a current ratio of 1.60. Parker-Hannifin Corp has a 52 week low of $143.00 and a 52 week high of $212.80. The firm has a market capitalization of $22.18 billion, a PE ratio of 15.78, a PEG ratio of 1.28 and a beta of 1.52.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, November 1st. The industrial products company reported $2.84 EPS for the quarter, beating the Zacks’ consensus estimate of $2.53 by $0.31. Parker-Hannifin had a net margin of 7.98% and a return on equity of 25.49%. The company had revenue of $3.48 billion for the quarter, compared to analyst estimates of $3.54 billion. During the same period in the prior year, the firm posted $2.24 EPS. The company’s quarterly revenue was up 3.4% on a year-over-year basis. Equities research analysts forecast that Parker-Hannifin Corp will post 11.61 earnings per share for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Friday, November 9th will be paid a dividend of $0.76 per share. This represents a $3.04 annualized dividend and a yield of 1.85%. The ex-dividend date is Thursday, November 8th. Parker-Hannifin’s dividend payout ratio is presently 29.17%.

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Parker-Hannifin Profile

Parker-Hannifin Corporation manufactures and sells motion and control technologies and systems for various mobile, industrial, and aerospace markets worldwide. The company operates in two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment provides static and dynamic sealing devices; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; hydraulic, pneumatic, and electromechanical components and systems for builders and users of industrial and mobile machinery and equipment; and critical flow components for process instrumentation, healthcare, and ultra-high-purity applications, as well as components for use in refrigeration and air conditioning systems, and in fluid control applications for processing, fuel dispensing, beverage dispensing, and mobile emissions.

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Institutional Ownership by Quarter for Parker-Hannifin (NYSE:PH)

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