Buffington Mohr McNeal Boosts Holdings in Parker-Hannifin Co. (NYSE:PH)

Buffington Mohr McNeal raised its position in shares of Parker-Hannifin Co. (NYSE:PH) by 35.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 6,469 shares of the industrial products company’s stock after purchasing an additional 1,697 shares during the period. Buffington Mohr McNeal’s holdings in Parker-Hannifin were worth $4,115,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently modified their holdings of PH. State Street Corp increased its stake in Parker-Hannifin by 13.8% in the 3rd quarter. State Street Corp now owns 6,202,235 shares of the industrial products company’s stock worth $3,918,696,000 after purchasing an additional 753,143 shares during the period. Wellington Management Group LLP lifted its holdings in Parker-Hannifin by 39.9% in the 3rd quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company’s stock worth $1,249,645,000 after buying an additional 564,365 shares during the period. International Assets Investment Management LLC increased its stake in shares of Parker-Hannifin by 64,081.5% during the third quarter. International Assets Investment Management LLC now owns 381,880 shares of the industrial products company’s stock valued at $241,279,000 after buying an additional 381,285 shares during the period. World Investment Advisors LLC bought a new position in shares of Parker-Hannifin during the third quarter valued at approximately $226,570,000. Finally, Mizuho Securities USA LLC lifted its stake in Parker-Hannifin by 3,566.4% in the third quarter. Mizuho Securities USA LLC now owns 363,302 shares of the industrial products company’s stock worth $229,541,000 after acquiring an additional 353,393 shares during the period. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts have issued reports on PH shares. KeyCorp boosted their price objective on shares of Parker-Hannifin from $725.00 to $775.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Barclays boosted their price target on shares of Parker-Hannifin from $703.00 to $800.00 and gave the company an “overweight” rating in a research report on Thursday, December 5th. Robert W. Baird raised their price objective on shares of Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Finally, Argus raised their price objective on Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $722.81.

Insider Transactions at Parker-Hannifin

In related news, VP Joseph R. Leonti sold 5,877 shares of the stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $631.04, for a total transaction of $3,708,622.08. Following the completion of the sale, the vice president now owns 15,350 shares in the company, valued at approximately $9,686,464. This trade represents a 27.69 % decrease in their ownership of the stock. 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 that occurred 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 completion of the transaction, the vice president now directly owns 5,465 shares in the company, valued at approximately $3,831,839.40. This represents a 30.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,077 shares of company stock valued at $12,303,829 over the last quarter. 0.39% of the stock is currently owned by company insiders.

Parker-Hannifin Stock Down 2.5 %

Shares of Parker-Hannifin stock opened at $662.54 on Tuesday. Parker-Hannifin Co. has a twelve month low of $463.16 and a twelve month high of $712.42. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. The company’s 50 day moving average is $668.38 and its 200 day moving average is $625.84. The company has a market cap of $85.28 billion, a price-to-earnings ratio of 29.93, a price-to-earnings-growth ratio of 2.76 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, beating 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 analysts’ expectations of $4.90 billion. During the same quarter in the prior year, the business earned $5.96 earnings per share. Parker-Hannifin’s revenue for the quarter was up 1.2% compared to the same quarter last year. Research analysts anticipate that Parker-Hannifin Co. will post 26.73 EPS for the current year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 7th. Shareholders of record on Friday, February 7th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 0.98%. The ex-dividend date of this dividend is Friday, February 7th. Parker-Hannifin’s payout ratio is 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.