Glenmede Trust Co. NA Sells 3,791 Shares of Parker-Hannifin Co. (NYSE:PH)

Glenmede Trust Co. NA lowered its position in Parker-Hannifin Co. (NYSE:PH) by 2.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 176,146 shares of the industrial products company’s stock after selling 3,791 shares during the quarter. Glenmede Trust Co. NA’s holdings in Parker-Hannifin were worth $111,293,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in PH. International Assets Investment Management LLC grew its position in Parker-Hannifin by 64,081.5% in the 3rd quarter. International Assets Investment Management LLC now owns 381,880 shares of the industrial products company’s stock valued at $241,279,000 after acquiring an additional 381,285 shares during the last quarter. Mizuho Securities USA LLC boosted its stake in shares of Parker-Hannifin by 3,566.4% during the third quarter. Mizuho Securities USA LLC now owns 363,302 shares of the industrial products company’s stock valued at $229,541,000 after purchasing an additional 353,393 shares during the period. FMR LLC grew its holdings in shares of Parker-Hannifin by 7.1% in the third quarter. FMR LLC now owns 4,116,257 shares of the industrial products company’s stock worth $2,600,733,000 after purchasing an additional 272,531 shares during the last quarter. AMF Tjanstepension AB increased its stake in Parker-Hannifin by 23.0% in the 2nd quarter. AMF Tjanstepension AB now owns 758,262 shares of the industrial products company’s stock worth $383,594,000 after buying an additional 141,862 shares during the period. Finally, Mackenzie Financial Corp lifted its holdings in Parker-Hannifin by 107.7% during the 2nd quarter. Mackenzie Financial Corp now owns 271,717 shares of the industrial products company’s stock valued at $137,437,000 after buying an additional 140,898 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. 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 note on Thursday, October 17th. Stifel Nicolaus cut Parker-Hannifin from a “buy” rating to a “hold” rating and set a $691.00 target price for the company. in a report on Monday, November 18th. TD Cowen increased their price target on Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Argus lifted their price objective on Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Finally, Barclays raised their target price on shares of Parker-Hannifin from $650.00 to $703.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Three investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and a consensus target price of $691.40.

Insiders Place Their Bets

In other news, CEO Jennifer A. Parmentier sold 4,906 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $704.69, for a total value of $3,457,209.14. Following the sale, the chief executive officer now directly owns 33,607 shares of the company’s stock, valued at $23,682,516.83. The trade was a 12.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Joseph R. Leonti sold 5,877 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $631.04, for a total value of $3,708,622.08. Following the completion of the transaction, the vice president now owns 15,350 shares in the company, valued at $9,686,464. The trade was a 27.69 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,077 shares of company stock worth $12,303,829. 0.39% of the stock is owned by corporate insiders.

Parker-Hannifin Price Performance

Shares of PH opened at $706.92 on Wednesday. The company has a market capitalization of $90.99 billion, a P/E ratio of 31.93, a P/E/G ratio of 2.84 and a beta of 1.43. The business’s 50-day moving average is $651.50 and its two-hundred day moving average is $582.76. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96. Parker-Hannifin Co. has a fifty-two week low of $426.49 and a fifty-two week high of $712.42.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.14 by $0.06. The firm had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.90 billion. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The firm’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm posted $5.96 earnings per share. Research analysts predict that Parker-Hannifin Co. will post 26.77 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 8th will be given a dividend of $1.63 per share. The ex-dividend date is Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a yield of 0.92%. Parker-Hannifin’s dividend payout ratio is currently 29.45%.

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.