Parker-Hannifin Co. (NYSE:PH) Shares Acquired by State Street Corp

State Street Corp lifted its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 1.4% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 5,307,931 shares of the industrial products company’s stock after acquiring an additional 74,839 shares during the quarter. State Street Corp owned about 4.13% of Parker-Hannifin worth $1,074,007,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also bought and sold shares of the stock. Nuveen Asset Management LLC increased its position in shares of Parker-Hannifin by 6.2% in the 2nd quarter. Nuveen Asset Management LLC now owns 1,955,235 shares of the industrial products company’s stock worth $358,336,000 after purchasing an additional 114,419 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in shares of Parker-Hannifin by 1.9% during the 2nd quarter. Victory Capital Management Inc. now owns 1,478,483 shares of the industrial products company’s stock worth $270,961,000 after acquiring an additional 27,377 shares during the period. Viking Global Investors LP bought a new position in shares of Parker-Hannifin during the 2nd quarter worth about $264,421,000. Principal Financial Group Inc. increased its position in shares of Parker-Hannifin by 2.9% during the 3rd quarter. Principal Financial Group Inc. now owns 1,214,524 shares of the industrial products company’s stock worth $245,744,000 after purchasing an additional 34,581 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of Parker-Hannifin by 25.1% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,175,528 shares of the industrial products company’s stock worth $215,439,000 after purchasing an additional 235,681 shares in the last quarter. Institutional investors and hedge funds own 77.89% of the company’s stock.

In related news, CEO Thomas L. Williams sold 9,396 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, September 2nd. The shares were sold at an average price of $213.48, for a total transaction of $2,005,858.08. Following the transaction, the chief executive officer now owns 200,758 shares of the company’s stock, valued at approximately $42,857,817.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP William R. Bowman sold 1,257 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $212.13, for a total transaction of $266,647.41. Following the transaction, the vice president now directly owns 10,349 shares in the company, valued at approximately $2,195,333.37. The disclosure for this sale can be found here. Insiders have sold a total of 56,956 shares of company stock worth $13,181,558 in the last three months. 1.47% of the stock is owned by insiders.

PH has been the subject of a number of recent analyst reports. Argus increased their target price on shares of Parker-Hannifin from $210.00 to $280.00 and gave the stock a “buy” rating in a research report on Tuesday, November 10th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Parker-Hannifin from $240.00 to $277.00 and gave the stock a “buy” rating in a research report on Friday, November 6th. BMO Capital Markets increased their target price on shares of Parker-Hannifin from $225.00 to $275.00 in a research report on Tuesday, November 10th. Morgan Stanley increased their target price on shares of Parker-Hannifin from $245.00 to $280.00 and gave the stock an “overweight” rating in a research report on Friday, November 6th. Finally, Credit Suisse Group reiterated a “buy” rating on shares of Parker-Hannifin in a research report on Monday, August 10th. One analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $227.07.

Shares of NYSE:PH opened at $267.12 on Friday. Parker-Hannifin Co. has a one year low of $93.00 and a one year high of $269.80. The company has a 50 day moving average of $228.01 and a 200-day moving average of $196.98. The company has a debt-to-equity ratio of 1.25, a current ratio of 1.55 and a quick ratio of 0.98. The stock has a market cap of $34.41 billion, a price-to-earnings ratio of 28.82, a P/E/G ratio of 1.76 and a beta of 1.65.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, November 5th. The industrial products company reported $3.07 EPS for the quarter, topping the consensus estimate of $2.29 by $0.78. Parker-Hannifin had a net margin of 8.81% and a return on equity of 22.54%. The company had revenue of $3.23 billion during the quarter, compared to analysts’ expectations of $2.98 billion. During the same quarter in the previous year, the company earned $2.76 EPS. Parker-Hannifin’s revenue was down 3.1% on a year-over-year basis. Equities research analysts anticipate that Parker-Hannifin Co. will post 10.7 earnings per share for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 4th. Investors of record on Friday, November 6th will be paid a dividend of $0.88 per share. This represents a $3.52 annualized dividend and a yield of 1.32%. The ex-dividend date of this dividend is Thursday, November 5th. Parker-Hannifin’s payout ratio is 32.62%.

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 monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; control solutions for extreme corrosion resistance, temperatures, pressures, and precise flow; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.

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

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