Parker-Hannifin Co. (NYSE:PH) Shares Purchased by CIBC Asset Management Inc

CIBC Asset Management Inc boosted its stake in Parker-Hannifin Co. (NYSE:PH) by 3.0% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 11,682 shares of the industrial products company’s stock after acquiring an additional 341 shares during the quarter. CIBC Asset Management Inc’s holdings in Parker-Hannifin were worth $3,267,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently added to or reduced their stakes in the stock. FMR LLC lifted its holdings in Parker-Hannifin by 16.1% in the 1st quarter. FMR LLC now owns 310,712 shares of the industrial products company’s stock valued at $53,324,000 after purchasing an additional 43,094 shares in the last quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp lifted its holdings in Parker-Hannifin by 13.0% in the 2nd quarter. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp now owns 23,880 shares of the industrial products company’s stock valued at $7,334,000 after purchasing an additional 2,754 shares in the last quarter. Toronto Dominion Bank lifted its holdings in Parker-Hannifin by 9.0% in the 2nd quarter. Toronto Dominion Bank now owns 80,593 shares of the industrial products company’s stock valued at $24,751,000 after purchasing an additional 6,653 shares in the last quarter. Cambridge Investment Research Advisors Inc. lifted its holdings in Parker-Hannifin by 4.0% in the 2nd quarter. Cambridge Investment Research Advisors Inc. now owns 9,010 shares of the industrial products company’s stock valued at $2,767,000 after purchasing an additional 344 shares in the last quarter. Finally, Mercer Global Advisors Inc. ADV lifted its holdings in Parker-Hannifin by 3.7% in the 2nd quarter. Mercer Global Advisors Inc. ADV now owns 8,048 shares of the industrial products company’s stock valued at $2,472,000 after purchasing an additional 284 shares in the last quarter. 78.21% of the stock is currently owned by hedge funds and other institutional investors.

In other news, EVP Mark J. Hart sold 2,616 shares of the business’s stock in a transaction dated Friday, November 19th. The stock was sold at an average price of $333.40, for a total transaction of $872,174.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Thomas L. Williams sold 23,496 shares of the business’s stock in a transaction dated Friday, November 5th. The stock was sold at an average price of $324.33, for a total value of $7,620,457.68. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 32,730 shares of company stock valued at $10,678,810. 1.47% of the stock is currently owned by corporate insiders.

Several research analysts have recently commented on PH shares. Vertical Research started coverage on Parker-Hannifin in a report on Friday, October 8th. They set a “buy” rating and a $337.00 price target on the stock. Mizuho started coverage on Parker-Hannifin in a report on Thursday, December 16th. They set a “neutral” rating and a $345.00 price target on the stock. Melius upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Tuesday, October 12th. Wells Fargo & Company started coverage on Parker-Hannifin in a report on Thursday, October 7th. They set an “overweight” rating and a $337.00 price target on the stock. Finally, Robert W. Baird lifted their price target on Parker-Hannifin from $366.00 to $440.00 and gave the stock an “outperform” rating in a report on Friday, November 5th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Parker-Hannifin currently has a consensus rating of “Buy” and an average target price of $357.83.

NYSE PH opened at $326.93 on Friday. The company has a market cap of $42.02 billion, a P/E ratio of 22.88, a P/E/G ratio of 2.13 and a beta of 1.71. The company has a debt-to-equity ratio of 0.74, a current ratio of 1.72 and a quick ratio of 1.03. The stock has a 50-day moving average of $318.15 and a two-hundred day moving average of $304.91. Parker-Hannifin Co. has a 1-year low of $247.41 and a 1-year high of $334.98.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, November 4th. The industrial products company reported $4.26 earnings per share for the quarter, beating the consensus estimate of $3.68 by $0.58. The company had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.64 billion. Parker-Hannifin had a return on equity of 27.02% and a net margin of 12.60%. Parker-Hannifin’s revenue was up 16.5% compared to the same quarter last year. During the same period in the previous year, the company posted $3.07 EPS. On average, analysts anticipate that Parker-Hannifin Co. will post 16.98 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which was paid on Friday, December 3rd. Shareholders of record on Friday, November 12th were given a $1.03 dividend. This represents a $4.12 annualized dividend and a yield of 1.26%. The ex-dividend date of this dividend was Wednesday, November 10th. Parker-Hannifin’s dividend payout ratio is currently 28.83%.

Parker-Hannifin Company Profile

Parker-Hannifin Corp. engages in the manufacture of motion and control technologies and systems. It operates through Diversified Industrial and Aerospace segments. The Diversified Industrial segment sells products to both original equipment manufacturers and distributors who serve the replacement markets in manufacturing, packaging, processing, transportation, mobile construction, refrigeration and air conditioning, agricultural and military machinery, and equipment industries.

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

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