Simmons Bank Buys 19 Shares of Parker-Hannifin Co. (NYSE:PH)

Simmons Bank grew its stake in Parker-Hannifin Co. (NYSE:PH) by 0.7% in the third quarter, HoldingsChannel.com reports. The fund owned 2,753 shares of the industrial products company’s stock after acquiring an additional 19 shares during the period. Simmons Bank’s holdings in Parker-Hannifin were worth $1,739,000 at the end of the most recent quarter.

Other hedge funds have also modified their holdings of the company. International Assets Investment Management LLC lifted its holdings in 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 worth $241,279,000 after acquiring an additional 381,285 shares in the last quarter. 1832 Asset Management L.P. grew its position in shares of Parker-Hannifin by 305.0% in the 1st quarter. 1832 Asset Management L.P. now owns 307,794 shares of the industrial products company’s stock valued at $171,069,000 after purchasing an additional 231,788 shares during the period. AMF Tjanstepension AB increased its stake in Parker-Hannifin by 23.0% during the 2nd quarter. AMF Tjanstepension AB now owns 758,262 shares of the industrial products company’s stock worth $383,594,000 after purchasing an additional 141,862 shares in the last quarter. Mackenzie Financial Corp raised 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 worth $137,437,000 after buying an additional 140,898 shares during the period. Finally, Swedbank AB lifted its stake in Parker-Hannifin by 377.8% in the third quarter. Swedbank AB now owns 158,085 shares of the industrial products company’s stock valued at $99,881,000 after buying an additional 125,000 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Stock Performance

NYSE PH opened at $706.54 on Thursday. The firm has a market capitalization of $90.95 billion, a P/E ratio of 31.91, a price-to-earnings-growth ratio of 2.82 and a beta of 1.43. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. The firm’s fifty day moving average price is $628.60 and its two-hundred day moving average price is $572.14. Parker-Hannifin Co. has a 1 year low of $422.36 and a 1 year high of $711.60.

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

Parker-Hannifin Announces Dividend

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

Insider Buying and Selling

In other news, COO Andrew D. Ross sold 4,864 shares of the stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total value of $3,434,178.56. Following the transaction, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at $9,263,244.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Joseph R. Leonti sold 5,877 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $631.04, for a total value of $3,708,622.08. Following the completion of the sale, the vice president now directly owns 15,350 shares in the company, valued at $9,686,464. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Andrew D. Ross sold 4,864 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $706.04, for a total value of $3,434,178.56. Following the transaction, the chief operating officer now owns 13,120 shares in the company, valued at $9,263,244.80. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,927 shares of company stock valued at $12,807,811. 0.39% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on PH shares. Barclays raised their price objective on shares of Parker-Hannifin from $650.00 to $703.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Stifel Nicolaus lifted their price target on Parker-Hannifin from $633.00 to $691.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Raymond James boosted their price target on Parker-Hannifin from $610.00 to $650.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. Wells Fargo & Company increased their price objective on Parker-Hannifin from $640.00 to $710.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Finally, Mizuho boosted their target price on Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $688.07.

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.