Fiduciary Trust Co Sells 210 Shares of Parker-Hannifin Co. (NYSE:PH)

Fiduciary Trust Co reduced its stake in Parker-Hannifin Co. (NYSE:PH) by 1.3% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,947 shares of the industrial products company’s stock after selling 210 shares during the period. Fiduciary Trust Co’s holdings in Parker-Hannifin were worth $10,076,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of PH. Wilkinson Global Asset Management LLC grew its holdings in Parker-Hannifin by 59.1% during the 3rd quarter. Wilkinson Global Asset Management LLC now owns 39,093 shares of the industrial products company’s stock worth $24,700,000 after acquiring an additional 14,526 shares in the last quarter. Banco Santander S.A. lifted its position in shares of Parker-Hannifin by 11.9% in the 3rd quarter. Banco Santander S.A. now owns 14,478 shares of the industrial products company’s stock worth $9,147,000 after purchasing an additional 1,544 shares during the period. Swedbank AB bought a new position in shares of Parker-Hannifin during the first quarter valued at approximately $20,140,000. Ritholtz Wealth Management increased its holdings in Parker-Hannifin by 88.4% during the third quarter. Ritholtz Wealth Management now owns 1,473 shares of the industrial products company’s stock valued at $931,000 after buying an additional 691 shares during the period. Finally, Cetera Investment Advisers raised its stake in Parker-Hannifin by 98.6% in the first quarter. Cetera Investment Advisers now owns 45,124 shares of the industrial products company’s stock worth $25,079,000 after buying an additional 22,407 shares in the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Parker-Hannifin

In other news, VP Joseph R. Leonti sold 5,877 shares of the company’s stock in a transaction dated 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 sale, the vice president now owns 15,350 shares in the company, valued at $9,686,464. This represents a 27.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jennifer A. Parmentier sold 4,906 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $704.69, for a total value of $3,457,209.14. Following the transaction, the chief executive officer now owns 33,607 shares of the company’s stock, valued at approximately $23,682,516.83. This represents a 12.74 % 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 worth $12,303,829 over the last 90 days. 0.39% of the stock is currently owned by company insiders.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $699.71 on Thursday. The business has a fifty day moving average of $653.32 and a 200 day moving average of $583.58. Parker-Hannifin Co. has a 1 year low of $426.49 and a 1 year high of $712.42. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57. The firm has a market capitalization of $90.07 billion, a price-to-earnings ratio of 31.60, a price-to-earnings-growth ratio of 2.84 and a beta of 1.43.

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

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend is Friday, November 8th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 29.45%.

Wall Street Analyst Weigh In

PH has been the topic of several recent research reports. Deutsche Bank Aktiengesellschaft increased their target price on Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Raymond James lifted their target price on Parker-Hannifin from $610.00 to $650.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. Wells Fargo & Company increased their price target on shares of Parker-Hannifin from $640.00 to $710.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. TD Cowen lifted their price objective on shares of Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Finally, Mizuho increased their target price on shares of Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $691.40.

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.