Parker-Hannifin Co. (NYSE:PH) Shares Sold by UMB Bank n.a.

UMB Bank n.a. trimmed its position in shares of Parker-Hannifin Co. (NYSE:PH) by 1.2% during the fourth quarter, Holdings Channel reports. The firm owned 57,640 shares of the industrial products company’s stock after selling 719 shares during the quarter. UMB Bank n.a.’s holdings in Parker-Hannifin were worth $36,661,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. West Branch Capital LLC acquired a new stake in Parker-Hannifin during the third quarter worth approximately $25,000. Bangor Savings Bank boosted its holdings in Parker-Hannifin by 238.5% in the third quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 31 shares during the last quarter. Prestige Wealth Management Group LLC increased its stake in Parker-Hannifin by 83.3% during the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after acquiring an additional 25 shares during the last quarter. Bank of New Hampshire acquired a new stake in Parker-Hannifin during the 4th quarter worth approximately $35,000. Finally, Northwest Investment Counselors LLC purchased a new position in Parker-Hannifin in the third quarter valued at approximately $39,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Stock Up 1.8 %

Shares of NYSE PH opened at $670.75 on Monday. Parker-Hannifin Co. has a 52-week low of $458.09 and a 52-week high of $712.42. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96. The business has a fifty day moving average of $670.95 and a two-hundred day moving average of $619.29. The stock has a market cap of $86.34 billion, a PE ratio of 30.30, a PEG ratio of 2.54 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, topping 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 firm had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same quarter in the prior year, the firm earned $5.96 EPS. The company’s revenue was up 1.2% on a year-over-year basis. As a group, equities research analysts expect that Parker-Hannifin Co. will post 26.75 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 8th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.97%. The ex-dividend date of this dividend was Friday, November 8th. Parker-Hannifin’s payout ratio is 29.45%.

Insiders Place Their Bets

In other news, CEO Jennifer A. Parmentier sold 4,906 shares of the stock in a transaction dated 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 directly owns 33,607 shares of the company’s stock, valued at $23,682,516.83. This represents a 12.74 % 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. Also, VP Joseph R. Leonti sold 5,877 shares of the business’s stock in a transaction that occurred 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 sale, the vice president now owns 15,350 shares of the company’s stock, valued at approximately $9,686,464. This represents a 27.69 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 18,077 shares of company stock worth $12,303,829. Insiders own 0.39% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on PH shares. Wells Fargo & Company dropped their price target on shares of Parker-Hannifin from $770.00 to $710.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. Robert W. Baird lifted their target price on Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. TD Cowen raised their target price on Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. Barclays increased their price objective on Parker-Hannifin from $703.00 to $800.00 and gave the stock an “overweight” rating in a report on Thursday, December 5th. Finally, Jefferies Financial Group lifted their price target on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Two investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $722.94.

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.