Parker-Hannifin Corp (PH) Shares Bought by Hartford Investment Management Co.

Hartford Investment Management Co. grew its stake in Parker-Hannifin Corp (NYSE:PH) by 4.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 30,022 shares of the industrial products company’s stock after purchasing an additional 1,239 shares during the quarter. Hartford Investment Management Co.’s holdings in Parker-Hannifin were worth $5,254,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in PH. Jennison Associates LLC increased its position in Parker-Hannifin by 28.5% during the second quarter. Jennison Associates LLC now owns 6,026,440 shares of the industrial products company’s stock worth $963,146,000 after acquiring an additional 1,336,541 shares during the period. Voya Investment Management LLC increased its position in Parker-Hannifin by 1,175.0% during the second quarter. Voya Investment Management LLC now owns 1,348,381 shares of the industrial products company’s stock worth $215,499,000 after acquiring an additional 1,242,624 shares during the period. Koch Industries Inc. bought a new position in Parker-Hannifin during the second quarter worth about $521,000. PNC Financial Services Group Inc. increased its position in Parker-Hannifin by 277.9% during the second quarter. PNC Financial Services Group Inc. now owns 595,662 shares of the industrial products company’s stock worth $95,200,000 after acquiring an additional 438,035 shares during the period. Finally, Janus Henderson Group PLC increased its position in Parker-Hannifin by 2,611.4% during the second quarter. Janus Henderson Group PLC now owns 453,585 shares of the industrial products company’s stock worth $72,493,000 after acquiring an additional 436,856 shares during the period. 78.26% of the stock is currently owned by institutional investors and hedge funds.

In other news, VP Thomas C. Gentile sold 326 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The shares were sold at an average price of $181.89, for a total value of $59,296.14. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, VP Robert W. Bond sold 5,517 shares of the firm’s stock in a transaction that occurred on Friday, November 17th. The shares were sold at an average price of $181.72, for a total transaction of $1,002,549.24. Following the completion of the sale, the vice president now owns 28,265 shares in the company, valued at $5,136,315.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 24,728 shares of company stock worth $4,436,207. 1.12% of the stock is currently owned by corporate insiders.

Parker-Hannifin Corp (PH) traded down $0.44 on Friday, hitting $187.05. 718,918 shares of the stock were exchanged, compared to its average volume of 584,732. Parker-Hannifin Corp has a one year low of $139.49 and a one year high of $189.83. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 0.87. The firm has a market cap of $24,919.92, a P/E ratio of 21.48, a P/E/G ratio of 1.68 and a beta of 1.40.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, November 2nd. The industrial products company reported $2.24 earnings per share for the quarter, beating analysts’ consensus estimates of $2.02 by $0.22. Parker-Hannifin had a net margin of 8.37% and a return on equity of 23.61%. The company had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $3.31 billion. During the same period last year, the company posted $1.61 EPS. The firm’s quarterly revenue was up 22.7% compared to the same quarter last year. equities analysts predict that Parker-Hannifin Corp will post 9.56 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 10th were paid a $0.66 dividend. The ex-dividend date was Thursday, November 9th. This represents a $2.64 dividend on an annualized basis and a dividend yield of 1.41%. Parker-Hannifin’s payout ratio is currently 33.93%.

A number of equities research analysts have issued reports on PH shares. Credit Suisse Group increased their price objective on shares of Parker-Hannifin from $205.00 to $206.00 and gave the stock an “outperform” rating in a research note on Friday, November 3rd. Stifel Nicolaus reiterated a “buy” rating and set a $210.00 price objective on shares of Parker-Hannifin in a research note on Friday, November 3rd. Deutsche Bank increased their price objective on shares of Parker-Hannifin to $200.00 and gave the stock a “buy” rating in a research note on Monday, November 20th. ValuEngine upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Friday, September 1st. Finally, BMO Capital Markets reiterated a “buy” rating and set a $200.00 price objective on shares of Parker-Hannifin in a research note on Friday, October 20th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and fourteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average target price of $188.95.

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Parker-Hannifin Profile

Parker-Hannifin Corporation is a manufacturer of motion and control technologies and systems, providing precision engineered solutions for a range of mobile, industrial and aerospace markets. The Company operates through segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial Segment is an aggregation of several business units, which manufacture motion-control and fluid power system components for builders and users of various types of manufacturing, packaging, processing, transportation, agricultural, construction, and military vehicles and equipment.

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

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