Parker-Hannifin Corp (PH) Shares Bought by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. increased its holdings in shares of Parker-Hannifin Corp (NYSE:PH) by 2.3% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 97,546 shares of the industrial products company’s stock after purchasing an additional 2,194 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.07% of Parker-Hannifin worth $17,071,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in the stock. Emerald Advisers Inc. PA purchased a new position in Parker-Hannifin during the 3rd quarter valued at approximately $1,527,000. Tredje AP fonden boosted its holdings in shares of Parker-Hannifin by 146.9% in the 2nd quarter. Tredje AP fonden now owns 13,578 shares of the industrial products company’s stock worth $2,170,000 after purchasing an additional 8,078 shares during the period. Koch Industries Inc. purchased a new position in shares of Parker-Hannifin in the 2nd quarter worth approximately $521,000. Sand Hill Global Advisors LLC purchased a new position in shares of Parker-Hannifin in the 2nd quarter worth approximately $4,194,000. Finally, Chicago Equity Partners LLC boosted its holdings in shares of Parker-Hannifin by 4.6% in the 2nd quarter. Chicago Equity Partners LLC now owns 66,375 shares of the industrial products company’s stock worth $10,608,000 after purchasing an additional 2,930 shares during the period. Hedge funds and other institutional investors own 78.24% of the company’s stock.

A number of equities analysts have recently commented on PH shares. Zacks Investment Research cut Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Tuesday, August 8th. Jefferies Group reaffirmed a “hold” rating and set a $165.00 target price (up from $163.00) on shares of Parker-Hannifin in a research report on Wednesday, August 9th. BidaskClub lowered Parker-Hannifin from a “hold” rating to a “sell” rating in a research report on Thursday, August 10th. Robert W. Baird set a $163.00 price target on Parker-Hannifin and gave the company a “hold” rating in a report on Thursday, August 24th. Finally, ValuEngine upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Friday, September 1st. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the company’s stock. Parker-Hannifin presently has a consensus rating of “Buy” and an average target price of $188.95.

In other news, Director Candy M. Obourn sold 1,241 shares of the business’s stock in a transaction dated Friday, September 8th. The stock was sold at an average price of $161.46, for a total value of $200,371.86. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Lee C. Banks sold 5,286 shares of the business’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $186.38, for a total value of $985,204.68. Following the completion of the transaction, the chief operating officer now directly owns 112,808 shares of the company’s stock, valued at approximately $21,025,155.04. The disclosure for this sale can be found here. In the last three months, insiders sold 24,320 shares of company stock valued at $4,370,641. Insiders own 1.12% of the company’s stock.

Parker-Hannifin Corp (NYSE:PH) traded down $1.54 during trading on Wednesday, reaching $184.31. The company’s stock had a trading volume of 717,500 shares, compared to its average volume of 992,836. 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 stock has a market cap of $24,760.07, a P/E ratio of 21.34, a PEG ratio of 1.67 and a beta of 1.40. Parker-Hannifin Corp has a twelve month low of $139.49 and a twelve month high of $190.00.

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 the Thomson Reuters’ consensus estimate of $2.02 by $0.22. The business had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $3.31 billion. Parker-Hannifin had a return on equity of 23.61% and a net margin of 8.37%. The company’s quarterly revenue was up 22.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.61 EPS. analysts expect that Parker-Hannifin Corp will post 9.56 EPS for the current fiscal year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, December 1st. Stockholders of record on Friday, November 10th were issued a $0.66 dividend. The ex-dividend date of this dividend was Thursday, November 9th. This represents a $2.64 annualized dividend and a dividend yield of 1.43%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 33.93%.

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Parker-Hannifin Company 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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