Swiss National Bank Sells 8,300 Shares of Parker-Hannifin Co. (NYSE:PH)

Swiss National Bank decreased its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 1.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 499,030 shares of the industrial products company’s stock after selling 8,300 shares during the period. Swiss National Bank owned about 0.39% of Parker-Hannifin worth $100,974,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of PH. Viking Global Investors LP bought a new position in Parker-Hannifin during the second quarter valued at approximately $264,421,000. Nordea Investment Management AB increased its holdings in Parker-Hannifin by 113.6% during the second quarter. Nordea Investment Management AB now owns 1,027,176 shares of the industrial products company’s stock valued at $183,474,000 after buying an additional 546,242 shares during the last quarter. Principal Financial Group Inc. increased its holdings in Parker-Hannifin by 27.9% during the second quarter. Principal Financial Group Inc. now owns 1,179,943 shares of the industrial products company’s stock valued at $216,245,000 after buying an additional 257,436 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Parker-Hannifin by 25.1% during the second quarter. Bank of New York Mellon Corp now owns 1,175,528 shares of the industrial products company’s stock valued at $215,439,000 after buying an additional 235,681 shares during the last quarter. Finally, AMF Pensionsforsakring AB increased its holdings in Parker-Hannifin by 3,398.7% during the second quarter. AMF Pensionsforsakring AB now owns 241,412 shares of the industrial products company’s stock valued at $44,244,000 after buying an additional 234,512 shares during the last quarter. Institutional investors own 77.89% of the company’s stock.

A number of analysts have commented on the stock. Credit Suisse Group reaffirmed a “buy” rating on shares of Parker-Hannifin in a report on Monday, August 10th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Parker-Hannifin from $240.00 to $277.00 and gave the stock a “buy” rating in a research note on Friday, November 6th. Citigroup increased their price objective on shares of Parker-Hannifin from $200.00 to $225.00 and gave the stock a “buy” rating in a research note on Wednesday, October 7th. Wells Fargo & Company increased their price objective on shares of Parker-Hannifin from $210.00 to $245.00 and gave the stock an “overweight” rating in a research note on Friday, October 9th. Finally, BMO Capital Markets increased their price objective on shares of Parker-Hannifin from $225.00 to $275.00 in a research note on Tuesday, November 10th. One equities research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the stock. The company presently has a consensus rating of “Buy” and a consensus target price of $227.07.

PH stock opened at $263.12 on Wednesday. Parker-Hannifin Co. has a 52 week low of $93.00 and a 52 week high of $269.80. The company has a quick ratio of 0.98, a current ratio of 1.55 and a debt-to-equity ratio of 1.25. The company has a fifty day simple moving average of $224.22 and a two-hundred day simple moving average of $195.05. The firm has a market capitalization of $33.89 billion, a P/E ratio of 28.38, a price-to-earnings-growth ratio of 1.76 and a beta of 1.65.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, November 5th. The industrial products company reported $3.07 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $2.29 by $0.78. Parker-Hannifin had a net margin of 8.81% and a return on equity of 22.54%. The business had revenue of $3.23 billion during the quarter, compared to analyst estimates of $2.98 billion. During the same quarter last year, the business earned $2.76 earnings per share. Parker-Hannifin’s quarterly revenue was down 3.1% compared to the same quarter last year. As a group, analysts anticipate that Parker-Hannifin Co. will post 10.7 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Friday, November 6th will be given a dividend of $0.88 per share. The ex-dividend date is Thursday, November 5th. This represents a $3.52 annualized dividend and a yield of 1.34%. Parker-Hannifin’s dividend payout ratio (DPR) is currently 32.62%.

In other news, CFO Catherine A. Suever sold 1,745 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The shares were sold at an average price of $213.42, for a total value of $372,417.90. Following the completion of the sale, the chief financial officer now owns 36,535 shares in the company, valued at approximately $7,797,299.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP William R. Bowman sold 1,257 shares of the firm’s stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $212.13, for a total transaction of $266,647.41. Following the completion of the sale, the vice president now owns 10,349 shares of the company’s stock, valued at approximately $2,195,333.37. The disclosure for this sale can be found here. Insiders have sold 56,956 shares of company stock valued at $13,181,558 in the last quarter. 1.47% of the stock is owned by company insiders.

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 monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; control solutions for extreme corrosion resistance, temperatures, pressures, and precise flow; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.

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

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