TD Private Client Wealth LLC Sells 24 Shares of Parker-Hannifin Co. (NYSE:PH)

TD Private Client Wealth LLC cut its position in shares of Parker-Hannifin Co. (NYSE:PH) by 1.6% during the 3rd quarter, HoldingsChannel reports. The firm owned 1,520 shares of the industrial products company’s stock after selling 24 shares during the period. TD Private Client Wealth LLC’s holdings in Parker-Hannifin were worth $960,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Addison Advisors LLC purchased a new stake in shares of Parker-Hannifin in the 2nd quarter worth about $25,000. West Branch Capital LLC bought a new position in shares of Parker-Hannifin in the third quarter worth approximately $25,000. Bangor Savings Bank grew its holdings in shares of Parker-Hannifin by 238.5% during the third quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock valued at $28,000 after buying an additional 31 shares during the last quarter. Prestige Wealth Management Group LLC boosted its stake in Parker-Hannifin by 83.3% during the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock valued at $35,000 after purchasing an additional 25 shares during the last quarter. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Parker-Hannifin during the third quarter valued at $39,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, 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 transaction 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 trade represents a 12.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Joseph R. Leonti sold 5,877 shares of the company’s stock in a transaction 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. Insiders have sold a total of 18,077 shares of company stock valued at $12,303,829 over the last quarter. 0.39% of the stock is owned by corporate insiders.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock opened at $671.90 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. The stock’s fifty day moving average is $668.62 and its two-hundred day moving average is $595.71. Parker-Hannifin Co. has a 52 week low of $440.00 and a 52 week high of $712.42. The company has a market capitalization of $86.49 billion, a PE ratio of 30.35, a price-to-earnings-growth ratio of 2.77 and a beta of 1.43.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results 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 analysts’ expectations of $4.90 billion. During the same period in the prior year, the business posted $5.96 earnings per share. The business’s revenue for the quarter was up 1.2% on a year-over-year basis. As a group, analysts expect that Parker-Hannifin Co. will post 26.75 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

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

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PH shares. UBS Group began coverage on shares of Parker-Hannifin in a research note on Wednesday, November 13th. They set a “buy” rating and a $842.00 target price for the company. Jefferies Financial Group lifted their price objective on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research report on Friday, December 6th. Mizuho increased their price objective on shares of Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Raymond James upped their price objective on Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. Finally, Robert W. Baird upped their target price on shares of Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $709.65.

Parker-Hannifin Profile

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.