Transamerica Financial Advisors Inc. Acquires 179 Shares of Parker-Hannifin Co. (NYSE:PH)

Transamerica Financial Advisors Inc. boosted its holdings in Parker-Hannifin Co. (NYSE:PH) by 2.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 7,731 shares of the industrial products company’s stock after purchasing an additional 179 shares during the period. Transamerica Financial Advisors Inc.’s holdings in Parker-Hannifin were worth $4,885,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. BNP Paribas Financial Markets boosted its stake in shares of Parker-Hannifin by 58.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 134,612 shares of the industrial products company’s stock worth $85,051,000 after buying an additional 49,483 shares during the last quarter. Avestar Capital LLC boosted its position in Parker-Hannifin by 11.4% during the third quarter. Avestar Capital LLC now owns 645 shares of the industrial products company’s stock valued at $408,000 after purchasing an additional 66 shares during the last quarter. Brooklyn Investment Group grew its stake in Parker-Hannifin by 4.6% in the third quarter. Brooklyn Investment Group now owns 968 shares of the industrial products company’s stock valued at $612,000 after purchasing an additional 43 shares in the last quarter. FMR LLC increased its position in shares of Parker-Hannifin by 7.1% during the 3rd quarter. FMR LLC now owns 4,116,257 shares of the industrial products company’s stock worth $2,600,733,000 after purchasing an additional 272,531 shares during the last quarter. Finally, Associated Banc Corp boosted its holdings in shares of Parker-Hannifin by 3.5% in the 3rd quarter. Associated Banc Corp now owns 1,618 shares of the industrial products company’s stock valued at $1,022,000 after buying an additional 54 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Parker-Hannifin

In other news, CEO Jennifer A. Parmentier sold 4,906 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now directly owns 33,607 shares of the company’s stock, valued at approximately $23,682,516.83. This represents a 12.74 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Andrew D. Ross sold 4,864 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total value of $3,434,178.56. Following the completion of the transaction, the chief operating officer now directly owns 13,120 shares in the company, valued at $9,263,244.80. This represents a 27.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,077 shares of company stock valued at $12,303,829. 0.39% of the stock is owned by insiders.

Parker-Hannifin Price Performance

Shares of NYSE:PH traded down $1.89 during trading on Tuesday, reaching $702.53. 33,558 shares of the company traded hands, compared to its average volume of 641,294. Parker-Hannifin Co. has a 52 week low of $426.49 and a 52 week high of $712.42. The company’s 50 day moving average is $649.47 and its two-hundred day moving average is $581.74. 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 firm has a market capitalization of $90.43 billion, a PE ratio of 31.82, a PEG ratio of 2.85 and a beta of 1.43.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, beating the consensus estimate of $6.14 by $0.06. The company had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.90 billion. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the previous year, the company earned $5.96 EPS. As a group, sell-side analysts predict that Parker-Hannifin Co. will post 26.77 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 8th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date is Friday, November 8th. Parker-Hannifin’s dividend payout ratio is presently 29.45%.

Analysts Set New Price Targets

Several research analysts have recently weighed in on PH shares. UBS Group started coverage on shares of Parker-Hannifin in a research note on Wednesday, November 13th. They set a “buy” rating and a $842.00 price objective on the stock. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a report on Friday, August 9th. Wells Fargo & Company raised their target price on shares of Parker-Hannifin from $640.00 to $710.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Mizuho increased their price target on shares of Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Finally, StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat.com, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and a consensus target price of $691.40.

Parker-Hannifin Company 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.