Parker-Hannifin Co. (NYSE:PH) Shares Sold by Bank of Montreal Can

Bank of Montreal Can reduced its position in shares of Parker-Hannifin Co. (NYSE:PHGet Rating) by 5.3% during the 4th quarter, HoldingsChannel.com reports. The fund owned 371,972 shares of the industrial products company’s stock after selling 20,978 shares during the quarter. Bank of Montreal Can’s holdings in Parker-Hannifin were worth $117,223,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also added to or reduced their stakes in PH. Ellevest Inc. lifted its position in shares of Parker-Hannifin by 12.3% in the 4th quarter. Ellevest Inc. now owns 302 shares of the industrial products company’s stock worth $96,000 after acquiring an additional 33 shares during the period. Quadrant Capital Group LLC raised its holdings in Parker-Hannifin by 3.0% during the fourth quarter. Quadrant Capital Group LLC now owns 1,156 shares of the industrial products company’s stock worth $368,000 after acquiring an additional 34 shares in the last quarter. Aurora Investment Counsel raised its stake in Parker-Hannifin by 0.9% in the fourth quarter. Aurora Investment Counsel now owns 4,074 shares of the industrial products company’s stock valued at $1,296,000 after buying an additional 35 shares during the period. Patriot Financial Group Insurance Agency LLC grew its position in shares of Parker-Hannifin by 41.9% in the fourth quarter. Patriot Financial Group Insurance Agency LLC now owns 122 shares of the industrial products company’s stock valued at $39,000 after purchasing an additional 36 shares during the last quarter. Finally, Farmers & Merchants Investments Inc. grew its position in Parker-Hannifin by 48.0% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 111 shares of the industrial products company’s stock worth $35,000 after buying an additional 36 shares in the last quarter. 80.55% of the stock is owned by institutional investors.

In other news, Director James L. Wainscott acquired 2,000 shares of Parker-Hannifin stock in a transaction that occurred on Friday, May 6th. The shares were acquired at an average price of $267.78 per share, with a total value of $535,560.00. Following the completion of the purchase, the director now owns 17,280 shares of the company’s stock, valued at approximately $4,627,238.40. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director James L. Wainscott purchased 1,000 shares of the business’s stock in a transaction on Monday, May 9th. The shares were bought at an average cost of $273.44 per share, for a total transaction of $273,440.00. Following the purchase, the director now owns 18,280 shares of the company’s stock, valued at $4,998,483.20. The disclosure for this purchase can be found here. 1.47% of the stock is currently owned by corporate insiders.

A number of equities research analysts recently issued reports on PH shares. Mizuho reduced their price target on Parker-Hannifin from $305.00 to $290.00 in a research report on Friday, May 6th. Stifel Nicolaus cut their target price on Parker-Hannifin from $384.00 to $338.00 and set a “buy” rating for the company in a research note on Monday, April 18th. Deutsche Bank Aktiengesellschaft cut their target price on Parker-Hannifin from $343.00 to $335.00 and set a “hold” rating for the company in a research note on Thursday, April 14th. Barclays dropped their price target on Parker-Hannifin from $376.00 to $350.00 and set an “overweight” rating for the company in a research note on Monday, April 4th. Finally, StockNews.com assumed coverage on Parker-Hannifin in a research note on Thursday, March 31st. They issued a “buy” rating for the company. Four research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Buy” and an average price target of $356.71.

Shares of PH stock opened at $263.35 on Thursday. The business has a fifty day moving average of $278.09 and a 200 day moving average of $299.81. The firm has a market capitalization of $33.81 billion, a price-to-earnings ratio of 20.37, a price-to-earnings-growth ratio of 1.62 and a beta of 1.57. The company has a debt-to-equity ratio of 0.69, a current ratio of 1.52 and a quick ratio of 1.09. Parker-Hannifin Co. has a 1 year low of $253.85 and a 1 year high of $340.00.

Parker-Hannifin (NYSE:PHGet Rating) last issued its quarterly earnings results on Thursday, May 5th. The industrial products company reported $4.83 earnings per share for the quarter, beating analysts’ consensus estimates of $4.61 by $0.22. Parker-Hannifin had a net margin of 10.82% and a return on equity of 27.07%. The firm had revenue of $4.09 billion for the quarter, compared to analyst estimates of $4.07 billion. During the same period last year, the company posted $4.11 EPS. Parker-Hannifin’s quarterly revenue was up 9.1% compared to the same quarter last year. As a group, equities research analysts expect that Parker-Hannifin Co. will post 18.23 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 3rd. Stockholders of record on Friday, May 13th will be issued a $1.33 dividend. This represents a $5.32 dividend on an annualized basis and a dividend yield of 2.02%. This is a boost from Parker-Hannifin’s previous quarterly dividend of $1.03. The ex-dividend date of this dividend is Thursday, May 12th. Parker-Hannifin’s dividend payout ratio is presently 41.14%.

Parker-Hannifin Profile (Get Rating)

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 Company's 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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