Mathes Company Inc. Cuts Stock Position in Parker-Hannifin Co. (NYSE:PH)

Mathes Company Inc. cut its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 14.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,585 shares of the industrial products company’s stock after selling 1,614 shares during the period. Parker-Hannifin comprises about 2.1% of Mathes Company Inc.’s portfolio, making the stock its 14th biggest position. Mathes Company Inc.’s holdings in Parker-Hannifin were worth $6,056,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently bought and sold shares of PH. Vanguard Group Inc. increased its stake in shares of Parker-Hannifin by 1.0% during the first quarter. Vanguard Group Inc. now owns 10,566,391 shares of the industrial products company’s stock worth $5,872,694,000 after buying an additional 105,475 shares during the period. Boston Partners boosted its holdings in Parker-Hannifin by 4.1% in the first quarter. Boston Partners now owns 1,111,720 shares of the industrial products company’s stock valued at $617,878,000 after purchasing an additional 43,535 shares in the last quarter. Legal & General Group Plc boosted its holdings in Parker-Hannifin by 1.3% in the second quarter. Legal & General Group Plc now owns 985,280 shares of the industrial products company’s stock valued at $498,366,000 after purchasing an additional 12,615 shares in the last quarter. AMF Tjanstepension AB boosted its holdings in Parker-Hannifin by 23.0% in the second quarter. AMF Tjanstepension AB now owns 758,262 shares of the industrial products company’s stock valued at $383,594,000 after purchasing an additional 141,862 shares in the last quarter. Finally, Bank of Montreal Can boosted its holdings in Parker-Hannifin by 11.6% in the second quarter. Bank of Montreal Can now owns 735,755 shares of the industrial products company’s stock valued at $378,572,000 after purchasing an additional 76,629 shares in the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of Parker-Hannifin stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the sale, the director now directly owns 3,900 shares in the company, valued at $2,299,947. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Berend Bracht sold 850 shares of Parker-Hannifin stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $592.92, for a total value of $503,982.00. Following the completion of the transaction, the vice president now owns 3,350 shares in the company, valued at approximately $1,986,282. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph Scaminace sold 1,751 shares of Parker-Hannifin stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $589.73, for a total value of $1,032,617.23. Following the completion of the transaction, the director now owns 3,900 shares of the company’s stock, valued at approximately $2,299,947. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.39% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages recently issued reports on PH. StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Deutsche Bank Aktiengesellschaft upped their price target on Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a report on Friday, August 9th. Barclays upped their price target on Parker-Hannifin from $650.00 to $703.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Wells Fargo & Company increased their price objective on Parker-Hannifin from $640.00 to $710.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Finally, TD Cowen increased their price objective on Parker-Hannifin from $500.00 to $520.00 and gave the company a “hold” rating in a report on Wednesday, September 11th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $664.57.

Parker-Hannifin Trading Up 0.2 %

NYSE:PH opened at $635.03 on Friday. The stock has a fifty day moving average price of $615.46 and a two-hundred day moving average price of $564.90. The stock has a market capitalization of $81.71 billion, a price-to-earnings ratio of 29.14, a PEG ratio of 2.53 and a beta of 1.43. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.55 and a current ratio of 0.93. Parker-Hannifin Co. has a 1 year low of $395.00 and a 1 year high of $646.60.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.14 by $0.06. The firm had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.90 billion. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. Parker-Hannifin’s revenue was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.96 earnings per share. As a group, sell-side analysts anticipate that Parker-Hannifin Co. will post 26.68 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 8th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $6.52 annualized dividend and a dividend yield of 1.03%. Parker-Hannifin’s payout ratio is currently 29.92%.

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.