Parker-Hannifin Co. (NYSE:PH) Shares Bought by Trustmark National Bank Trust Department

Trustmark National Bank Trust Department grew its holdings in Parker-Hannifin Co. (NYSE:PH) by 0.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,325 shares of the industrial products company’s stock after buying an additional 40 shares during the quarter. Trustmark National Bank Trust Department’s holdings in Parker-Hannifin were worth $7,787,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Acadian Asset Management LLC increased its stake in Parker-Hannifin by 458.1% in the 1st quarter. Acadian Asset Management LLC now owns 3,354 shares of the industrial products company’s stock valued at $1,862,000 after purchasing an additional 2,753 shares in the last quarter. Edgestream Partners L.P. lifted its position in Parker-Hannifin by 40.9% during the first quarter. Edgestream Partners L.P. now owns 981 shares of the industrial products company’s stock worth $545,000 after buying an additional 285 shares during the period. Clearbridge Investments LLC grew its holdings in Parker-Hannifin by 32.4% in the first quarter. Clearbridge Investments LLC now owns 2,650 shares of the industrial products company’s stock valued at $1,473,000 after purchasing an additional 649 shares during the period. Bessemer Group Inc. increased its holdings in shares of Parker-Hannifin by 162.6% during the 1st quarter. Bessemer Group Inc. now owns 10,109 shares of the industrial products company’s stock worth $5,617,000 after buying an additional 6,260 shares during the last quarter. Finally, Crewe Advisors LLC acquired a new stake in Parker-Hannifin during the first quarter worth about $38,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Parker-Hannifin

In other news, VP Berend Bracht sold 850 shares of the company’s stock in a transaction 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 sale, the vice president now owns 3,350 shares in the company, valued at $1,986,282. This represents a 20.24 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Andrew D. Ross sold 4,864 shares of the firm’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 transaction, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at $9,263,244.80. This represents a 27.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,927 shares of company stock worth $12,807,811 in the last three months. 0.39% of the stock is owned by company insiders.

Parker-Hannifin Price Performance

Shares of PH opened at $690.43 on Thursday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57. The company has a market cap of $88.87 billion, a P/E ratio of 31.18, a PEG ratio of 2.78 and a beta of 1.43. Parker-Hannifin Co. has a 12 month low of $426.49 and a 12 month high of $711.60. The stock has a fifty day moving average price of $642.71 and a 200 day moving average price of $578.38.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, topping the consensus estimate of $6.14 by $0.06. The business had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.90 billion. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The company’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.96 earnings per share. On average, research analysts forecast that Parker-Hannifin Co. will post 26.77 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be given 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 0.94%. Parker-Hannifin’s dividend payout ratio is presently 29.45%.

Analysts Set New Price Targets

PH has been the topic of a number of research reports. Mizuho raised their target price on shares of Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Wells Fargo & Company upped their target price on Parker-Hannifin from $640.00 to $710.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Barclays raised their price target on shares of Parker-Hannifin from $650.00 to $703.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. TD Cowen upped their price target on shares of Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Finally, Stifel Nicolaus lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating and set a $691.00 price objective for the company. in a report on Monday. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $688.07.

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.