Loomis Sayles & Co. L P Has $351.40 Million Position in Parker-Hannifin Co. (NYSE:PH)

Loomis Sayles & Co. L P lifted its position in Parker-Hannifin Co. (NYSE:PH) by 12.4% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 556,178 shares of the industrial products company’s stock after acquiring an additional 61,289 shares during the period. Loomis Sayles & Co. L P owned approximately 0.43% of Parker-Hannifin worth $351,404,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of PH. Addison Advisors LLC acquired a new stake in shares of Parker-Hannifin during the second quarter worth about $25,000. West Branch Capital LLC bought a new stake in shares of Parker-Hannifin during the third quarter worth $25,000. Bangor Savings Bank raised 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 worth $28,000 after acquiring an additional 31 shares during the period. Fortitude Family Office LLC lifted its position in Parker-Hannifin by 346.7% in the 2nd quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 52 shares in the last quarter. Finally, Opal Wealth Advisors LLC acquired a new position in Parker-Hannifin in the 2nd quarter worth $39,000. Institutional investors own 82.44% of the company’s stock.

Insider Buying and Selling

In other news, COO Andrew D. Ross sold 4,864 shares of Parker-Hannifin stock in a transaction on 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 sale, the chief operating officer now owns 13,120 shares in the company, valued at $9,263,244.80. The trade was a 27.05 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, VP Thomas C. Gentile sold 2,430 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the transaction, the vice president now owns 5,465 shares in the company, valued at $3,831,839.40. The trade was a 30.78 % 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 90 days. 0.39% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research firms have issued reports on PH. Barclays lifted their price target on Parker-Hannifin from $650.00 to $703.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Robert W. Baird raised their price target on shares of Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Evercore ISI boosted their price objective on shares of Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Stifel Nicolaus cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating and set a $691.00 target price for the company. in a report on Monday, November 18th. Finally, KeyCorp lifted their price target on shares of Parker-Hannifin from $725.00 to $775.00 and gave the company an “overweight” rating in a research note on Thursday. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Parker-Hannifin currently has an average rating of “Moderate Buy” and a consensus price target of $691.40.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $706.87 on Monday. The company has a market capitalization of $90.99 billion, a price-to-earnings ratio of 31.93, a PEG ratio of 2.85 and a beta of 1.43. The stock’s 50 day moving average is $647.32 and its 200-day moving average is $580.73. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. Parker-Hannifin Co. has a 12 month low of $426.49 and a 12 month high of $711.60.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, beating 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 company had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same period in the previous year, the business earned $5.96 earnings per share. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. Equities research analysts expect that Parker-Hannifin Co. will post 26.77 EPS for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 0.92%. The ex-dividend date is Friday, November 8th. Parker-Hannifin’s payout ratio is currently 29.45%.

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.