Parker-Hannifin Co. (NYSE:PH) Shares Purchased by Vinva Investment Management Ltd

Vinva Investment Management Ltd increased its position in shares of Parker-Hannifin Co. (NYSE:PH) by 40.6% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,997 shares of the industrial products company’s stock after purchasing an additional 1,732 shares during the quarter. Vinva Investment Management Ltd’s holdings in Parker-Hannifin were worth $3,795,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Addison Advisors LLC acquired a new stake in shares of Parker-Hannifin during the second quarter worth about $25,000. West Branch Capital LLC purchased a new position in Parker-Hannifin during the third quarter valued at approximately $25,000. Bangor Savings Bank raised its position in Parker-Hannifin by 238.5% during the third quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 31 shares in the last quarter. Fortitude Family Office LLC raised its position in Parker-Hannifin by 346.7% during the second 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 purchased a new position in Parker-Hannifin during the second quarter valued at approximately $39,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Joseph R. Leonti sold 5,877 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $631.04, for a total transaction of $3,708,622.08. Following the transaction, the vice president now owns 15,350 shares of the company’s stock, valued at approximately $9,686,464. The trade was a 27.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Thomas C. Gentile sold 2,430 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total value of $1,703,818.80. Following the transaction, the vice president now directly owns 5,465 shares in the company, valued at $3,831,839.40. This trade represents a 30.78 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,077 shares of company stock valued at $12,303,829. Insiders own 0.39% of the company’s stock.

Analysts Set New Price Targets

PH has been the subject of several recent research reports. Evercore ISI lifted their price target on Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. Deutsche Bank Aktiengesellschaft lifted their price target on Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Wells Fargo & Company boosted their price objective on Parker-Hannifin from $640.00 to $710.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. KeyCorp boosted their price objective on Parker-Hannifin from $725.00 to $775.00 and gave the company an “overweight” rating in a research report on Thursday, November 21st. Finally, UBS Group began coverage on Parker-Hannifin in a research report on Wednesday, November 13th. They issued a “buy” rating and a $842.00 price objective for the company. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $691.40.

Parker-Hannifin Stock Down 1.0 %

Shares of PH opened at $699.88 on Friday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96. Parker-Hannifin Co. has a one year low of $426.49 and a one year high of $712.42. The stock has a market capitalization of $90.09 billion, a price-to-earnings ratio of 31.61, a PEG ratio of 2.82 and a beta of 1.43. The stock has a 50 day moving average price of $654.79 and a 200 day moving average price of $584.39.

Parker-Hannifin (NYSE:PH) last issued 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. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The firm had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same period in the previous year, the business earned $5.96 earnings per share. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. Equities research analysts forecast that Parker-Hannifin Co. will post 26.77 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 8th will be paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend is Friday, November 8th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 29.45%.

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.