Parker-Hannifin Co. (NYSE:PH) Shares Purchased by Associated Banc Corp

Associated Banc Corp grew its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 3.5% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,618 shares of the industrial products company’s stock after buying an additional 54 shares during the period. Associated Banc Corp’s holdings in Parker-Hannifin were worth $1,022,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. increased its position in shares of Parker-Hannifin by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,593,970 shares of the industrial products company’s stock worth $1,007,102,000 after acquiring an additional 59,432 shares in the last quarter. Boston Partners raised its position in shares of Parker-Hannifin by 4.1% during the 1st quarter. Boston Partners now owns 1,111,720 shares of the industrial products company’s stock valued at $617,878,000 after acquiring an additional 43,535 shares in the last quarter. Legal & General Group Plc raised its holdings in shares of Parker-Hannifin by 1.3% during the second quarter. Legal & General Group Plc now owns 985,280 shares of the industrial products company’s stock worth $498,366,000 after purchasing an additional 12,615 shares during the period. AMF Tjanstepension AB lifted 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 worth $383,594,000 after acquiring an additional 141,862 shares during the last quarter. Finally, Bank of Montreal Can boosted its position in Parker-Hannifin by 11.6% during the 2nd 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 during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Insider Activity

In other news, VP Joseph R. Leonti sold 5,877 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $631.04, for a total value of $3,708,622.08. Following the completion of the transaction, the vice president now owns 15,350 shares of the company’s stock, valued at $9,686,464. The trade was a 27.69 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO Andrew D. Ross sold 4,864 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $706.04, for a total value of $3,434,178.56. Following the sale, the chief operating officer now directly owns 13,120 shares in the company, valued at $9,263,244.80. The trade was a 27.05 % 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 in the last 90 days. 0.39% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Argus upped their target price on shares of Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Raymond James boosted their target price on shares of Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Mizuho upped their target price on Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Robert W. Baird raised their target price on Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, Barclays boosted their target price 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. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Parker-Hannifin currently has an average rating of “Moderate Buy” and an average target price of $691.40.

Parker-Hannifin Trading Down 0.3 %

Shares of Parker-Hannifin stock opened at $704.51 on Tuesday. The company’s fifty day moving average price is $649.47 and its two-hundred day moving average price is $581.74. The firm has a market capitalization of $90.68 billion, a PE ratio of 31.82, a price-to-earnings-growth ratio of 2.85 and a beta of 1.43. Parker-Hannifin Co. has a 52-week low of $426.49 and a 52-week high of $712.42. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, beating 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 company had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same period in the prior year, the company posted $5.96 EPS. The company’s revenue was up 1.2% compared to the same quarter last year. On average, analysts expect that Parker-Hannifin Co. will post 26.77 EPS for the current year.

Parker-Hannifin Dividend Announcement

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

About Parker-Hannifin

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.