Parker-Hannifin Co. (NYSE:PH) Shares Sold by Diversify Advisory Services LLC

Diversify Advisory Services LLC decreased its position in shares of Parker-Hannifin Co. (NYSE:PH) by 19.7% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 448 shares of the industrial products company’s stock after selling 110 shares during the quarter. Diversify Advisory Services LLC’s holdings in Parker-Hannifin were worth $283,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PH. State Street Corp increased its holdings in shares of Parker-Hannifin by 13.8% in the 3rd quarter. State Street Corp now owns 6,202,235 shares of the industrial products company’s stock valued at $3,918,696,000 after acquiring an additional 753,143 shares during the period. FMR LLC increased its stake in Parker-Hannifin by 7.1% in the third quarter. FMR LLC now owns 4,116,257 shares of the industrial products company’s stock valued at $2,600,733,000 after purchasing an additional 272,531 shares during the period. Geode Capital Management LLC raised its holdings in shares of Parker-Hannifin by 1.2% in the third quarter. Geode Capital Management LLC now owns 2,577,831 shares of the industrial products company’s stock valued at $1,623,689,000 after buying an additional 29,408 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Parker-Hannifin by 39.9% during the third quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company’s stock worth $1,249,645,000 after buying an additional 564,365 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of Parker-Hannifin by 3.9% during 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 buying an additional 59,432 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Insider Buying and Selling

In related news, CEO Jennifer A. Parmentier sold 4,906 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $704.69, for a total value of $3,457,209.14. Following the completion of the transaction, the chief executive officer now owns 33,607 shares of the company’s stock, valued at approximately $23,682,516.83. The trade was a 12.74 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Andrew D. Ross sold 4,864 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $706.04, for a total transaction 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. This represents a 27.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 18,077 shares of company stock worth $12,303,829 in the last ninety days. Insiders own 0.39% of the company’s stock.

Analyst Ratings Changes

PH has been the subject of several analyst reports. KeyCorp upped their price objective on Parker-Hannifin from $725.00 to $775.00 and gave the company an “overweight” rating in a research note on Thursday, November 21st. Argus increased their price target on Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Jefferies Financial Group boosted their price objective on shares of Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a research note on Friday, December 6th. StockNews.com upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Finally, Barclays lifted their target price on shares of Parker-Hannifin from $703.00 to $800.00 and gave the company an “overweight” rating in a report on Thursday, December 5th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus price target of $722.94.

Parker-Hannifin Trading Down 0.6 %

Shares of PH stock opened at $674.15 on Thursday. The stock has a market cap of $86.78 billion, a P/E ratio of 30.45, a P/E/G ratio of 2.74 and a beta of 1.45. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. Parker-Hannifin Co. has a fifty-two week low of $463.16 and a fifty-two week high of $712.42. The business has a fifty day simple moving average of $669.77 and a 200-day simple moving average of $622.37.

Parker-Hannifin (NYSE:PH) last posted its earnings results 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 net margin of 14.47% and a return on equity of 27.95%. The firm had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same period last year, the firm posted $5.96 EPS. The firm’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, analysts forecast that Parker-Hannifin Co. will post 26.73 earnings per share for the current fiscal year.

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.