Haverford Trust Co Reduces Stock Position in Parker-Hannifin Co. (NYSE:PH)

Haverford Trust Co trimmed its holdings in Parker-Hannifin Co. (NYSE:PH) by 1.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 846 shares of the industrial products company’s stock after selling 16 shares during the period. Haverford Trust Co’s holdings in Parker-Hannifin were worth $535,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Addison Advisors LLC bought a new stake in shares of Parker-Hannifin during the 2nd quarter valued at about $25,000. West Branch Capital LLC bought a new stake in Parker-Hannifin during the third quarter valued at approximately $25,000. Bangor Savings Bank grew its stake in Parker-Hannifin by 238.5% in the 3rd quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock worth $28,000 after buying an additional 31 shares in the last quarter. Fortitude Family Office LLC increased its holdings in shares of Parker-Hannifin by 346.7% in the 2nd quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company’s stock worth $34,000 after buying an additional 52 shares during the last quarter. Finally, Crewe Advisors LLC purchased a new stake in shares of Parker-Hannifin during the 1st quarter valued at $38,000. Institutional investors own 82.44% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently commented on PH. Barclays increased their target price on Parker-Hannifin from $650.00 to $703.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. KeyCorp raised their price objective on Parker-Hannifin from $640.00 to $725.00 and gave the company an “overweight” rating in a report on Monday, October 14th. Wells Fargo & Company upped their target price on Parker-Hannifin from $640.00 to $710.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Finally, StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $688.07.

Parker-Hannifin Trading Down 1.2 %

PH opened at $697.63 on Friday. Parker-Hannifin Co. has a one year low of $425.20 and a one year high of $711.60. 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 business has a 50 day simple moving average of $631.19 and a two-hundred day simple moving average of $573.08. The firm has a market capitalization of $89.80 billion, a price-to-earnings ratio of 31.51, a PEG ratio of 2.82 and a beta of 1.43.

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

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be given a $1.63 dividend. 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 dividend payout ratio is currently 29.45%.

Insider Activity

In other news, CEO Jennifer A. Parmentier sold 4,906 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $704.69, for a total value of $3,457,209.14. Following the sale, the chief executive officer now directly owns 33,607 shares of the company’s stock, valued at $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 is available through the SEC website. Also, COO Andrew D. Ross sold 4,864 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at approximately $9,263,244.80. This trade represents a 27.05 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 18,927 shares of company stock worth $12,807,811 in the last quarter. 0.39% of the stock is owned by company insiders.

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.