Resources Management Corp CT ADV Sells 100 Shares of Parker-Hannifin Co. (NYSE:PH)

Resources Management Corp CT ADV reduced its position in shares of Parker-Hannifin Co. (NYSE:PH) by 11.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 800 shares of the industrial products company’s stock after selling 100 shares during the quarter. Resources Management Corp CT ADV’s holdings in Parker-Hannifin were worth $505,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in PH. Continuum Advisory LLC raised its position in shares of Parker-Hannifin by 2.9% in the third quarter. Continuum Advisory LLC now owns 1,277 shares of the industrial products company’s stock valued at $891,000 after purchasing an additional 36 shares during the period. Geller Advisors LLC bought a new position in shares of Parker-Hannifin in the third quarter valued at about $222,000. Groupama Asset Managment raised its position in shares of Parker-Hannifin by 14,546.1% in the third quarter. Groupama Asset Managment now owns 132,840 shares of the industrial products company’s stock valued at $83,931,000 after purchasing an additional 131,933 shares during the period. Nomura Asset Management Co. Ltd. raised its position in shares of Parker-Hannifin by 7.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 37,800 shares of the industrial products company’s stock valued at $23,883,000 after purchasing an additional 2,495 shares during the period. Finally, Legacy Investment Solutions LLC bought a new position in shares of Parker-Hannifin in the third quarter valued at about $159,000. 82.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research firms recently commented on PH. UBS Group began coverage on shares of Parker-Hannifin in a research note on Wednesday, November 13th. They issued a “buy” rating and a $842.00 price target on the stock. Barclays upped their price target on shares of Parker-Hannifin from $703.00 to $800.00 and gave the company an “overweight” rating in a research note on Thursday, December 5th. Robert W. Baird upped their price target on shares of Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Evercore ISI upped their price target on shares of Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. Finally, Stifel Nicolaus downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating and set a $691.00 price target on the stock. in a research note on Monday, November 18th. Three investment analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to data from MarketBeat, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and an average price target of $704.88.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,430 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the vice president now owns 5,465 shares in the company, valued at approximately $3,831,839.40. This trade represents a 30.78 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Joseph R. Leonti sold 5,877 shares of the firm’s stock in a transaction that occurred 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 sale, the vice president now directly owns 15,350 shares of the company’s stock, valued at approximately $9,686,464. This trade represents a 27.69 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,077 shares of company stock worth $12,303,829. 0.39% of the stock is currently owned by insiders.

Parker-Hannifin Stock Down 1.2 %

Shares of NYSE PH opened at $677.74 on Wednesday. The company has a 50 day simple moving average of $664.54 and a 200 day simple moving average of $592.42. The firm has a market cap of $87.24 billion, a PE ratio of 30.61, a price-to-earnings-growth ratio of 2.81 and a beta of 1.44. Parker-Hannifin Co. has a 1 year low of $435.77 and a 1 year 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 issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.14 by $0.06. The business had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.90 billion. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. During the same quarter last year, the business earned $5.96 EPS. On average, research analysts forecast that Parker-Hannifin Co. will post 26.77 EPS for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 8th were issued a $1.63 dividend. The ex-dividend date was Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a yield of 0.96%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 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.