Parker-Hannifin Co. (NYSE:PH) is Clear Harbor Asset Management LLC’s 3rd Largest Position

Clear Harbor Asset Management LLC increased its position in Parker-Hannifin Co. (NYSE:PH) by 0.1% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 59,793 shares of the industrial products company’s stock after buying an additional 65 shares during the period. Parker-Hannifin accounts for about 3.1% of Clear Harbor Asset Management LLC’s holdings, making the stock its 3rd largest holding. Clear Harbor Asset Management LLC’s holdings in Parker-Hannifin were worth $37,778,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PH. Mattern Capital Management LLC lifted its position in Parker-Hannifin by 3.2% during the third quarter. Mattern Capital Management LLC now owns 12,359 shares of the industrial products company’s stock valued at $7,809,000 after buying an additional 384 shares in the last quarter. GHP Investment Advisors Inc. raised its stake in shares of Parker-Hannifin by 0.6% in the 3rd quarter. GHP Investment Advisors Inc. now owns 16,484 shares of the industrial products company’s stock valued at $10,415,000 after acquiring an additional 103 shares during the period. MCF Advisors LLC raised its stake in shares of Parker-Hannifin by 4.5% in the 3rd quarter. MCF Advisors LLC now owns 1,135 shares of the industrial products company’s stock valued at $717,000 after acquiring an additional 49 shares during the period. Wealth Enhancement Advisory Services LLC lifted its holdings in shares of Parker-Hannifin by 1.7% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 27,753 shares of the industrial products company’s stock valued at $17,535,000 after acquiring an additional 464 shares in the last quarter. Finally, NorthCrest Asset Manangement LLC boosted its position in Parker-Hannifin by 0.9% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 60,943 shares of the industrial products company’s stock worth $38,505,000 after purchasing an additional 560 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Buying and Selling at Parker-Hannifin

In other news, VP Berend Bracht sold 850 shares of Parker-Hannifin stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $592.92, for a total value of $503,982.00. Following the completion of the transaction, the vice president now directly owns 3,350 shares of the company’s stock, valued at approximately $1,986,282. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $589.73, for a total value of $1,032,617.23. Following the sale, the director now directly owns 3,900 shares in the company, valued at approximately $2,299,947. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Berend Bracht sold 850 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $592.92, for a total transaction of $503,982.00. Following the transaction, the vice president now owns 3,350 shares of the company’s stock, valued at $1,986,282. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.39% of the stock is owned by insiders.

Parker-Hannifin Price Performance

PH opened at $621.74 on Friday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.55 and a current ratio of 0.93. Parker-Hannifin Co. has a 1-year low of $362.49 and a 1-year high of $646.60. The company has a 50-day moving average of $611.33 and a 200-day moving average of $562.29. The company has a market capitalization of $80.00 billion, a P/E ratio of 28.53, a PEG ratio of 2.55 and a beta of 1.43.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, August 8th. The industrial products company reported $6.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.22 by $0.55. The firm had revenue of $5.19 billion for the quarter, compared to analysts’ expectations of $5.08 billion. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. Parker-Hannifin’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.08 earnings per share. Equities analysts expect that Parker-Hannifin Co. will post 26.68 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 8th will be issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend is Friday, November 8th. Parker-Hannifin’s dividend payout ratio is presently 29.92%.

Analyst Ratings Changes

Several research analysts have commented on the company. Barclays raised their price objective on Parker-Hannifin from $650.00 to $703.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Robert W. Baird boosted their price target on Parker-Hannifin from $622.00 to $654.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Mizuho boosted their target price on shares of Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Finally, Wells Fargo & Company raised their price target on shares of Parker-Hannifin from $640.00 to $710.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $660.57.

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.