Commonwealth Bank of Australia increased its stake in shares of Parker-Hannifin Corp (NYSE:PH) by 5.1% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 14,510 shares of the industrial products company’s stock after purchasing an additional 700 shares during the quarter. Commonwealth Bank of Australia’s holdings in Parker-Hannifin were worth $2,662,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently bought and sold shares of the company. First Hawaiian Bank acquired a new stake in Parker-Hannifin during the third quarter worth about $125,000. Migdal Insurance & Financial Holdings Ltd. grew its holdings in Parker-Hannifin by 5,815.4% in the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 769 shares of the industrial products company’s stock valued at $120,000 after purchasing an additional 756 shares during the period. Zions Bancorporation acquired a new stake in Parker-Hannifin in the third quarter valued at approximately $161,000. Manchester Capital Management LLC grew its holdings in Parker-Hannifin by 55.9% in the second quarter. Manchester Capital Management LLC now owns 976 shares of the industrial products company’s stock valued at $152,000 after purchasing an additional 350 shares during the period. Finally, North Point Portfolio Managers Corp OH acquired a new stake in Parker-Hannifin in the third quarter valued at approximately $200,000. 78.23% of the stock is currently owned by hedge funds and other institutional investors.

In related news, VP William R. Bowman sold 2,400 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, August 29th. The stock was sold at an average price of $175.36, for a total transaction of $420,864.00. Following the transaction, the vice president now owns 1,325 shares in the company, valued at $232,352. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Joseph R. Leonti sold 1,605 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, September 5th. The stock was sold at an average price of $176.56, for a total value of $283,378.80. Following the transaction, the vice president now owns 15,731 shares in the company, valued at approximately $2,777,465.36. The disclosure for this sale can be found here. Company insiders own 1.12% of the company’s stock.

Several brokerages have commented on PH. Cowen lowered Parker-Hannifin from a “market perform” rating to an “underperform” rating in a report on Monday, October 15th. Barclays began coverage on Parker-Hannifin in a report on Thursday, September 6th. They issued an “overweight” rating and a $200.00 price objective on the stock. Deutsche Bank raised their price objective on Parker-Hannifin from $176.00 to $184.00 and gave the company a “hold” rating in a report on Friday, September 28th. Morgan Stanley dropped their price objective on Parker-Hannifin from $187.00 to $179.00 and set a “hold” rating on the stock in a report on Monday, November 5th. Finally, Wells Fargo & Co raised their price objective on Parker-Hannifin from $185.00 to $193.00 and gave the company a “market perform” rating in a report on Thursday, September 27th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $186.72.

NYSE PH opened at $167.57 on Tuesday. The company has a market capitalization of $22.67 billion, a PE ratio of 16.08, a PEG ratio of 1.31 and a beta of 1.52. Parker-Hannifin Corp has a 1-year low of $143.00 and a 1-year high of $212.80. The company has a current ratio of 1.60, a quick ratio of 1.07 and a debt-to-equity ratio of 0.71.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, November 1st. The industrial products company reported $2.84 earnings per share for the quarter, beating the consensus estimate of $2.53 by $0.31. The business had revenue of $3.48 billion for the quarter, compared to the consensus estimate of $3.54 billion. Parker-Hannifin had a return on equity of 25.49% and a net margin of 7.98%. The business’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter last year, the business posted $2.24 earnings per share. On average, research analysts predict that Parker-Hannifin Corp will post 11.61 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Friday, December 7th. Stockholders of record on Friday, November 9th will be given a $0.76 dividend. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $3.04 annualized dividend and a dividend yield of 1.81%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 29.17%.

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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 in two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment provides static and dynamic sealing devices; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; hydraulic, pneumatic, and electromechanical components and systems for builders and users of industrial and mobile machinery and equipment; and critical flow components for process instrumentation, healthcare, and ultra-high-purity applications, as well as components for use in refrigeration and air conditioning systems, and in fluid control applications for processing, fuel dispensing, beverage dispensing, and mobile emissions.

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Institutional Ownership by Quarter for Parker-Hannifin (NYSE:PH)

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