Aviance Capital Partners LLC purchased a new stake in shares of Parker-Hannifin Corp (NYSE:PH) during the 3rd quarter, Holdings Channel reports. The firm purchased 1,100 shares of the industrial products company’s stock, valued at approximately $202,000.

Other institutional investors have also recently bought and sold shares of the company. First Hawaiian Bank purchased a new stake in Parker-Hannifin during the 3rd quarter valued at about $125,000. Migdal Insurance & Financial Holdings Ltd. grew its stake in Parker-Hannifin by 5,815.4% during the 2nd 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 last quarter. Zions Bancorporation purchased a new stake in Parker-Hannifin during the 3rd quarter valued at about $161,000. Manchester Capital Management LLC grew its stake in Parker-Hannifin by 55.9% during the 2nd 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 last quarter. Finally, North Point Portfolio Managers Corp OH purchased a new stake in Parker-Hannifin during the 3rd quarter valued at about $200,000. Institutional investors and hedge funds own 78.23% of the company’s stock.

Several brokerages have recently issued reports on PH. Stifel Nicolaus boosted their price objective on Parker-Hannifin from $200.00 to $212.00 and gave the company a “buy” rating in a report on Monday, September 24th. Buckingham Research raised Parker-Hannifin from a “neutral” rating to a “buy” rating in a report on Friday, September 14th. Robert W. Baird set a $190.00 price objective on Parker-Hannifin and gave the company a “buy” rating in a report on Thursday, August 2nd. Zacks Investment Research raised Parker-Hannifin from a “hold” rating to a “buy” rating and set a $187.00 price objective for the company in a report on Tuesday, October 16th. Finally, Morgan Stanley began coverage on Parker-Hannifin in a report on Monday, August 20th. They issued an “equal weight” rating and a $185.00 price objective for the company. Two analysts have rated the stock with a sell rating, nine have given a hold rating and ten have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $186.72.

In related news, VP William R. Bowman sold 2,400 shares of the company’s stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $175.36, for a total value of $420,864.00. Following the completion of the transaction, the vice president now owns 1,325 shares of the company’s stock, valued at approximately $232,352. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Joseph R. Leonti sold 1,605 shares of the company’s stock in a transaction dated Wednesday, September 5th. The stock was sold at an average price of $176.56, for a total value of $283,378.80. Following the completion of the transaction, the vice president now directly owns 15,731 shares of the company’s stock, valued at approximately $2,777,465.36. The disclosure for this sale can be found here. Corporate insiders own 1.12% of the company’s stock.

NYSE PH opened at $163.71 on Wednesday. The stock has a market capitalization of $22.67 billion, a P/E ratio of 15.71, a price-to-earnings-growth ratio of 1.31 and a beta of 1.52. Parker-Hannifin Corp has a twelve month low of $143.00 and a twelve month high of $212.80. The company has a quick ratio of 1.07, a current ratio of 1.60 and a debt-to-equity ratio of 0.71.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, November 1st. The industrial products company reported $2.84 earnings per share for the quarter, topping analysts’ consensus estimates of $2.53 by $0.31. The company had revenue of $3.48 billion during the quarter, compared to analysts’ expectations of $3.54 billion. Parker-Hannifin had a return on equity of 25.49% and a net margin of 7.98%. Parker-Hannifin’s quarterly revenue was up 3.4% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $2.24 EPS. As a group, equities research analysts expect that Parker-Hannifin Corp will post 11.61 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 7th. Investors of record on Friday, November 9th will be issued a $0.76 dividend. The ex-dividend date of this dividend is Thursday, November 8th. This represents a $3.04 dividend on an annualized basis and a yield of 1.86%. Parker-Hannifin’s payout ratio is 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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