AGF Investments Inc. Raises Holdings in Parker-Hannifin Co. (NYSE:PH)

AGF Investments Inc. boosted its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 6.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 288,343 shares of the industrial products company’s stock after purchasing an additional 18,735 shares during the quarter. AGF Investments Inc.’s holdings in Parker-Hannifin were worth $80,626,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of PH. JFS Wealth Advisors LLC purchased a new stake in Parker-Hannifin during the 3rd quarter worth about $31,000. Parisi Gray Wealth Management acquired a new position in shares of Parker-Hannifin during the 2nd quarter worth about $55,000. Stephenson National Bank & Trust acquired a new position in shares of Parker-Hannifin during the 3rd quarter worth about $56,000. GeoWealth Management LLC acquired a new position in shares of Parker-Hannifin during the 2nd quarter worth about $69,000. Finally, Arlington Partners LLC acquired a new position in shares of Parker-Hannifin during the 3rd quarter worth about $69,000. Institutional investors own 78.21% of the company’s stock.

In other news, EVP Mark J. Hart sold 2,616 shares of the firm’s stock in a transaction on Friday, November 19th. The stock was sold at an average price of $333.40, for a total transaction of $872,174.40. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Thomas L. Williams sold 23,496 shares of the firm’s stock in a transaction on Friday, November 5th. The stock was sold at an average price of $324.33, for a total value of $7,620,457.68. The disclosure for this sale can be found here. In the last quarter, insiders have sold 32,730 shares of company stock worth $10,678,810. 1.30% of the stock is owned by insiders.

A number of brokerages recently issued reports on PH. Zacks Investment Research raised Parker-Hannifin from a “sell” rating to a “hold” rating and set a $342.00 target price for the company in a research report on Monday, November 8th. KeyCorp upped their target price on Parker-Hannifin from $375.00 to $385.00 and gave the company an “overweight” rating in a research report on Friday, November 5th. Mizuho began coverage on Parker-Hannifin in a research report on Thursday, December 16th. They issued a “neutral” rating and a $345.00 target price for the company. Credit Suisse Group upped their target price on Parker-Hannifin from $385.00 to $415.00 and gave the company an “outperform” rating in a research report on Friday, November 5th. Finally, Melius raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Tuesday, October 12th. Three 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 stock presently has an average rating of “Buy” and a consensus price target of $357.83.

NYSE PH traded down $5.88 during mid-day trading on Friday, hitting $321.91. The stock had a trading volume of 7,736 shares, compared to its average volume of 663,680. Parker-Hannifin Co. has a 52-week low of $247.41 and a 52-week high of $334.98. The company has a market cap of $41.37 billion, a price-to-earnings ratio of 22.94, a P/E/G ratio of 2.10 and a beta of 1.71. The company has a 50 day simple moving average of $318.12 and a 200 day simple moving average of $304.75. The company has a quick ratio of 1.03, a current ratio of 1.72 and a debt-to-equity ratio of 0.74.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, November 4th. The industrial products company reported $4.26 earnings per share for the quarter, beating the consensus estimate of $3.68 by $0.58. Parker-Hannifin had a return on equity of 27.02% and a net margin of 12.60%. The firm had revenue of $3.76 billion during the quarter, compared to the consensus estimate of $3.64 billion. During the same period last year, the business posted $3.07 EPS. Parker-Hannifin’s quarterly revenue was up 16.5% on a year-over-year basis. As a group, equities analysts anticipate that Parker-Hannifin Co. will post 16.98 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which was paid on Friday, December 3rd. Shareholders of record on Friday, November 12th were issued a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a yield of 1.28%. The ex-dividend date of this dividend was Wednesday, November 10th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 28.83%.

About Parker-Hannifin

Parker-Hannifin Corp. engages in the manufacture of motion and control technologies and systems. It operates through Diversified Industrial and Aerospace segments. The Diversified Industrial segment sells products to both original equipment manufacturers and distributors who serve the replacement markets in manufacturing, packaging, processing, transportation, mobile construction, refrigeration and air conditioning, agricultural and military machinery, and equipment industries.

Recommended Story: What is a blue-chip stock?

Want to see what other hedge funds are holding PH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Parker-Hannifin Co. (NYSE:PH).

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

Receive News & Ratings for Parker-Hannifin Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Parker-Hannifin and related companies with MarketBeat.com's FREE daily email newsletter.