Hilltop National Bank Sells 148 Shares of Parker-Hannifin Co. (NYSE:PH)

Hilltop National Bank lessened its holdings in Parker-Hannifin Co. (NYSE:PH) by 12.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,077 shares of the industrial products company’s stock after selling 148 shares during the quarter. Hilltop National Bank’s holdings in Parker-Hannifin were worth $685,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. State Street Corp boosted its stake in shares of Parker-Hannifin by 13.8% in the third quarter. State Street Corp now owns 6,202,235 shares of the industrial products company’s stock valued at $3,918,696,000 after buying an additional 753,143 shares during the period. FMR LLC raised its holdings in Parker-Hannifin by 7.1% in the 3rd quarter. FMR LLC now owns 4,116,257 shares of the industrial products company’s stock valued at $2,600,733,000 after acquiring an additional 272,531 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Parker-Hannifin by 1.2% during the 3rd quarter. Geode Capital Management LLC now owns 2,577,831 shares of the industrial products company’s stock valued at $1,623,689,000 after acquiring an additional 29,408 shares during the period. Wellington Management Group LLP grew its holdings in shares of Parker-Hannifin by 39.9% during the 3rd quarter. Wellington Management Group LLP now owns 1,977,849 shares of the industrial products company’s stock worth $1,249,645,000 after purchasing an additional 564,365 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Parker-Hannifin by 3.9% in the third quarter. Charles Schwab Investment Management Inc. now owns 1,593,970 shares of the industrial products company’s stock worth $1,007,102,000 after purchasing an additional 59,432 shares during the period. 82.44% of the stock is owned by institutional investors.

Insider Buying and Selling at Parker-Hannifin

In related news, VP Thomas C. Gentile sold 2,430 shares of the business’s stock in a transaction dated 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 transaction, the vice president now directly owns 5,465 shares in the company, valued at approximately $3,831,839.40. The trade was a 30.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Jennifer A. Parmentier sold 4,906 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $704.69, for a total value of $3,457,209.14. Following the sale, the chief executive officer now directly owns 33,607 shares of the company’s stock, valued at $23,682,516.83. The trade was a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,077 shares of company stock worth $12,303,829. Insiders own 0.39% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have issued reports on PH. Mizuho increased their price objective on shares of Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Argus increased their price target on shares of Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Wells Fargo & Company lowered their price objective on shares of Parker-Hannifin from $770.00 to $710.00 and set an “overweight” rating for the company in a research report on Tuesday. Jefferies Financial Group raised their target price on Parker-Hannifin from $765.00 to $810.00 and gave the company a “buy” rating in a report on Friday, December 6th. Finally, Robert W. Baird boosted their price target on Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Two research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $722.94.

Parker-Hannifin Trading Down 2.3 %

Shares of Parker-Hannifin stock traded down $14.53 on Friday, reaching $626.97. 132,697 shares of the company’s stock were exchanged, compared to its average volume of 465,979. Parker-Hannifin Co. has a 52 week low of $453.18 and a 52 week high of $712.42. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96. The company has a market capitalization of $80.70 billion, a P/E ratio of 28.32, a price-to-earnings-growth ratio of 2.71 and a beta of 1.45. The firm’s 50-day moving average is $673.38 and its two-hundred day moving average is $612.50.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, beating the consensus estimate of $6.14 by $0.06. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The company had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same period last year, the business posted $5.96 EPS. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. Sell-side analysts predict that Parker-Hannifin Co. will post 26.75 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 8th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend was Friday, November 8th. Parker-Hannifin’s dividend payout ratio (DPR) is 29.45%.

About Parker-Hannifin

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.