BCM Advisors LLC Increases Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

BCM Advisors LLC lifted its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 0.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,971 shares of the industrial products company’s stock after purchasing an additional 20 shares during the quarter. Parker-Hannifin comprises approximately 0.6% of BCM Advisors LLC’s portfolio, making the stock its 28th biggest position. BCM Advisors LLC’s holdings in Parker-Hannifin were worth $2,533,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of PH. International Assets Investment Management LLC increased its position in Parker-Hannifin by 64,081.5% during the 3rd quarter. International Assets Investment Management LLC now owns 381,880 shares of the industrial products company’s stock worth $241,279,000 after purchasing an additional 381,285 shares during the period. 1832 Asset Management L.P. boosted its stake in shares of Parker-Hannifin by 305.0% in the first quarter. 1832 Asset Management L.P. now owns 307,794 shares of the industrial products company’s stock valued at $171,069,000 after buying an additional 231,788 shares in the last quarter. AMF Tjanstepension AB raised its position in Parker-Hannifin by 23.0% in the second quarter. AMF Tjanstepension AB now owns 758,262 shares of the industrial products company’s stock worth $383,594,000 after acquiring an additional 141,862 shares in the last quarter. Mackenzie Financial Corp lifted its holdings in Parker-Hannifin by 107.7% in the second quarter. Mackenzie Financial Corp now owns 271,717 shares of the industrial products company’s stock valued at $137,437,000 after acquiring an additional 140,898 shares during the period. Finally, Swedbank AB grew its stake in shares of Parker-Hannifin by 377.8% during the 3rd quarter. Swedbank AB now owns 158,085 shares of the industrial products company’s stock worth $99,881,000 after purchasing an additional 125,000 shares during the period. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Trading Up 1.0 %

NYSE PH opened at $706.54 on Thursday. The company has a market cap of $90.95 billion, a P/E ratio of 31.91, a P/E/G ratio of 2.82 and a beta of 1.43. Parker-Hannifin Co. has a 12 month low of $422.36 and a 12 month high of $711.60. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57. The company has a 50-day moving average of $628.60 and a 200-day moving average of $572.14.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, topping the consensus estimate of $6.14 by $0.06. The firm had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.90 billion. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. Parker-Hannifin’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $5.96 earnings per share. As a group, equities analysts predict that Parker-Hannifin Co. will post 26.77 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date is Friday, November 8th. Parker-Hannifin’s payout ratio is currently 29.45%.

Wall Street Analysts Forecast Growth

PH has been the topic of a number of research analyst reports. Barclays boosted their price objective on shares of Parker-Hannifin from $650.00 to $703.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Wells Fargo & Company lifted their price objective on Parker-Hannifin from $640.00 to $710.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Evercore ISI upped their target price on Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Raymond James raised their price objective on shares of Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. Finally, Robert W. Baird upped their target price on Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a research note 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. Based on data from MarketBeat.com, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and an average target price of $688.07.

Insider Buying and Selling

In other news, COO Andrew D. Ross sold 4,864 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total value of $3,434,178.56. Following the transaction, the chief operating officer now owns 13,120 shares of the company’s stock, valued at approximately $9,263,244.80. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, COO Andrew D. Ross sold 4,864 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $706.04, for a total value of $3,434,178.56. Following the completion of the sale, the chief operating officer now owns 13,120 shares in the company, valued at approximately $9,263,244.80. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Thomas C. Gentile sold 2,430 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total value of $1,703,818.80. Following the transaction, the vice president now directly owns 5,465 shares in the company, valued at $3,831,839.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,927 shares of company stock valued at $12,807,811. 0.39% of the stock is currently owned by corporate insiders.

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.