Parker-Hannifin Co. (NYSE:PH) Stock Holdings Lifted by Trustmark National Bank Trust Department

Trustmark National Bank Trust Department grew its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 0.3% in the third quarter, according to its most recent filing with the SEC. The fund owned 12,325 shares of the industrial products company’s stock after acquiring an additional 40 shares during the period. Trustmark National Bank Trust Department’s holdings in Parker-Hannifin were worth $7,787,000 at the end of the most recent reporting period.

Other hedge funds have also modified their holdings of the company. West Branch Capital LLC acquired a new stake in shares of Parker-Hannifin during the third quarter valued at approximately $25,000. Bangor Savings Bank lifted its holdings in shares of Parker-Hannifin by 238.5% in the third quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 31 shares in the last quarter. Addison Advisors LLC acquired a new stake in shares of Parker-Hannifin in the second quarter worth $25,000. Northwest Investment Counselors LLC purchased a new position in shares of Parker-Hannifin during the third quarter valued at $39,000. Finally, Fortitude Family Office LLC raised its position in Parker-Hannifin by 346.7% during the second quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company’s stock valued at $34,000 after buying an additional 52 shares during the period. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Parker-Hannifin

In other news, COO Andrew D. Ross sold 4,864 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $706.04, for a total transaction of $3,434,178.56. Following the sale, the chief operating officer now directly owns 13,120 shares in the company, valued at approximately $9,263,244.80. The trade was a 27.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Berend Bracht sold 850 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $592.92, for a total value of $503,982.00. Following the completion of the transaction, the vice president now owns 3,350 shares of the company’s stock, valued at $1,986,282. The trade was a 20.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,927 shares of company stock worth $12,807,811 over the last three months. 0.39% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on PH shares. StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. KeyCorp boosted their price objective on shares of Parker-Hannifin from $640.00 to $725.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Stifel Nicolaus downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating and set a $691.00 target price for the company. in a research report on Monday. Evercore ISI boosted their price target on shares of Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Finally, Wells Fargo & Company increased 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. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $688.07.

Parker-Hannifin Trading Up 0.1 %

NYSE:PH opened at $690.43 on Thursday. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. The company’s 50 day moving average is $642.71 and its 200-day moving average is $578.38. The firm has a market cap of $88.87 billion, a price-to-earnings ratio of 31.18, a P/E/G ratio of 2.78 and a beta of 1.43. Parker-Hannifin Co. has a 12 month low of $426.49 and a 12 month high of $711.60.

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

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 8th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.94%. The ex-dividend date is Friday, November 8th. Parker-Hannifin’s dividend payout ratio is currently 29.45%.

Parker-Hannifin Company 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.