Canada Pension Plan Investment Board boosted its position in shares of Parker-Hannifin Corp (NYSE:PH) by 61.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 58,713 shares of the industrial products company’s stock after buying an additional 22,302 shares during the period. Canada Pension Plan Investment Board’s holdings in Parker-Hannifin were worth $10,799,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. grew its stake in Parker-Hannifin by 5,815.4% during the second quarter. Migdal Insurance & Financial Holdings Ltd. now owns 769 shares of the industrial products company’s stock worth $120,000 after buying an additional 756 shares in the last quarter. First Hawaiian Bank acquired a new stake in Parker-Hannifin during the third quarter worth about $125,000. Manchester Capital Management LLC grew its stake in Parker-Hannifin by 55.9% during the second quarter. Manchester Capital Management LLC now owns 976 shares of the industrial products company’s stock worth $152,000 after buying an additional 350 shares in the last quarter. Zions Bancorporation acquired a new stake in Parker-Hannifin during the third quarter worth about $161,000. Finally, Signaturefd LLC grew its stake in Parker-Hannifin by 48.3% during the second quarter. Signaturefd LLC now owns 1,108 shares of the industrial products company’s stock worth $173,000 after buying an additional 361 shares in the last quarter. Hedge funds and other institutional investors own 79.67% of the company’s stock.

A number of research firms have recently commented on PH. Gordon Haskett began coverage on shares of Parker-Hannifin in a report on Friday, October 12th. They issued a “sell” rating for the company. ValuEngine raised shares of Parker-Hannifin from a “sell” rating to a “hold” rating in a report on Tuesday, November 6th. Citigroup dropped their target price on shares of Parker-Hannifin from $185.00 to $178.00 and set a “neutral” rating for the company in a report on Friday, November 2nd. Morgan Stanley dropped their target price on shares of Parker-Hannifin from $187.00 to $179.00 and set a “hold” rating for the company in a report on Monday, November 5th. Finally, Barclays began coverage on shares of Parker-Hannifin in a report on Thursday, September 6th. They issued an “overweight” rating and a $200.00 target price for the company. Two analysts have rated the stock with a sell rating, nine have given a hold rating and ten have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus target price of $186.72.

Shares of NYSE PH opened at $166.47 on Thursday. The company has a market capitalization of $22.77 billion, a P/E ratio of 15.98, a price-to-earnings-growth ratio of 1.34 and a beta of 1.56. Parker-Hannifin Corp has a 1 year low of $143.00 and a 1 year high of $212.80. The company has a debt-to-equity ratio of 0.71, a current ratio of 1.60 and a quick ratio of 1.07.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, November 1st. The industrial products company reported $2.84 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.53 by $0.31. The business had revenue of $3.48 billion during the quarter, compared to analyst estimates of $3.54 billion. Parker-Hannifin had a net margin of 7.98% and a return on equity of 25.49%. The firm’s quarterly revenue was up 3.4% on a year-over-year basis. During the same quarter last year, the business earned $2.24 EPS. Analysts forecast that Parker-Hannifin Corp will post 11.61 earnings per share for the current fiscal year.

The firm also recently disclosed 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 is Thursday, November 8th. This represents a $3.04 dividend on an annualized basis and a yield of 1.83%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 29.17%.

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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 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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