Huntington National Bank Sells 8,759 Shares of Parker-Hannifin Corporation $PH

Huntington National Bank cut its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 5.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 156,373 shares of the industrial products company’s stock after selling 8,759 shares during the quarter. Huntington National Bank owned 0.12% of Parker-Hannifin worth $118,555,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently made changes to their positions in PH. Berkshire Asset Management LLC PA grew its position in Parker-Hannifin by 1.1% in the third quarter. Berkshire Asset Management LLC PA now owns 1,208 shares of the industrial products company’s stock worth $916,000 after acquiring an additional 13 shares in the last quarter. Bridgewater Advisors Inc. lifted its stake in Parker-Hannifin by 2.3% during the third quarter. Bridgewater Advisors Inc. now owns 567 shares of the industrial products company’s stock worth $473,000 after purchasing an additional 13 shares during the last quarter. Fidelis Capital Partners LLC boosted its holdings in shares of Parker-Hannifin by 1.3% in the 2nd quarter. Fidelis Capital Partners LLC now owns 1,071 shares of the industrial products company’s stock worth $747,000 after purchasing an additional 14 shares in the last quarter. High Net Worth Advisory Group LLC increased its position in shares of Parker-Hannifin by 0.3% during the 3rd quarter. High Net Worth Advisory Group LLC now owns 4,694 shares of the industrial products company’s stock valued at $3,559,000 after purchasing an additional 14 shares during the last quarter. Finally, Valeo Financial Advisors LLC raised its holdings in shares of Parker-Hannifin by 0.8% during the 2nd quarter. Valeo Financial Advisors LLC now owns 1,833 shares of the industrial products company’s stock valued at $1,280,000 after buying an additional 15 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

Analysts Set New Price Targets

Several analysts have issued reports on PH shares. Barclays upped their target price on Parker-Hannifin from $990.00 to $1,020.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. KeyCorp reaffirmed an “overweight” rating and issued a $1,100.00 price objective on shares of Parker-Hannifin in a research note on Friday, January 30th. iA Financial set a $1,032.00 target price on shares of Parker-Hannifin in a research report on Thursday, January 29th. Wells Fargo & Company upped their price target on shares of Parker-Hannifin from $1,000.00 to $1,050.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Finally, Morgan Stanley raised their price objective on Parker-Hannifin from $945.00 to $1,038.00 and gave the company an “equal weight” rating in a research note on Tuesday. Sixteen investment analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $995.37.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, CFO Todd M. Leombruno sold 2,062 shares of the company’s stock in a transaction on Wednesday, February 11th. The shares were sold at an average price of $1,002.34, for a total value of $2,066,825.08. Following the completion of the transaction, the chief financial officer directly owned 20,610 shares in the company, valued at approximately $20,658,227.40. This represents a 9.09% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Dinu J. Parel sold 1,316 shares of Parker-Hannifin stock in a transaction dated Monday, February 2nd. The shares were sold at an average price of $950.05, for a total transaction of $1,250,265.80. Following the sale, the vice president directly owned 6,534 shares in the company, valued at $6,207,626.70. The trade was a 16.76% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 12,551 shares of company stock worth $12,117,502. 0.32% of the stock is owned by corporate insiders.

Parker-Hannifin Stock Performance

Parker-Hannifin stock opened at $1,009.11 on Friday. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52. The firm has a market cap of $127.37 billion, a P/E ratio of 36.80, a P/E/G ratio of 3.27 and a beta of 1.25. Parker-Hannifin Corporation has a 1-year low of $488.45 and a 1-year high of $1,034.96. The firm has a 50-day moving average of $947.29 and a 200-day moving average of $843.95.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, January 29th. The industrial products company reported $7.65 EPS for the quarter, beating analysts’ consensus estimates of $7.11 by $0.54. The business had revenue of $5.17 billion during the quarter, compared to analyst estimates of $5.07 billion. Parker-Hannifin had a return on equity of 27.56% and a net margin of 17.29%.Parker-Hannifin’s quarterly revenue was up 9.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $6.53 EPS. Sell-side analysts expect that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 6th. Investors of record on Friday, February 6th will be issued a $1.80 dividend. The ex-dividend date is Friday, February 6th. This represents a $7.20 annualized dividend and a yield of 0.7%. Parker-Hannifin’s payout ratio is 26.26%.

About Parker-Hannifin

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.