Gabelli Funds LLC boosted its holdings in Parker-Hannifin Corporation (NYSE:PH) by 326.9% in the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 68,300 shares of the industrial products company’s stock after buying an additional 52,300 shares during the quarter. Gabelli Funds LLC owned 0.05% of Parker-Hannifin Corporation worth $11,954,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Bronfman E.L. Rothschild L.P. grew its stake in shares of Parker-Hannifin Corporation by 1.2% during the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,306 shares of the industrial products company’s stock valued at $209,000 after purchasing an additional 15 shares during the period. IHT Wealth Management LLC grew its stake in shares of Parker-Hannifin Corporation by 20.8% during the 2nd quarter. IHT Wealth Management LLC now owns 116 shares of the industrial products company’s stock valued at $119,000 after acquiring an additional 20 shares during the period. Parallel Advisors LLC grew its stake in shares of Parker-Hannifin Corporation by 4.1% during the 2nd quarter. Parallel Advisors LLC now owns 612 shares of the industrial products company’s stock valued at $102,000 after acquiring an additional 24 shares during the period. People s United Financial Inc. grew its stake in shares of Parker-Hannifin Corporation by 0.5% during the 2nd quarter. People s United Financial Inc. now owns 6,079 shares of the industrial products company’s stock valued at $972,000 after acquiring an additional 31 shares during the period. Finally, Calamos Wealth Management LLC grew its stake in shares of Parker-Hannifin Corporation by 0.4% during the 2nd quarter. Calamos Wealth Management LLC now owns 8,144 shares of the industrial products company’s stock valued at $1,302,000 after acquiring an additional 34 shares during the period. 79.64% of the stock is owned by institutional investors and hedge funds.

Shares of Parker-Hannifin Corporation (PH) opened at $182.23 on Friday. The stock has a market capitalization of $24,292.45, a P/E ratio of 20.93, a PEG ratio of 1.64 and a beta of 1.40. Parker-Hannifin Corporation has a twelve month low of $134.03 and a twelve month high of $189.83. The company has a current ratio of 1.44, a quick ratio of 0.95 and a debt-to-equity ratio of 0.87.

Parker-Hannifin Corporation (NYSE:PH) last released its quarterly earnings results on Thursday, November 2nd. The industrial products company reported $2.24 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $2.02 by $0.22. Parker-Hannifin Corporation had a return on equity of 23.61% and a net margin of 8.37%. The company had revenue of $3.36 billion for the quarter, compared to analyst estimates of $3.31 billion. During the same quarter in the prior year, the firm posted $1.61 EPS. Parker-Hannifin Corporation’s quarterly revenue was up 22.7% compared to the same quarter last year. equities research analysts predict that Parker-Hannifin Corporation will post 9.55 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Friday, December 1st. Investors of record on Friday, November 10th will be issued a dividend of $0.66 per share. The ex-dividend date of this dividend is Thursday, November 9th. This represents a $2.64 annualized dividend and a yield of 1.45%. Parker-Hannifin Corporation’s payout ratio is presently 33.93%.

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In related news, COO Lee C. Banks sold 5,286 shares of the stock in a transaction on Friday, November 3rd. The stock was sold at an average price of $186.38, for a total transaction of $985,204.68. Following the sale, the chief operating officer now owns 112,808 shares in the company, valued at approximately $21,025,155.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Robert W. Malone sold 540 shares of the stock in a transaction on Friday, November 3rd. The shares were sold at an average price of $186.37, for a total value of $100,639.80. The disclosure for this sale can be found here. Insiders have sold a total of 11,215 shares of company stock worth $1,964,758 in the last 90 days. 1.12% of the stock is currently owned by insiders.

PH has been the subject of a number of recent research reports. Stifel Nicolaus reiterated a “buy” rating and set a $189.00 price objective on shares of Parker-Hannifin Corporation in a research note on Friday, July 14th. BidaskClub downgraded Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a research note on Monday, July 24th. Jefferies Group LLC reiterated a “hold” rating and set a $163.00 price objective on shares of Parker-Hannifin Corporation in a research note on Thursday, August 3rd. Zacks Investment Research downgraded Parker-Hannifin Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, August 8th. Finally, Robert W. Baird set a $163.00 price target on Parker-Hannifin Corporation and gave the stock a “hold” rating in a report on Thursday, August 24th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and fourteen have given a buy rating to the company. Parker-Hannifin Corporation presently has an average rating of “Buy” and a consensus target price of $188.37.

Parker-Hannifin Corporation Profile

Parker-Hannifin Corporation is a manufacturer of motion and control technologies and systems, providing precision engineered solutions for a range of mobile, industrial and aerospace markets. The Company operates through segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial Segment is an aggregation of several business units, which manufacture motion-control and fluid power system components for builders and users of various types of manufacturing, packaging, processing, transportation, agricultural, construction, and military vehicles and equipment.

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Institutional Ownership by Quarter for Parker-Hannifin Corporation (NYSE:PH)

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