Parker-Hannifin Corporation $PH Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. decreased its stake in Parker-Hannifin Corporation (NYSE:PH) by 3.6% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,171,677 shares of the industrial products company’s stock after selling 43,865 shares during the quarter. Franklin Resources Inc. owned approximately 0.93% of Parker-Hannifin worth $888,307,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Procyon Advisors LLC lifted its stake in Parker-Hannifin by 158,565.9% in the 3rd quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock valued at $3,843,346,000 after buying an additional 5,066,179 shares in the last quarter. Norges Bank acquired a new stake in Parker-Hannifin in the 2nd quarter worth about $1,352,509,000. Canada Pension Plan Investment Board increased its stake in Parker-Hannifin by 115.7% during the 2nd quarter. Canada Pension Plan Investment Board now owns 367,904 shares of the industrial products company’s stock worth $256,970,000 after buying an additional 197,317 shares in the last quarter. Capital World Investors raised its holdings in shares of Parker-Hannifin by 7.0% during the third quarter. Capital World Investors now owns 2,584,141 shares of the industrial products company’s stock valued at $1,959,166,000 after acquiring an additional 169,073 shares during the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main raised its holdings in shares of Parker-Hannifin by 9.1% during the second quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 1,639,582 shares of the industrial products company’s stock valued at $1,145,199,000 after acquiring an additional 136,359 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

NYSE:PH opened at $949.78 on Wednesday. Parker-Hannifin Corporation has a one year low of $488.45 and a one year high of $1,034.96. The stock has a market cap of $119.88 billion, a PE ratio of 34.64, a P/E/G ratio of 3.00 and a beta of 1.23. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.66 and a current ratio of 1.18. The stock has a 50 day moving average price of $958.04 and a 200 day moving average price of $856.23.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, January 29th. The industrial products company reported $7.65 earnings per share for the quarter, topping analysts’ consensus estimates of $7.11 by $0.54. The company had revenue of $5.17 billion for 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%.The firm’s revenue for the quarter was up 9.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $6.53 earnings per share. Equities research analysts expect that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, March 6th. Stockholders of record on Friday, February 6th were given a dividend of $1.80 per share. The ex-dividend date of this dividend was Friday, February 6th. This represents a $7.20 annualized dividend and a dividend yield of 0.8%. Parker-Hannifin’s payout ratio is presently 26.26%.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the company. KeyCorp reaffirmed an “overweight” rating and issued a $1,100.00 price target on shares of Parker-Hannifin in a research note on Friday, January 30th. Stifel Nicolaus increased their price objective on Parker-Hannifin from $941.00 to $965.00 and gave the company a “hold” rating in a research note on Friday, January 30th. Robert W. Baird set a $1,050.00 price objective on Parker-Hannifin in a report on Friday, January 30th. Susquehanna reaffirmed a “positive” rating and set a $1,000.00 target price on shares of Parker-Hannifin in a research note on Wednesday, November 12th. Finally, iA Financial set a $1,032.00 target price on shares of Parker-Hannifin in a report on Thursday, January 29th. Sixteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. According to data from MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and an average price target of $995.37.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, CFO Todd M. Leombruno sold 2,062 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer directly owned 20,610 shares in the company, valued at $20,658,227.40. The trade was a 9.09% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO Andrew D. Ross sold 4,664 shares of the firm’s stock in a transaction that occurred on Wednesday, February 11th. The stock was sold at an average price of $999.00, for a total transaction of $4,659,336.00. Following the sale, the chief operating officer owned 13,120 shares of the company’s stock, valued at $13,106,880. This represents a 26.23% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 12,551 shares of company stock valued at $12,117,502 in the last three months. 0.32% of the stock is currently owned by corporate insiders.

Parker-Hannifin Profile

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.