Parker-Hannifin Co. (NYSE:PH) Shares Sold by EagleClaw Capital Managment LLC

by · The Markets Daily

EagleClaw Capital Managment LLC lowered its position in shares of Parker-Hannifin Co. (NYSE:PH – Free Report) by 2.1% in the third quarter, according to the company in its most recent filing with the SEC. The firm owned 15,610 shares of the industrial products company’s stock after selling 335 shares during the quarter. Parker-Hannifin comprises about 1.7% of EagleClaw Capital Managment LLC’s portfolio, making the stock its 17th largest position. EagleClaw Capital Managment LLC’s holdings in Parker-Hannifin were worth $9,863,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Addison Advisors LLC purchased a new stake in Parker-Hannifin in the 2nd quarter worth approximately $25,000. West Branch Capital LLC purchased a new stake in Parker-Hannifin in the 3rd quarter worth approximately $25,000. Bangor Savings Bank boosted its position in Parker-Hannifin by 238.5% in the 3rd quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 31 shares in the last quarter. Fortitude Family Office LLC boosted its position in Parker-Hannifin by 346.7% in the 2nd quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 52 shares in the last quarter. Finally, Crewe Advisors LLC purchased a new stake in Parker-Hannifin in the 1st quarter worth approximately $38,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Buying and Selling

In related news, VP Thomas C. Gentile sold 2,430 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the completion of the sale, the vice president now directly owns 5,465 shares of the company’s stock, valued at approximately $3,831,839.40. This trade represents a 30.78 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Berend Bracht sold 850 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $592.92, for a total value of $503,982.00. Following the sale, the vice president now directly 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. In the last ninety days, insiders sold 18,927 shares of company stock valued at $12,807,811. 0.39% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have commented on the company. StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, October 12th. KeyCorp increased their target price on Parker-Hannifin from $640.00 to $725.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Argus increased their target price on Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Robert W. Baird increased their target price on Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Finally, Stifel Nicolaus lowered Parker-Hannifin from a “buy” rating to a “hold” rating and set a $691.00 target price on the stock. in a research report on Monday. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $688.07.

Read Our Latest Research Report on PH

Parker-Hannifin Trading Down 0.4 %

Shares of PH traded down $3.06 during midday trading on Wednesday, reaching $686.70. The company had a trading volume of 3,647 shares, compared to its average volume of 640,437. Parker-Hannifin Co. has a 1-year low of $426.49 and a 1-year high of $711.60. The stock has a market cap of $88.39 billion, a PE ratio of 31.15, a price-to-earnings-growth ratio of 2.82 and a beta of 1.43. The firm has a 50 day simple moving average of $640.59 and a 200-day simple moving average of $577.60. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52.

Parker-Hannifin (NYSE:PH – Get Free Report) last issued its earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.14 by $0.06. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The business had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same period last year, the company earned $5.96 EPS. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. Research analysts forecast that Parker-Hannifin Co. will post 26.77 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 8th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.95%. The ex-dividend date is Friday, November 8th. Parker-Hannifin’s payout ratio is 29.45%.

Parker-Hannifin Profile

(Free Report)

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.

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