Whittier Trust Co. Sells 677 Shares of Parker-Hannifin Co. (NYSE:PH)

Whittier Trust Co. trimmed its stake in shares of Parker-Hannifin Co. (NYSE:PH – Get Rating) by 25.7% in the third quarter, HoldingsChannel.com reports. The fund owned 1,960 shares of the industrial products company’s stock after selling 677 shares during the quarter. Whittier Trust Co.’s holdings in Parker-Hannifin were worth $475,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently modified their holdings of PH. Vanguard Group Inc. lifted its position in shares of Parker-Hannifin by 2.0% during the 1st quarter. Vanguard Group Inc. now owns 9,849,497 shares of the industrial products company’s stock worth $2,794,892,000 after buying an additional 190,889 shares during the last quarter. Viking Global Investors LP lifted its position in shares of Parker-Hannifin by 3.5% during the 1st quarter. Viking Global Investors LP now owns 3,165,334 shares of the industrial products company’s stock worth $898,195,000 after buying an additional 108,413 shares during the last quarter. Wellington Management Group LLP lifted its position in shares of Parker-Hannifin by 56.2% during the 1st quarter. Wellington Management Group LLP now owns 2,711,951 shares of the industrial products company’s stock worth $769,544,000 after buying an additional 976,153 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its position in shares of Parker-Hannifin by 1.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 1,990,847 shares of the industrial products company’s stock worth $564,923,000 after buying an additional 24,977 shares during the last quarter. Finally, Franklin Resources Inc. lifted its position in shares of Parker-Hannifin by 5,318.4% during the 2nd quarter. Franklin Resources Inc. now owns 1,340,617 shares of the industrial products company’s stock worth $329,859,000 after buying an additional 1,315,875 shares during the last quarter. 81.32% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several analysts recently weighed in on the company. StockNews.com downgraded Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Friday, November 4th. Deutsche Bank Aktiengesellschaft dropped their target price on Parker-Hannifin from $297.00 to $282.00 and set a “hold” rating for the company in a research report on Thursday, September 29th. TheStreet upgraded Parker-Hannifin from a “c+” rating to a “b” rating in a research report on Thursday, November 3rd. Credit Suisse Group increased their target price on Parker-Hannifin from $352.00 to $383.00 and gave the company an “outperform” rating in a research report on Friday, November 4th. Finally, Stifel Nicolaus dropped their target price on Parker-Hannifin from $325.00 to $280.00 in a research report on Tuesday, October 11th. Five analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $314.60.

Parker-Hannifin Trading Down 0.3 %

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Shares of PH stock opened at $291.00 on Monday. The stock has a market cap of $37.37 billion, a price-to-earnings ratio of 30.28, a PEG ratio of 1.29 and a beta of 1.55. The stock has a 50-day moving average of $294.75 and a 200-day moving average of $275.72. The company has a current ratio of 1.30, a quick ratio of 0.73 and a debt-to-equity ratio of 1.40. Parker-Hannifin Co. has a 1-year low of $230.44 and a 1-year high of $340.00.

Parker-Hannifin (NYSE:PH – Get Rating) last released its earnings results on Thursday, November 3rd. The industrial products company reported $4.74 EPS for the quarter, topping the consensus estimate of $4.15 by $0.59. Parker-Hannifin had a return on equity of 28.26% and a net margin of 7.67%. The business had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $3.95 billion. During the same quarter last year, the firm posted $4.26 earnings per share. The firm’s revenue was up 12.4% on a year-over-year basis. On average, equities research analysts forecast that Parker-Hannifin Co. will post 19.17 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, December 2nd. Investors of record on Monday, November 14th were paid a dividend of $1.33 per share. The ex-dividend date was Thursday, November 10th. This represents a $5.32 annualized dividend and a yield of 1.83%. Parker-Hannifin’s dividend payout ratio is currently 55.36%.

Parker-Hannifin Company Profile

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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 monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; control solutions for extreme corrosion resistance, temperatures, pressures, and precise flow; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.