Parker-Hannifin Corporation $PH Shares Sold by Running Oak Capital LLC

Running Oak Capital LLC lowered its position in Parker-Hannifin Corporation (NYSE:PH) by 7.0% in the third quarter, HoldingsChannel.com reports. The fund owned 23,680 shares of the industrial products company’s stock after selling 1,776 shares during the quarter. Parker-Hannifin accounts for approximately 2.0% of Running Oak Capital LLC’s portfolio, making the stock its 9th biggest holding. Running Oak Capital LLC’s holdings in Parker-Hannifin were worth $17,953,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Quadrant Capital Group LLC raised its stake in Parker-Hannifin by 20.1% in the second quarter. Quadrant Capital Group LLC now owns 3,610 shares of the industrial products company’s stock valued at $2,521,000 after purchasing an additional 604 shares in the last quarter. Procyon Advisors LLC grew its stake in Parker-Hannifin by 158,565.9% during the third quarter. Procyon Advisors LLC now owns 5,069,374 shares of the industrial products company’s stock worth $3,843,346,000 after buying an additional 5,066,179 shares in the last quarter. Bank Julius Baer & Co. Ltd Zurich bought a new position in Parker-Hannifin in the 2nd quarter valued at about $733,000. Pacific Heights Asset Management LLC raised its position in shares of Parker-Hannifin by 3.2% in the 3rd quarter. Pacific Heights Asset Management LLC now owns 65,000 shares of the industrial products company’s stock valued at $49,280,000 after buying an additional 2,000 shares in the last quarter. Finally, Vanguard Group Inc. lifted its holdings in shares of Parker-Hannifin by 0.9% during the 2nd quarter. Vanguard Group Inc. now owns 11,125,240 shares of the industrial products company’s stock worth $7,770,646,000 after acquiring an additional 101,476 shares during the period. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on PH. Robert W. Baird set a $1,050.00 price objective on Parker-Hannifin in a research report on Friday. Wells Fargo & Company increased their target price on shares of Parker-Hannifin from $1,000.00 to $1,050.00 and gave the stock an “overweight” rating in a report on Friday. Susquehanna restated a “positive” rating and issued a $1,000.00 price target on shares of Parker-Hannifin in a research note on Wednesday, November 12th. Stifel Nicolaus upped their price objective on shares of Parker-Hannifin from $941.00 to $965.00 and gave the stock a “hold” rating in a research report on Friday. Finally, BNP Paribas Exane assumed coverage on shares of Parker-Hannifin in a research report on Thursday, December 4th. They issued an “outperform” rating and a $1,020.00 target price on the stock. Seventeen equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $990.47.

Parker-Hannifin Trading Up 1.7%

Shares of PH stock opened at $952.03 on Tuesday. Parker-Hannifin Corporation has a 1-year low of $488.45 and a 1-year high of $965.00. 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 stock has a market cap of $120.14 billion, a price-to-earnings ratio of 34.72, a PEG ratio of 3.22 and a beta of 1.25. The stock has a 50-day moving average of $899.60 and a 200-day moving average of $809.24.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data 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. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. The company had revenue of $5.17 billion for the quarter, compared to analyst estimates of $5.07 billion. During the same period in the prior year, the firm posted $6.53 EPS. The company’s quarterly revenue was up 9.1% on a year-over-year basis. On average, equities research analysts forecast that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The company also recently announced 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. This represents a $7.20 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, February 6th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 26.26%.

Insider Activity at Parker-Hannifin

In related news, COO Andrew D. Ross sold 2,488 shares of the business’s stock in a transaction dated Thursday, December 11th. The shares were sold at an average price of $894.81, for a total transaction of $2,226,287.28. Following the transaction, the chief operating officer directly owned 13,120 shares in the company, valued at approximately $11,739,907.20. The trade was a 15.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Berend Bracht sold 3,507 shares of Parker-Hannifin stock in a transaction on Wednesday, November 12th. The stock was sold at an average price of $864.58, for a total value of $3,032,082.06. Following the sale, the vice president owned 2,580 shares in the company, valued at $2,230,616.40. This trade represents a 57.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 7,432 shares of company stock valued at $6,484,116. 0.32% of the stock is owned by company 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.