Thrivent Financial for Lutherans Decreases Position in Parker-Hannifin Co. (NYSE:PH)

Thrivent Financial for Lutherans decreased its stake in Parker-Hannifin Co. (NYSE:PH) by 11.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 522,423 shares of the industrial products company’s stock after selling 68,726 shares during the period. Thrivent Financial for Lutherans owned approximately 0.41% of Parker-Hannifin worth $175,592,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of PH. Norges Bank purchased a new stake in shares of Parker-Hannifin in the fourth quarter worth about $519,286,000. FMR LLC boosted its position in shares of Parker-Hannifin by 55.0% in the first quarter. FMR LLC now owns 3,208,980 shares of the industrial products company’s stock worth $1,078,570,000 after buying an additional 1,138,583 shares during the period. Baird Financial Group Inc. boosted its position in shares of Parker-Hannifin by 1,273.0% in the fourth quarter. Baird Financial Group Inc. now owns 524,354 shares of the industrial products company’s stock worth $152,587,000 after buying an additional 486,163 shares during the period. Great Lakes Advisors LLC purchased a new stake in shares of Parker-Hannifin in the first quarter worth about $104,039,000. Finally, Lord Abbett & CO. LLC lifted its stake in shares of Parker-Hannifin by 35.7% in the fourth quarter. Lord Abbett & CO. LLC now owns 1,171,447 shares of the industrial products company’s stock worth $340,891,000 after acquiring an additional 308,339 shares in the last quarter. Hedge funds and other institutional investors own 82.25% of the company’s stock.

Parker-Hannifin Stock Down 0.2 %

Shares of Parker-Hannifin stock opened at $405.38 on Wednesday. The company has a current ratio of 0.88, a quick ratio of 0.51 and a debt-to-equity ratio of 0.85. The business’s 50 day simple moving average is $405.60 and its 200-day simple moving average is $362.42. The stock has a market capitalization of $52.06 billion, a price-to-earnings ratio of 25.34, a PEG ratio of 1.53 and a beta of 1.52. Parker-Hannifin Co. has a twelve month low of $235.69 and a twelve month high of $428.16.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, August 3rd. The industrial products company reported $6.08 earnings per share for the quarter, topping analysts’ consensus estimates of $5.48 by $0.60. The business had revenue of $5.10 billion for the quarter, compared to analysts’ expectations of $5.01 billion. Parker-Hannifin had a return on equity of 29.26% and a net margin of 10.93%. The business’s quarterly revenue was up 21.7% on a year-over-year basis. During the same period in the prior year, the firm earned $5.16 EPS. Equities research analysts forecast that Parker-Hannifin Co. will post 22.65 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 8th. Stockholders of record on Monday, August 28th were given a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.46%. The ex-dividend date of this dividend was Friday, August 25th. Parker-Hannifin’s payout ratio is 37.00%.

Wall Street Analyst Weigh In

Several research firms recently commented on PH. Bank of America boosted their price target on Parker-Hannifin from $395.00 to $435.00 in a research note on Friday, July 14th. Barclays boosted their price target on Parker-Hannifin from $425.00 to $470.00 and gave the stock an “overweight” rating in a research note on Friday, August 4th. Argus boosted their price target on Parker-Hannifin from $390.00 to $460.00 in a research note on Friday, August 4th. Morgan Stanley boosted their price target on Parker-Hannifin from $408.00 to $448.00 and gave the stock an “equal weight” rating in a research note on Monday, August 7th. Finally, KeyCorp boosted their price target on Parker-Hannifin from $450.00 to $460.00 and gave the stock an “overweight” rating in a research note on Friday, August 4th. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $434.57.

Insider Buying and Selling

In related news, CFO Todd M. Leombruno sold 5,002 shares of the stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $416.11, for a total value of $2,081,382.22. Following the completion of the transaction, the chief financial officer now directly owns 11,656 shares of the company’s stock, valued at approximately $4,850,178.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Parker-Hannifin news, Director Linda S. Harty sold 1,487 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $424.28, for a total transaction of $630,904.36. Following the completion of the transaction, the director now directly owns 4,344 shares of the company’s stock, valued at approximately $1,843,072.32. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Todd M. Leombruno sold 5,002 shares of the stock in a transaction on Tuesday, August 29th. The shares were sold at an average price of $416.11, for a total value of $2,081,382.22. Following the transaction, the chief financial officer now directly owns 11,656 shares of the company’s stock, valued at $4,850,178.16. The disclosure for this sale can be found here. Insiders sold 11,258 shares of company stock valued at $4,705,435 in the last three months. 1.37% of the stock is currently owned by corporate insiders.

Parker-Hannifin Company Profile

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.