Chevy Chase Trust Holdings Inc. Has $20.37 Million Holdings in Parker-Hannifin Corp (PH)

Chevy Chase Trust Holdings Inc. raised its stake in Parker-Hannifin Corp (NYSE:PH) by 1.2% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 116,394 shares of the industrial products company’s stock after purchasing an additional 1,347 shares during the period. Chevy Chase Trust Holdings Inc. owned about 0.09% of Parker-Hannifin worth $20,372,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of PH. Israel Discount Bank of New York raised its position in shares of Parker-Hannifin by 31.6% during the 2nd quarter. Israel Discount Bank of New York now owns 625 shares of the industrial products company’s stock worth $100,000 after acquiring an additional 150 shares in the last quarter. Parallel Advisors LLC raised its position in shares of Parker-Hannifin by 4.1% during the 2nd quarter. Parallel Advisors LLC now owns 612 shares of the industrial products company’s stock worth $102,000 after acquiring an additional 24 shares in the last quarter. IHT Wealth Management LLC raised its position in shares of Parker-Hannifin by 20.8% during the 2nd quarter. IHT Wealth Management LLC now owns 116 shares of the industrial products company’s stock worth $119,000 after acquiring an additional 20 shares in the last quarter. BT Investment Management Ltd acquired a new stake in shares of Parker-Hannifin during the 2nd quarter worth about $124,000. Finally, Sun Life Financial INC raised its position in shares of Parker-Hannifin by 8,108.3% during the 2nd quarter. Sun Life Financial INC now owns 985 shares of the industrial products company’s stock worth $157,000 after acquiring an additional 973 shares in the last quarter. 78.24% of the stock is currently owned by institutional investors.

In other Parker-Hannifin news, VP Thomas C. Gentile sold 326 shares of Parker-Hannifin stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $181.89, for a total value of $59,296.14. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Joseph R. Leonti sold 5,279 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $179.07, for a total value of $945,310.53. Following the completion of the transaction, the vice president now owns 8,032 shares in the company, valued at $1,438,290.24. The disclosure for this sale can be found here. Insiders sold a total of 22,495 shares of company stock worth $4,127,941 over the last quarter. Company insiders own 1.12% of the company’s stock.

Several equities research analysts have recently weighed in on the company. Robert W. Baird set a $163.00 target price on Parker-Hannifin and gave the stock a “hold” rating in a research report on Thursday, August 24th. ValuEngine lowered Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Tuesday, October 10th. Citigroup raised their target price on Parker-Hannifin from $175.00 to $185.00 and gave the stock a “neutral” rating in a research report on Friday, October 13th. KeyCorp reissued a “buy” rating and set a $200.00 target price on shares of Parker-Hannifin in a research report on Thursday, October 12th. Finally, Buckingham Research assumed coverage on Parker-Hannifin in a research report on Tuesday, October 17th. They set a “buy” rating and a $205.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and fourteen have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $188.95.

Shares of Parker-Hannifin Corp (NYSE PH) traded down $1.04 during mid-day trading on Tuesday, hitting $191.94. The company’s stock had a trading volume of 667,000 shares, compared to its average volume of 992,169. Parker-Hannifin Corp has a one year low of $139.49 and a one year high of $193.49. The stock has a market cap of $25,709.97, a P/E ratio of 22.16, a P/E/G ratio of 1.73 and a beta of 1.40. The company has a quick ratio of 0.95, a current ratio of 1.44 and a debt-to-equity ratio of 0.87.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, November 2nd. The industrial products company reported $2.24 earnings per share for the quarter, beating the consensus estimate of $2.02 by $0.22. Parker-Hannifin had a return on equity of 23.61% and a net margin of 8.37%. The company had revenue of $3.36 billion for the quarter, compared to the consensus estimate of $3.31 billion. During the same period last year, the business posted $1.61 EPS. The company’s revenue was up 22.7% on a year-over-year basis. research analysts expect that Parker-Hannifin Corp will post 9.56 EPS for the current year.

The business also recently announced a quarterly dividend, which was paid on Friday, December 1st. Shareholders of record on Friday, November 10th were paid a $0.66 dividend. The ex-dividend date of this dividend was Thursday, November 9th. This represents a $2.64 annualized dividend and a dividend yield of 1.38%. Parker-Hannifin’s dividend payout ratio (DPR) is currently 33.93%.

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Parker-Hannifin Company Profile

Parker-Hannifin Corporation is a manufacturer of motion and control technologies and systems, providing precision engineered solutions for a range of mobile, industrial and aerospace markets. The Company operates through segments: Diversified Industrial and Aerospace Systems. The Diversified Industrial Segment is an aggregation of several business units, which manufacture motion-control and fluid power system components for builders and users of various types of manufacturing, packaging, processing, transportation, agricultural, construction, and military vehicles and equipment.

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Institutional Ownership by Quarter for Parker-Hannifin (NYSE:PH)

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