Mesirow Financial Investment Management Inc. Buys Shares of 689 Parker-Hannifin Co. (NYSE:PH)

Mesirow Financial Investment Management Inc. purchased a new position in shares of Parker-Hannifin Co. (NYSE:PH) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 689 shares of the industrial products company’s stock, valued at approximately $436,000.

Several other hedge funds and other institutional investors have also recently made changes to their positions in PH. West Branch Capital LLC acquired a new position in shares of Parker-Hannifin in the 3rd quarter valued at $25,000. Bangor Savings Bank grew its stake in Parker-Hannifin by 238.5% during the 3rd quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 31 shares during the last quarter. Addison Advisors LLC acquired a new position in shares of Parker-Hannifin in the second quarter valued at about $25,000. Northwest Investment Counselors LLC purchased a new position in shares of Parker-Hannifin in the third quarter worth about $39,000. Finally, Fortitude Family Office LLC lifted its holdings in shares of Parker-Hannifin by 346.7% during the second 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 during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Insiders Place Their Bets

In related news, COO Andrew D. Ross sold 4,864 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $706.04, for a total transaction of $3,434,178.56. Following the transaction, the chief operating officer now owns 13,120 shares of the company’s stock, valued at $9,263,244.80. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Joseph Scaminace sold 1,751 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $589.73, for a total value of $1,032,617.23. Following the completion of the transaction, the director now directly owns 3,900 shares of the company’s stock, valued at $2,299,947. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Andrew D. Ross sold 4,864 shares of Parker-Hannifin stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $706.04, for a total value of $3,434,178.56. Following the sale, the chief operating officer now owns 13,120 shares of the company’s stock, valued at approximately $9,263,244.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 20,678 shares of company stock worth $13,840,428. Company insiders own 0.39% of the company’s stock.

Parker-Hannifin Price Performance

PH stock opened at $708.15 on Tuesday. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $91.15 billion, a P/E ratio of 31.42, a PEG ratio of 2.80 and a beta of 1.43. The business has a 50 day simple moving average of $623.97 and a 200-day simple moving average of $569.99. Parker-Hannifin Co. has a twelve month low of $415.97 and a twelve month high of $711.60.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, beating analysts’ consensus estimates of $6.14 by $0.06. The business had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.90 billion. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The business’s revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the company earned $5.96 earnings per share. As a group, equities analysts anticipate that Parker-Hannifin Co. will post 26.79 EPS for the current year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 8th will be given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend is Friday, November 8th. Parker-Hannifin’s payout ratio is 29.45%.

Analyst Ratings Changes

A number of analysts have recently weighed in on the stock. Mizuho increased their price objective on shares of Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Stifel Nicolaus lifted their price objective on Parker-Hannifin from $633.00 to $691.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Barclays upped their target price on Parker-Hannifin from $650.00 to $703.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company lifted their price target on Parker-Hannifin from $640.00 to $710.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Finally, KeyCorp upped their price objective on Parker-Hannifin from $640.00 to $725.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $673.14.

About Parker-Hannifin

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.