Mission Creek Capital Partners Inc. Sells 35 Shares of Parker-Hannifin Co. (NYSE:PH)

Mission Creek Capital Partners Inc. cut its stake in Parker-Hannifin Co. (NYSE:PH) by 3.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 965 shares of the industrial products company’s stock after selling 35 shares during the quarter. Mission Creek Capital Partners Inc.’s holdings in Parker-Hannifin were worth $610,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. West Branch Capital LLC bought a new position in Parker-Hannifin during the 3rd quarter valued at about $25,000. Bangor Savings Bank grew its holdings 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 bought a new position in Parker-Hannifin during the 2nd quarter valued at about $25,000. Northwest Investment Counselors LLC bought a new position in Parker-Hannifin during the 3rd quarter valued at about $39,000. Finally, Opal Wealth Advisors LLC bought a new position in Parker-Hannifin during the 2nd quarter valued at about $39,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages recently commented on PH. Wells Fargo & Company upped their price target on shares of Parker-Hannifin from $640.00 to $710.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Barclays upped their target price on shares of Parker-Hannifin from $650.00 to $703.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft upped their target price on shares of Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. KeyCorp upped their target price on shares of Parker-Hannifin from $725.00 to $775.00 and gave the stock an “overweight” rating in a research note on Thursday, November 21st. Finally, Raymond James upped their target price on shares of Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $691.40.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Joseph R. Leonti sold 5,877 shares of the firm’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $631.04, for a total value of $3,708,622.08. Following the completion of the transaction, the vice president now owns 15,350 shares of the company’s stock, valued at approximately $9,686,464. This trade represents a 27.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Thomas C. Gentile sold 2,430 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the completion of the sale, the vice president now owns 5,465 shares in the company, valued at $3,831,839.40. The trade was a 30.78 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,077 shares of company stock valued at $12,303,829. Insiders own 0.39% of the company’s stock.

Parker-Hannifin Trading Down 0.6 %

NYSE:PH opened at $696.56 on Thursday. Parker-Hannifin Co. has a 52 week low of $431.98 and a 52 week high of $712.42. The firm has a 50 day moving average of $661.02 and a 200 day moving average of $588.91. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $89.66 billion, a price-to-earnings ratio of 31.46, a PEG ratio of 2.83 and a beta of 1.43.

Parker-Hannifin (NYSE:PH) last posted 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. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The company had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same quarter in the prior year, the company posted $5.96 earnings per share. Parker-Hannifin’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that Parker-Hannifin Co. will post 26.77 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 8th will be issued a $1.63 dividend. The ex-dividend date is Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.94%. Parker-Hannifin’s dividend payout ratio is currently 29.45%.

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.