Net Worth Advisory Group Acquires Shares of 1,110 Parker-Hannifin Co. (NYSE:PH)

Net Worth Advisory Group purchased a new position in shares of Parker-Hannifin Co. (NYSE:PH) in the 3rd quarter, HoldingsChannel.com reports. The firm purchased 1,110 shares of the industrial products company’s stock, valued at approximately $702,000.

Several other large investors also recently modified their holdings of PH. TD Asset Management Inc boosted its holdings in Parker-Hannifin by 152.1% in the 1st quarter. TD Asset Management Inc now owns 132,231 shares of the industrial products company’s stock worth $73,493,000 after buying an additional 79,774 shares during the period. Daiwa Securities Group Inc. grew its position in Parker-Hannifin by 8.5% in the first quarter. Daiwa Securities Group Inc. now owns 22,960 shares of the industrial products company’s stock worth $12,761,000 after acquiring an additional 1,802 shares in the last quarter. Concurrent Investment Advisors LLC grew its position in Parker-Hannifin by 261.4% in the first quarter. Concurrent Investment Advisors LLC now owns 2,515 shares of the industrial products company’s stock worth $1,397,000 after acquiring an additional 1,819 shares in the last quarter. Oppenheimer Asset Management Inc. grew its position in Parker-Hannifin by 54.1% in the first quarter. Oppenheimer Asset Management Inc. now owns 17,165 shares of the industrial products company’s stock worth $9,540,000 after acquiring an additional 6,029 shares in the last quarter. Finally, Janney Montgomery Scott LLC grew its position in Parker-Hannifin by 16.5% in the first quarter. Janney Montgomery Scott LLC now owns 42,523 shares of the industrial products company’s stock worth $23,634,000 after acquiring an additional 6,013 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Trading Up 0.1 %

NYSE:PH opened at $640.44 on Friday. Parker-Hannifin Co. has a one year low of $362.49 and a one year high of $646.60. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.55 and a current ratio of 0.93. The firm has a market cap of $82.41 billion, a P/E ratio of 29.39, a P/E/G ratio of 2.61 and a beta of 1.43. The firm has a 50-day simple moving average of $606.31 and a 200-day simple moving average of $559.86.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, August 8th. The industrial products company reported $6.77 EPS for the quarter, topping the consensus estimate of $6.22 by $0.55. The firm had revenue of $5.19 billion during the quarter, compared to analyst estimates of $5.08 billion. Parker-Hannifin had a net margin of 14.27% and a return on equity of 29.08%. Parker-Hannifin’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the business posted $6.08 EPS. Equities analysts anticipate that Parker-Hannifin Co. will post 26.64 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Wednesday, August 28th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend was Wednesday, August 28th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 29.92%.

Insider Activity

In related news, Director Joseph Scaminace sold 1,751 shares of the business’s stock in a transaction on Thursday, August 15th. The shares were 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 in the company, valued at $2,299,947. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Joseph Scaminace sold 1,751 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $589.73, for a total value of $1,032,617.23. Following the completion of the sale, the director now directly owns 3,900 shares in the company, valued at $2,299,947. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Berend Bracht sold 850 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $592.92, for a total transaction of $503,982.00. Following the completion of the sale, the vice president now owns 3,350 shares of the company’s stock, valued at $1,986,282. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.39% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on PH shares. StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Barclays boosted their price target 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. Raymond James boosted their price target 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. Stifel Nicolaus boosted their price target on shares of Parker-Hannifin from $633.00 to $691.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Finally, Wells Fargo & Company upped their price objective on shares of Parker-Hannifin from $640.00 to $710.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and an average price target of $660.57.

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.