Parker-Hannifin Co. (NYSE:PH) Shares Purchased by Eastern Bank

Eastern Bank increased its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 266.1% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 43,209 shares of the industrial products company’s stock after purchasing an additional 31,406 shares during the quarter. Eastern Bank’s holdings in Parker-Hannifin were worth $27,300,000 as of its most recent filing with the SEC.

Several other large investors also recently bought and sold shares of the company. International Assets Investment Management LLC increased its holdings in shares of Parker-Hannifin by 11.5% during the first quarter. International Assets Investment Management LLC now owns 532 shares of the industrial products company’s stock valued at $293,000 after purchasing an additional 55 shares during the period. Ballentine Partners LLC lifted its holdings in shares of Parker-Hannifin by 14.5% during the 1st quarter. Ballentine Partners LLC now owns 1,363 shares of the industrial products company’s stock valued at $758,000 after buying an additional 173 shares during the last quarter. Northwest Investment Counselors LLC acquired a new stake in shares of Parker-Hannifin during the 1st quarter valued at about $31,000. Harbor Investment Advisory LLC raised its stake in shares of Parker-Hannifin by 60.6% in the 1st quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 20 shares in the last quarter. Finally, Strategic Planning Group LLC increased its position in Parker-Hannifin by 13.6% in the 1st quarter. Strategic Planning Group LLC now owns 1,290 shares of the industrial products company’s stock worth $717,000 after buying an additional 154 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Activity

In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the completion of the sale, the director now 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Joseph Scaminace sold 1,751 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the sale, the director now owns 3,900 shares of the company’s stock, valued at $2,299,947. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Berend Bracht sold 850 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $592.92, for a total value of $503,982.00. Following the completion of the transaction, the vice president now owns 3,350 shares in the company, valued at $1,986,282. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.03% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Mizuho boosted their price objective on Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Truist Financial upped their price target on Parker-Hannifin from $673.00 to $788.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft upped their price objective on Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a report on Friday, August 9th. Robert W. Baird increased their price target on Parker-Hannifin from $622.00 to $654.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Finally, Stifel Nicolaus upped their price objective on Parker-Hannifin from $633.00 to $691.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $660.57.

Parker-Hannifin Trading Down 1.2 %

Shares of NYSE PH traded down $7.70 during trading hours on Tuesday, hitting $631.54. The company’s stock had a trading volume of 253,202 shares, compared to its average volume of 635,262. The business has a 50-day simple moving average of $607.74 and a 200-day simple moving average of $560.54. 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 stock has a market cap of $81.18 billion, a price-to-earnings ratio of 29.76, a P/E/G ratio of 2.61 and a beta of 1.43. Parker-Hannifin Co. has a 12 month low of $362.49 and a 12 month high of $646.60.

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

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Wednesday, August 28th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.03%. The ex-dividend date was Wednesday, August 28th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 30.73%.

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.