Bank of Stockton Sells 646 Shares of Parker-Hannifin Co. (NYSE:PH)

Bank of Stockton decreased its position in shares of Parker-Hannifin Co. (NYSE:PH) by 8.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 6,675 shares of the industrial products company’s stock after selling 646 shares during the period. Parker-Hannifin makes up 1.3% of Bank of Stockton’s holdings, making the stock its 15th biggest position. Bank of Stockton’s holdings in Parker-Hannifin were worth $4,217,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. 180 Wealth Advisors LLC bought a new stake in shares of Parker-Hannifin in the first quarter valued at approximately $402,000. Indiana Trust & Investment Management CO lifted its position in shares of Parker-Hannifin by 2,040.0% during the 1st quarter. Indiana Trust & Investment Management CO now owns 107 shares of the industrial products company’s stock valued at $59,000 after acquiring an additional 102 shares during the period. Capital Insight Partners LLC grew its holdings in shares of Parker-Hannifin by 53.2% during the 1st quarter. Capital Insight Partners LLC now owns 1,080 shares of the industrial products company’s stock worth $600,000 after purchasing an additional 375 shares in the last quarter. Grimes & Company Inc. bought a new position in shares of Parker-Hannifin in the first quarter worth $212,000. Finally, Seneca House Advisors acquired a new position in Parker-Hannifin in the first quarter valued at about $237,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insiders Place Their Bets

In related news, VP Berend Bracht sold 850 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was 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 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 business’s stock in a transaction that occurred 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. 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 this hyperlink. Also, VP Berend Bracht sold 850 shares of Parker-Hannifin stock in a transaction on 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 directly owns 3,350 shares of the company’s stock, valued at approximately $1,986,282. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.39% of the company’s stock.

Analyst Ratings Changes

PH has been the topic of a number of analyst reports. Wells Fargo & Company increased their price objective on shares of Parker-Hannifin from $640.00 to $710.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Robert W. Baird increased their price target on shares of Parker-Hannifin from $622.00 to $654.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Evercore ISI boosted their price objective on shares of Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Finally, TD Cowen lifted their price target on Parker-Hannifin from $500.00 to $520.00 and gave the company a “hold” rating in a research note on Wednesday, September 11th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $660.57.

Parker-Hannifin Trading Up 0.0 %

Parker-Hannifin stock traded up $0.18 during trading hours on Friday, hitting $624.32. The stock had a trading volume of 75,986 shares, compared to its average volume of 633,150. The stock has a market cap of $80.33 billion, a price-to-earnings ratio of 28.64, a P/E/G ratio of 2.55 and a beta of 1.43. The company has a quick ratio of 0.55, a current ratio of 0.93 and a debt-to-equity ratio of 0.59. The business’s 50 day simple moving average is $609.91 and its 200-day simple moving average is $561.47. Parker-Hannifin Co. has a one year low of $362.49 and a one year high of $646.60.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, August 8th. The industrial products company reported $6.77 EPS for the quarter, beating analysts’ consensus estimates of $6.22 by $0.55. The firm had revenue of $5.19 billion for the quarter, compared to analyst estimates of $5.08 billion. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. The business’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.08 EPS. On average, equities analysts predict that Parker-Hannifin Co. will post 26.68 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently declared 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. The ex-dividend date of this dividend is Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a yield of 1.04%. Parker-Hannifin’s dividend payout ratio (DPR) is currently 29.92%.

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.