Captrust Financial Advisors Sells 1,858 Shares of Parker-Hannifin Co. (NYSE:PH)

Captrust Financial Advisors reduced its position in Parker-Hannifin Co. (NYSE:PH) by 16.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,316 shares of the industrial products company’s stock after selling 1,858 shares during the quarter. Captrust Financial Advisors’ holdings in Parker-Hannifin were worth $5,886,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in PH. Addison Advisors LLC purchased a new stake in shares of Parker-Hannifin in the 2nd quarter worth approximately $25,000. West Branch Capital LLC purchased a new stake in Parker-Hannifin during the third quarter worth $25,000. Bangor Savings Bank boosted its position 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 acquiring an additional 31 shares in the last quarter. Fortitude Family Office LLC increased its holdings in shares of Parker-Hannifin by 346.7% in the 2nd quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 52 shares during the period. Finally, Opal Wealth Advisors LLC bought a new position in shares of Parker-Hannifin in the 2nd quarter worth $39,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the company. UBS Group started coverage on Parker-Hannifin in a research report on Wednesday, November 13th. They set a “buy” rating and a $842.00 price objective on the stock. Raymond James lifted their price objective on shares of Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. TD Cowen increased their target price on shares of Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. Wells Fargo & Company raised their target price 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. Finally, Truist Financial increased their price objective on Parker-Hannifin from $673.00 to $788.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $691.40.

Parker-Hannifin Stock Down 0.3 %

Shares of PH opened at $700.98 on Tuesday. The firm has a market cap of $90.23 billion, a P/E ratio of 31.66, a PEG ratio of 2.84 and a beta of 1.43. Parker-Hannifin Co. has a 12 month low of $431.98 and a 12 month high of $712.42. The stock’s 50 day moving average is $658.01 and its two-hundred day moving average is $587.06. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, topping the consensus estimate of $6.14 by $0.06. The company had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.90 billion. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The firm’s revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $5.96 EPS. Analysts predict that Parker-Hannifin Co. will post 26.77 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 8th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.93%. The ex-dividend date is Friday, November 8th. Parker-Hannifin’s payout ratio is 29.45%.

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.