High Net Worth Advisory Group LLC Grows Holdings in Parker-Hannifin Co. (NYSE:PH)

High Net Worth Advisory Group LLC raised its position in Parker-Hannifin Co. (NYSE:PH) by 96.5% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 4,694 shares of the industrial products company’s stock after purchasing an additional 2,305 shares during the period. High Net Worth Advisory Group LLC’s holdings in Parker-Hannifin were worth $2,966,000 as of its most recent SEC filing.

Other large investors also recently modified their holdings of the company. CVA Family Office LLC increased its stake in shares of Parker-Hannifin by 3.9% in the third quarter. CVA Family Office LLC now owns 425 shares of the industrial products company’s stock worth $269,000 after buying an additional 16 shares during the last quarter. McGlone Suttner Wealth Management Inc. bought a new stake in shares of Parker-Hannifin in the 3rd quarter worth about $766,000. Exchange Traded Concepts LLC acquired a new stake in shares of Parker-Hannifin in the 3rd quarter valued at about $97,000. Ritholtz Wealth Management lifted its holdings in Parker-Hannifin by 88.4% during the 3rd quarter. Ritholtz Wealth Management now owns 1,473 shares of the industrial products company’s stock worth $931,000 after buying an additional 691 shares during the last quarter. Finally, Perfromance Wealth Partners LLC boosted its holdings in Parker-Hannifin by 0.3% in the third quarter. Perfromance Wealth Partners LLC now owns 7,717 shares of the industrial products company’s stock worth $4,876,000 after purchasing an additional 24 shares during the period. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Parker-Hannifin

In related news, VP Berend Bracht sold 850 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $592.92, for a total transaction of $503,982.00. Following the transaction, the vice president now directly owns 3,350 shares in the company, valued at $1,986,282. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, VP Berend Bracht sold 850 shares of the 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 approximately $1,986,282. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Joseph Scaminace sold 1,751 shares of Parker-Hannifin stock in a transaction dated 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 in the company, valued at approximately $2,299,947. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.03% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on PH shares. Truist Financial increased their price objective on shares of Parker-Hannifin from $673.00 to $788.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Robert W. Baird raised their price target on Parker-Hannifin from $622.00 to $654.00 and gave the company an “outperform” rating in a report on Friday, August 9th. StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday. TD Cowen upped their target price on Parker-Hannifin from $500.00 to $520.00 and gave the company a “hold” rating in a report on Wednesday, September 11th. Finally, Barclays upped their price target on Parker-Hannifin from $650.00 to $703.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and an average price target of $649.86.

Parker-Hannifin Trading Up 0.9 %

Shares of PH stock opened at $637.15 on Monday. The business’s 50 day moving average is $595.82 and its two-hundred day moving average is $556.92. The company has a quick ratio of 0.55, a current ratio of 0.93 and a debt-to-equity ratio of 0.59. Parker-Hannifin Co. has a 12 month low of $362.49 and a 12 month high of $640.00. The company has a market cap of $81.90 billion, a PE ratio of 30.03, a price-to-earnings-growth ratio of 2.57 and a beta of 1.43.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, August 8th. The industrial products company reported $6.77 earnings per share for the quarter, topping analysts’ consensus estimates 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%. The business’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.08 EPS. Equities analysts predict that Parker-Hannifin Co. will post 26.64 EPS for the current year.

Parker-Hannifin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Wednesday, August 28th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend was Wednesday, August 28th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 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.