Parker-Hannifin Co. (NYSE:PH) Shares Purchased by Silver Oak Securities Incorporated

Silver Oak Securities Incorporated boosted its holdings in Parker-Hannifin Co. (NYSE:PH) by 7,972.7% during the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 1,776 shares of the industrial products company’s stock after acquiring an additional 1,754 shares during the period. Silver Oak Securities Incorporated’s holdings in Parker-Hannifin were worth $1,124,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Nicholson Wealth Management Group LLC acquired a new stake in shares of Parker-Hannifin in the 3rd quarter worth about $915,000. Rowlandmiller & PARTNERS.ADV acquired a new stake in shares of Parker-Hannifin in the third quarter valued at approximately $104,000. Dakota Wealth Management raised its holdings in shares of Parker-Hannifin by 6.9% during the third quarter. Dakota Wealth Management now owns 1,088 shares of the industrial products company’s stock valued at $687,000 after buying an additional 70 shares during the last quarter. IFM Investors Pty Ltd boosted its position in shares of Parker-Hannifin by 0.8% during the third quarter. IFM Investors Pty Ltd now owns 25,233 shares of the industrial products company’s stock worth $15,943,000 after buying an additional 207 shares during the period. Finally, Walker Asset Management LLC bought a new position in Parker-Hannifin in the 3rd quarter worth approximately $202,000. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Stock Down 0.4 %

PH stock opened at $621.74 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.93 and a quick ratio of 0.55. The firm has a market capitalization of $80.00 billion, a P/E ratio of 28.48, a P/E/G ratio of 2.55 and a beta of 1.43. Parker-Hannifin Co. has a 52-week low of $362.49 and a 52-week high of $646.60. The company’s 50 day simple moving average is $610.56 and its 200-day simple moving average is $561.90.

Parker-Hannifin (NYSE:PH) last issued its earnings results 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 business had revenue of $5.19 billion during the quarter, compared to analysts’ expectations of $5.08 billion. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. Parker-Hannifin’s revenue was up 1.8% compared to the same quarter last year. During the same quarter last year, the firm posted $6.08 earnings per share. As a group, equities research analysts anticipate that Parker-Hannifin Co. will post 26.68 EPS for the current year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 8th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.05%. The ex-dividend date of this dividend is Friday, November 8th. Parker-Hannifin’s payout ratio is presently 29.92%.

Wall Street Analysts Forecast Growth

PH has been the subject of several recent analyst reports. Stifel Nicolaus increased their price target on Parker-Hannifin from $633.00 to $691.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. 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 report on Wednesday, October 2nd. Robert W. Baird increased their price objective on shares of Parker-Hannifin from $622.00 to $654.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Evercore ISI raised their price objective on shares of Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. Finally, Raymond James upped their target price on Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $660.57.

Insider Buying and Selling at Parker-Hannifin

In other news, VP Berend Bracht sold 850 shares of the business’s 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 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 position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of Parker-Hannifin stock in a transaction that occurred 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 sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Berend Bracht sold 850 shares of the business’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 directly owns 3,350 shares of the company’s stock, valued at $1,986,282. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.39% of the company’s stock.

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.