Conscious Wealth Investments LLC Trims Stock Position in Parker-Hannifin Co. (NYSE:PH)

Conscious Wealth Investments LLC lessened its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 0.3% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 5,795 shares of the industrial products company’s stock after selling 19 shares during the quarter. Parker-Hannifin comprises about 2.5% of Conscious Wealth Investments LLC’s holdings, making the stock its 12th biggest holding. Conscious Wealth Investments LLC’s holdings in Parker-Hannifin were worth $3,649,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. CVA Family Office LLC lifted its position in shares of Parker-Hannifin by 3.9% during the 3rd 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. Fidelis Capital Partners LLC raised its position in Parker-Hannifin by 2.3% in the 1st quarter. Fidelis Capital Partners LLC now owns 851 shares of the industrial products company’s stock valued at $473,000 after purchasing an additional 19 shares during the last quarter. Sonoma Private Wealth LLC raised its position in Parker-Hannifin by 2.9% in the 3rd quarter. Sonoma Private Wealth LLC now owns 667 shares of the industrial products company’s stock valued at $421,000 after purchasing an additional 19 shares during the last quarter. American Trust raised its position in Parker-Hannifin by 3.2% in the 1st quarter. American Trust now owns 649 shares of the industrial products company’s stock valued at $361,000 after purchasing an additional 20 shares during the last quarter. Finally, TFG Advisers LLC raised its position in Parker-Hannifin by 0.9% in the 2nd quarter. TFG Advisers LLC now owns 2,171 shares of the industrial products company’s stock valued at $1,098,000 after purchasing an additional 20 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

NYSE PH traded down $2.40 during trading hours on Friday, reaching $621.74. The company’s stock had a trading volume of 385,779 shares, compared to its average volume of 634,647. The stock has a market cap of $80.00 billion, a PE ratio of 28.53, a PEG ratio of 2.55 and a beta of 1.43. Parker-Hannifin Co. has a fifty-two week low of $362.49 and a fifty-two week high of $646.60. The company’s 50-day moving average is $611.33 and its two-hundred day moving average is $562.29. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.55 and a current ratio of 0.93.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data 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. Parker-Hannifin had a net margin of 14.27% and a return on equity of 29.08%. 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 prior year, the company earned $6.08 EPS. The firm’s revenue was up 1.8% on a year-over-year basis. Analysts forecast 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. Stockholders of record on Friday, November 8th will be issued a dividend of $1.63 per share. The ex-dividend date is Friday, November 8th. This represents a $6.52 annualized dividend and a dividend yield of 1.05%. Parker-Hannifin’s payout ratio is currently 29.92%.

Insider Transactions at Parker-Hannifin

In related 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 value of $1,032,617.23. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related 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 value of $1,032,617.23. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Berend Bracht sold 850 shares of the firm’s stock in a transaction that occurred 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 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. Insiders own 0.39% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on PH. Barclays upped their price target on shares of Parker-Hannifin from $650.00 to $703.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. StockNews.com upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, October 12th. Wells Fargo & Company upped their price objective on shares of Parker-Hannifin from $640.00 to $710.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Robert W. Baird upped their price objective 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. Finally, KeyCorp upped their price objective on shares of Parker-Hannifin from $640.00 to $725.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Two research analysts have rated the stock with a hold rating and fourteen have given 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 target price of $660.57.

Parker-Hannifin 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.