MBA Advisors LLC Takes Position in Parker-Hannifin Co. (NYSE:PH)

MBA Advisors LLC bought a new position in shares of Parker-Hannifin Co. (NYSE:PH) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 337 shares of the industrial products company’s stock, valued at approximately $213,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of PH. CVA Family Office LLC boosted 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 purchasing an additional 16 shares in the last quarter. Fidelis Capital Partners LLC boosted its holdings in Parker-Hannifin by 2.3% during the first quarter. Fidelis Capital Partners LLC now owns 851 shares of the industrial products company’s stock worth $473,000 after buying an additional 19 shares in the last quarter. Sonoma Private Wealth LLC grew its position in Parker-Hannifin by 2.9% during the third quarter. Sonoma Private Wealth LLC now owns 667 shares of the industrial products company’s stock worth $421,000 after buying an additional 19 shares during the period. American Trust increased its holdings in Parker-Hannifin by 3.2% in the first quarter. American Trust now owns 649 shares of the industrial products company’s stock valued at $361,000 after buying an additional 20 shares in the last quarter. Finally, TFG Advisers LLC lifted its position in shares of Parker-Hannifin by 0.9% during the 2nd quarter. TFG Advisers LLC now owns 2,171 shares of the industrial products company’s stock valued at $1,098,000 after acquiring an additional 20 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insiders Place Their Bets

In other news, VP Berend Bracht sold 850 shares of the stock in a transaction 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 in the company, valued at approximately $1,986,282. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, Director Joseph Scaminace sold 1,751 shares of the company’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 completion of the sale, the director now owns 3,900 shares in the company, valued at approximately $2,299,947. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Berend Bracht sold 850 shares of Parker-Hannifin 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 transaction, the vice president now owns 3,350 shares in the company, valued at approximately $1,986,282. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by company insiders.

Parker-Hannifin Stock Up 0.3 %

PH stock opened at $623.58 on Tuesday. Parker-Hannifin Co. has a one year low of $362.49 and a one year high of $646.60. The stock has a market capitalization of $80.24 billion, a P/E ratio of 28.62, a PEG ratio of 2.52 and a beta of 1.43. The company has a 50 day moving average price of $612.07 and a two-hundred day moving average price of $562.82. 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 released its earnings results on Thursday, August 8th. The industrial products company reported $6.77 EPS for the quarter, beating the consensus estimate of $6.22 by $0.55. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. The firm had revenue of $5.19 billion during the quarter, compared to analyst estimates of $5.08 billion. During the same period in the prior year, the firm posted $6.08 earnings per share. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. As a group, sell-side analysts expect that Parker-Hannifin Co. will post 26.68 EPS for the current year.

Parker-Hannifin Announces Dividend

The business 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 dividend yield of 1.05%. Parker-Hannifin’s dividend payout ratio (DPR) is 29.92%.

Analyst Upgrades and Downgrades

PH has been the subject of several research analyst reports. Mizuho raised their price objective on Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Raymond James lifted their price target on Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. KeyCorp increased their price objective on shares of Parker-Hannifin from $640.00 to $725.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, Wells Fargo & Company increased their price target on shares of Parker-Hannifin from $640.00 to $710.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $660.57.

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.