Amalgamated Bank Sells 722 Shares of Parker-Hannifin Co. (NYSE:PH)

Amalgamated Bank cut its position in shares of Parker-Hannifin Co. (NYSE:PH) by 2.8% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 25,210 shares of the industrial products company’s stock after selling 722 shares during the quarter. Amalgamated Bank’s holdings in Parker-Hannifin were worth $15,928,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of PH. Norden Group LLC bought a new stake in shares of Parker-Hannifin in the 1st quarter worth approximately $350,000. Private Advisor Group LLC boosted its position in Parker-Hannifin by 5.3% during the first quarter. Private Advisor Group LLC now owns 4,392 shares of the industrial products company’s stock valued at $2,441,000 after buying an additional 220 shares during the period. Rehmann Capital Advisory Group bought a new position in shares of Parker-Hannifin during the first quarter valued at about $325,000. Mediolanum International Funds Ltd bought a new stake in shares of Parker-Hannifin in the 1st quarter valued at about $1,163,000. Finally, Catalina Capital Group LLC purchased a new stake in Parker-Hannifin during the 1st quarter valued at about $341,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Joseph R. Leonti sold 5,877 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $631.04, for a total transaction of $3,708,622.08. Following the completion of the sale, the vice president now directly owns 15,350 shares in the company, valued at approximately $9,686,464. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, VP Joseph R. Leonti sold 5,877 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $631.04, for a total transaction of $3,708,622.08. Following the sale, the vice president now owns 15,350 shares in the company, valued at $9,686,464. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, 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 transaction, the vice president now owns 3,350 shares of the company’s stock, 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. Insiders sold a total of 8,478 shares of company stock valued at $5,245,221 in the last quarter. 0.39% of the stock is owned by insiders.

Parker-Hannifin Stock Up 2.4 %

Shares of Parker-Hannifin stock opened at $653.57 on Wednesday. Parker-Hannifin Co. has a 1 year low of $399.19 and a 1 year high of $653.97. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57. The company has a 50-day moving average of $617.66 and a 200 day moving average of $566.76. The firm has a market cap of $84.09 billion, a price-to-earnings ratio of 29.52, a PEG ratio of 2.56 and a beta of 1.43.

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 analysts’ consensus estimates of $6.14 by $0.06. The firm had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.90 billion. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.96 EPS. As a group, sell-side analysts anticipate that Parker-Hannifin Co. will post 26.84 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently declared 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 of this dividend is Friday, November 8th. This represents a $6.52 annualized dividend and a dividend yield of 1.00%. Parker-Hannifin’s payout ratio is presently 29.45%.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on PH shares. Raymond James boosted their price objective on Parker-Hannifin from $610.00 to $650.00 and gave the company an “outperform” rating in a research report on Wednesday, September 4th. Truist Financial increased their price target on shares of Parker-Hannifin from $673.00 to $788.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Wells Fargo & Company raised their price target on shares of Parker-Hannifin from $640.00 to $710.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, KeyCorp raised their target price on Parker-Hannifin from $640.00 to $725.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Two 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, Parker-Hannifin has a consensus rating of “Moderate Buy” and a consensus target price of $673.14.

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.