Angeles Investment Advisors LLC Reduces Stock Position in Parker-Hannifin Co. (NYSE:PH)

Angeles Investment Advisors LLC lowered its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 11.7% in the third quarter, Holdings Channel.com reports. The fund owned 1,513 shares of the industrial products company’s stock after selling 200 shares during the quarter. Angeles Investment Advisors LLC’s holdings in Parker-Hannifin were worth $956,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of PH. CVA Family Office LLC lifted its holdings in shares of Parker-Hannifin by 3.9% in 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 period. Sonoma Private Wealth LLC lifted its stake in shares of Parker-Hannifin by 2.9% during the 3rd quarter. Sonoma Private Wealth LLC now owns 667 shares of the industrial products company’s stock worth $421,000 after purchasing an additional 19 shares during the last quarter. W Advisors LLC lifted its stake in shares of Parker-Hannifin by 3.4% during the 3rd quarter. W Advisors LLC now owns 581 shares of the industrial products company’s stock worth $367,000 after purchasing an additional 19 shares during the last quarter. Simmons Bank lifted its stake in shares of Parker-Hannifin by 0.7% during the 3rd quarter. Simmons Bank now owns 2,753 shares of the industrial products company’s stock worth $1,739,000 after purchasing an additional 19 shares during the last quarter. Finally, American Trust lifted its stake in shares of Parker-Hannifin by 3.2% during the 1st quarter. American Trust now owns 649 shares of the industrial products company’s stock worth $361,000 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

Shares of NYSE:PH traded up $4.04 during trading on Wednesday, reaching $703.36. The stock had a trading volume of 22,656 shares, compared to its average volume of 643,804. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96. The business has a fifty day moving average price of $628.60 and a 200-day moving average price of $572.14. The stock has a market cap of $90.54 billion, a PE ratio of 31.58, a PEG ratio of 2.86 and a beta of 1.43. Parker-Hannifin Co. has a 1-year low of $422.36 and a 1-year high of $711.60.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (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 analyst estimates 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 was up 1.2% on a year-over-year basis. During the same period in the previous year, the company posted $5.96 earnings per share. On average, equities analysts forecast that Parker-Hannifin Co. will post 26.79 earnings per share for the current fiscal 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. The ex-dividend date is Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a yield of 0.93%. Parker-Hannifin’s payout ratio is 29.45%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on PH. StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Mizuho increased their price target on Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. KeyCorp increased their price target on Parker-Hannifin from $640.00 to $725.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Truist Financial increased their price target on Parker-Hannifin from $673.00 to $788.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, UBS Group started coverage on Parker-Hannifin in a research note on Wednesday. They issued a “buy” rating and a $842.00 price target for the company. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $688.07.

Insider Buying and Selling

In other Parker-Hannifin news, CEO Jennifer A. Parmentier sold 4,906 shares of Parker-Hannifin stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $704.69, for a total value of $3,457,209.14. Following the sale, the chief executive officer now owns 33,607 shares in the company, valued at $23,682,516.83. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Jennifer A. Parmentier sold 4,906 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $704.69, for a total transaction of $3,457,209.14. Following the completion of the transaction, the chief executive officer now directly owns 33,607 shares of the company’s stock, valued at $23,682,516.83. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, COO Andrew D. Ross sold 4,864 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $706.04, for a total value of $3,434,178.56. Following the transaction, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at $9,263,244.80. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 20,678 shares of company stock worth $13,840,428. 0.39% of the stock is owned by corporate insiders.

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.