Ashton Thomas Private Wealth LLC Buys 122 Shares of Parker-Hannifin Co. (NYSE:PH)

Ashton Thomas Private Wealth LLC raised its stake in Parker-Hannifin Co. (NYSE:PH) by 2.7% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 4,588 shares of the industrial products company’s stock after acquiring an additional 122 shares during the quarter. Ashton Thomas Private Wealth LLC’s holdings in Parker-Hannifin were worth $2,899,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of PH. International Assets Investment Management LLC increased its holdings in shares of Parker-Hannifin by 64,081.5% during the third quarter. International Assets Investment Management LLC now owns 381,880 shares of the industrial products company’s stock worth $241,279,000 after purchasing an additional 381,285 shares during the period. 1832 Asset Management L.P. increased its stake in Parker-Hannifin by 305.0% in the first quarter. 1832 Asset Management L.P. now owns 307,794 shares of the industrial products company’s stock valued at $171,069,000 after acquiring an additional 231,788 shares during the last quarter. AMF Tjanstepension AB increased its stake in Parker-Hannifin by 23.0% in the second quarter. AMF Tjanstepension AB now owns 758,262 shares of the industrial products company’s stock valued at $383,594,000 after acquiring an additional 141,862 shares during the last quarter. Mackenzie Financial Corp increased its stake in Parker-Hannifin by 107.7% in the second quarter. Mackenzie Financial Corp now owns 271,717 shares of the industrial products company’s stock valued at $137,437,000 after acquiring an additional 140,898 shares during the last quarter. Finally, Swedbank AB increased its stake in Parker-Hannifin by 377.8% in the third quarter. Swedbank AB now owns 158,085 shares of the industrial products company’s stock valued at $99,881,000 after acquiring an additional 125,000 shares during the last quarter. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Price Performance

Shares of NYSE PH opened at $699.17 on Wednesday. Parker-Hannifin Co. has a twelve month low of $415.97 and a twelve month high of $711.60. The firm has a fifty day simple moving average of $626.13 and a 200 day simple moving average of $571.11. The company has a market capitalization of $90.00 billion, a PE ratio of 31.58, a P/E/G ratio of 2.86 and a beta of 1.43. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, topping analysts’ consensus estimates of $6.14 by $0.06. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The business had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same quarter last year, the firm earned $5.96 earnings per share. Parker-Hannifin’s quarterly revenue was up 1.2% on a year-over-year basis. On average, sell-side analysts forecast that Parker-Hannifin Co. will post 26.79 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 paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend is Friday, November 8th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 29.45%.

Analysts Set New Price Targets

PH has been the topic of a number of recent analyst reports. Truist Financial lifted their price objective on shares of Parker-Hannifin from $673.00 to $788.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Barclays raised their target price 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. Evercore ISI raised their target price on shares of Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. Finally, Stifel Nicolaus raised their target price on shares of Parker-Hannifin from $633.00 to $691.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus target price of $677.07.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,430 shares of Parker-Hannifin stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total value of $1,703,818.80. Following the completion of the sale, the vice president now directly owns 5,465 shares of the company’s stock, valued at approximately $3,831,839.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Jennifer A. Parmentier sold 4,906 shares of the business’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $704.69, for a total transaction of $3,457,209.14. Following the completion of the sale, 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 ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Thomas C. Gentile sold 2,430 shares of the business’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the sale, the vice president now directly owns 5,465 shares of the company’s stock, valued at approximately $3,831,839.40. 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 ninety days, insiders sold 20,678 shares of company stock valued at $13,840,428. Corporate 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.