Parker-Hannifin Co. (NYSE:PH) Holdings Boosted by Turtle Creek Wealth Advisors LLC

Turtle Creek Wealth Advisors LLC grew its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 1.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,201 shares of the industrial products company’s stock after purchasing an additional 183 shares during the quarter. Parker-Hannifin makes up 1.3% of Turtle Creek Wealth Advisors LLC’s portfolio, making the stock its 21st largest holding. Turtle Creek Wealth Advisors LLC’s holdings in Parker-Hannifin were worth $6,445,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also made changes to their positions in PH. Addison Advisors LLC bought a new stake in Parker-Hannifin during the second quarter worth approximately $25,000. West Branch Capital LLC bought a new stake in shares of Parker-Hannifin during the 3rd quarter worth $25,000. Bangor Savings Bank raised its position in shares of Parker-Hannifin by 238.5% during the third quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 31 shares during the period. Fortitude Family Office LLC lifted its holdings in shares of Parker-Hannifin by 346.7% during the second quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 52 shares during the last quarter. Finally, Crewe Advisors LLC purchased a new stake in shares of Parker-Hannifin during the first quarter valued at $38,000. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of NYSE:PH traded up $1.28 during midday trading on Friday, hitting $698.91. The company’s stock had a trading volume of 530,753 shares, compared to its average volume of 645,390. Parker-Hannifin Co. has a fifty-two week low of $425.20 and a fifty-two week high of $711.60. 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 stock has a market capitalization of $89.96 billion, a price-to-earnings ratio of 31.57, a PEG ratio of 2.85 and a beta of 1.43. The stock’s 50 day simple moving average is $636.19 and its 200 day simple moving average is $574.94.

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 company had revenue of $4.90 billion during 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 company’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the company earned $5.96 earnings per share. As a group, research analysts anticipate that Parker-Hannifin Co. will post 26.77 earnings per share 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 0.93%. Parker-Hannifin’s payout ratio is 29.45%.

Insider Activity

In other news, COO Andrew D. Ross sold 4,864 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total value of $3,434,178.56. Following the completion of the transaction, the chief operating officer now owns 13,120 shares in the company, valued at approximately $9,263,244.80. The trade was a 27.05 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jennifer A. Parmentier sold 4,906 shares of the firm’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $704.69, for a total value of $3,457,209.14. Following the completion of the sale, the chief executive officer now owns 33,607 shares of the company’s stock, valued at approximately $23,682,516.83. This trade represents a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,927 shares of company stock valued at $12,807,811. Insiders own 0.39% of the company’s stock.

Analyst Upgrades and Downgrades

PH has been the subject of several recent analyst reports. Argus raised their target price on Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Mizuho lifted their target price on shares of Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Stifel Nicolaus lifted their price objective on Parker-Hannifin from $633.00 to $691.00 and gave the company a “buy” rating in a research report on Wednesday, October 2nd. Finally, StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, October 12th. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $688.07.

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.