Nicolet Advisory Services LLC Buys 83 Shares of Parker-Hannifin Co. (NYSE:PH)

Nicolet Advisory Services LLC grew its stake in Parker-Hannifin Co. (NYSE:PH) by 16.0% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 602 shares of the industrial products company’s stock after buying an additional 83 shares during the quarter. Nicolet Advisory Services LLC’s holdings in Parker-Hannifin were worth $377,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in PH. Wilkinson Global Asset Management LLC increased its holdings in Parker-Hannifin by 59.1% during the 3rd quarter. Wilkinson Global Asset Management LLC now owns 39,093 shares of the industrial products company’s stock worth $24,700,000 after purchasing an additional 14,526 shares in the last quarter. Public Employees Retirement System of Ohio raised its position in Parker-Hannifin by 1.8% in the 1st quarter. Public Employees Retirement System of Ohio now owns 54,535 shares of the industrial products company’s stock valued at $30,310,000 after buying an additional 982 shares during the last quarter. Swedbank AB acquired a new stake in Parker-Hannifin in the 1st quarter valued at approximately $20,140,000. Ritholtz Wealth Management lifted its stake in Parker-Hannifin by 88.4% in the 3rd quarter. Ritholtz Wealth Management now owns 1,473 shares of the industrial products company’s stock valued at $931,000 after acquiring an additional 691 shares in the last quarter. Finally, Silvercrest Asset Management Group LLC boosted its position in Parker-Hannifin by 12.8% during the 1st quarter. Silvercrest Asset Management Group LLC now owns 12,812 shares of the industrial products company’s stock worth $7,121,000 after acquiring an additional 1,453 shares during the last quarter. Institutional investors own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

PH has been the topic of a number of recent research reports. Argus lifted their price objective on shares of Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Stifel Nicolaus cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating and set a $691.00 price target on the stock. in a research report on Monday, November 18th. StockNews.com upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Truist Financial lifted their target price on Parker-Hannifin from $673.00 to $788.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, TD Cowen increased their price target on Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a research report on Tuesday, November 12th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $691.40.

Insider Activity

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,430 shares of the firm’s stock in a transaction on 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 transaction, the vice president now owns 5,465 shares in the company, valued at $3,831,839.40. This trade represents a 30.78 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Berend Bracht sold 850 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $592.92, for a total value of $503,982.00. Following the sale, the vice president now owns 3,350 shares of the company’s stock, valued at approximately $1,986,282. The trade was a 20.24 % 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. 0.39% of the stock is owned by company insiders.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $706.87 on Friday. Parker-Hannifin Co. has a 52 week low of $426.49 and a 52 week high of $711.60. The company has a market capitalization of $90.99 billion, a price-to-earnings ratio of 31.93, a PEG ratio of 2.84 and a beta of 1.43. The company has a 50-day simple moving average of $647.32 and a 200 day simple moving average of $580.54. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data 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 company had revenue of $4.90 billion during 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 was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $5.96 earnings per share. On average, sell-side analysts predict that Parker-Hannifin Co. will post 26.77 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The company also recently announced 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. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date is Friday, November 8th. Parker-Hannifin’s dividend payout ratio is currently 29.45%.

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.