Nwam LLC Takes Position in Parker-Hannifin Co. (NYSE:PH)

Nwam LLC purchased a new position in Parker-Hannifin Co. (NYSE:PH) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,596 shares of the industrial products company’s stock, valued at approximately $1,009,000.

Other institutional investors also recently bought and sold shares of the company. Addison Advisors LLC bought a new position in shares of Parker-Hannifin in the second quarter worth approximately $25,000. West Branch Capital LLC purchased a new stake in Parker-Hannifin during the 3rd quarter valued at $25,000. Bangor Savings Bank boosted its stake in Parker-Hannifin by 238.5% during the 3rd quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 31 shares during the last quarter. Fortitude Family Office LLC increased its holdings in shares of Parker-Hannifin by 346.7% in the 2nd quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 52 shares in the last quarter. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Parker-Hannifin in the second quarter worth $39,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research firms recently commented on PH. TD Cowen lifted their price objective on Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a report on Tuesday, November 12th. Barclays lifted their price target on shares of Parker-Hannifin from $650.00 to $703.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Mizuho increased their price objective on shares of Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Stifel Nicolaus cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating and set a $691.00 target price on the stock. in a report on Monday, November 18th. Finally, UBS Group began coverage on shares of Parker-Hannifin in a research note on Wednesday, November 13th. They set a “buy” rating and a $842.00 target price for the company. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $691.40.

Insider Activity

In other news, VP Berend Bracht sold 850 shares of the firm’s stock in a transaction dated 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 in the company, valued at $1,986,282. This trade represents a 20.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jennifer A. Parmentier sold 4,906 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief executive officer now owns 33,607 shares in the company, valued at $23,682,516.83. This represents a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,927 shares of company stock worth $12,807,811 over the last ninety days. Corporate insiders own 0.39% of the company’s stock.

Parker-Hannifin Stock Up 0.6 %

PH stock opened at $706.87 on Friday. The business’s 50-day moving average price is $647.32 and its 200-day moving average price is $580.54. The stock has a market cap of $90.99 billion, a P/E ratio of 31.93, a PEG ratio of 2.84 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 Co. has a twelve month low of $426.49 and a twelve month 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 for the quarter, beating the consensus estimate of $6.14 by $0.06. The business had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.90 billion. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the previous year, the firm earned $5.96 earnings per share. On average, equities research analysts forecast that Parker-Hannifin Co. will post 26.77 EPS for the current year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders 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 dividend on an annualized basis and a yield of 0.92%. Parker-Hannifin’s dividend payout ratio is presently 29.45%.

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.