Parker-Hannifin Co. (NYSE:PH) Shares Bought by Larson Financial Group LLC

Larson Financial Group LLC increased its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 4.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,364 shares of the industrial products company’s stock after buying an additional 284 shares during the period. Larson Financial Group LLC’s holdings in Parker-Hannifin were worth $4,653,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently added to or reduced their stakes in the stock. CreativeOne Wealth LLC purchased a new stake in shares of Parker-Hannifin during the first quarter worth approximately $342,000. BOKF NA raised its position in shares of Parker-Hannifin by 12.9% in the first quarter. BOKF NA now owns 2,107 shares of the industrial products company’s stock valued at $1,161,000 after buying an additional 241 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of Parker-Hannifin by 8.3% in the first quarter. Price T Rowe Associates Inc. MD now owns 196,960 shares of the industrial products company’s stock worth $109,470,000 after buying an additional 15,079 shares in the last quarter. Public Employees Retirement System of Ohio grew its stake in Parker-Hannifin by 1.8% during 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 acquiring an additional 982 shares in the last quarter. Finally, Mount Yale Investment Advisors LLC purchased a new position in Parker-Hannifin in the 1st quarter worth approximately $548,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on PH shares. Wells Fargo & Company upped their target price on Parker-Hannifin from $640.00 to $710.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Barclays raised their price objective on shares of Parker-Hannifin from $650.00 to $703.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. TD Cowen boosted their target price on shares of Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. KeyCorp lifted their price target on shares of Parker-Hannifin from $725.00 to $775.00 and gave the company an “overweight” rating in a research report on Thursday. Finally, Raymond James upped their price objective on Parker-Hannifin from $610.00 to $650.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. Three research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and an average price target of $691.40.

Insider Transactions at Parker-Hannifin

In related news, CEO Jennifer A. Parmentier sold 4,906 shares of the business’s stock in a transaction on 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 transaction, the chief executive officer now owns 33,607 shares in the company, valued at approximately $23,682,516.83. The trade was a 12.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO Andrew D. Ross sold 4,864 shares of the firm’s stock in a transaction 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 sale, the chief operating officer now owns 13,120 shares in the company, valued at approximately $9,263,244.80. This represents a 27.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,927 shares of company stock valued at $12,807,811. 0.39% of the stock is currently owned by corporate insiders.

Parker-Hannifin Trading Up 0.6 %

NYSE PH opened at $706.87 on Friday. 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 firm has a market cap 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 firm has a 50 day simple moving average of $647.32 and a 200-day simple moving average of $580.54. Parker-Hannifin Co. has a one year low of $426.49 and a one 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 EPS for the quarter, beating the consensus estimate 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 net margin of 14.47% and a return on equity of 27.95%. The firm’s revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the company posted $5.96 EPS. Equities research analysts anticipate that Parker-Hannifin Co. will post 26.77 EPS 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. Stockholders of record on Friday, November 8th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 0.92%. The ex-dividend date is Friday, November 8th. Parker-Hannifin’s payout ratio is presently 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.