Atria Investments Inc Sells 1,530 Shares of Parker-Hannifin Co. (NYSE:PH)

Atria Investments Inc decreased its holdings in Parker-Hannifin Co. (NYSE:PH - Free Report) by 5.5% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 26,248 shares of the industrial products company's stock after selling 1,530 shares during the quarter. Atria Investments Inc's holdings in Parker-Hannifin were worth $16,584,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Addison Advisors LLC purchased a new position in shares of Parker-Hannifin during the 2nd quarter worth $25,000. West Branch Capital LLC purchased a new position in Parker-Hannifin in the third quarter worth approximately $25,000. Bangor Savings Bank raised its position in Parker-Hannifin by 238.5% in the third 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 period. Fortitude Family Office LLC increased its position in shares of Parker-Hannifin by 346.7% during 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 during the last quarter. Finally, Crewe Advisors LLC acquired a new position in Parker-Hannifin in the first quarter valued at about $38,000. Hedge funds and other institutional investors own 82.44% of the company's stock.

Insider Activity at Parker-Hannifin

In related news, VP Berend Bracht sold 850 shares of Parker-Hannifin stock in a transaction dated 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 directly owns 3,350 shares in the company, valued at $1,986,282. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, VP Berend Bracht sold 850 shares of the firm's stock in a transaction dated Monday, August 26th. The shares were 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 approximately $1,986,282. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Thomas C. Gentile sold 2,430 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the sale, the vice president now owns 5,465 shares in the company, valued at $3,831,839.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 20,678 shares of company stock worth $13,840,428 in the last 90 days. 0.39% of the stock is currently owned by company insiders.

Parker-Hannifin Stock Up 1.1 %

NYSE:PH traded up $7.42 on Friday, reaching $695.58. The stock had a trading volume of 565,643 shares, compared to its average volume of 713,198. Parker-Hannifin Co. has a 12-month low of $410.86 and a 12-month high of $709.63. The stock has a market cap of $89.54 billion, a P/E ratio of 31.42, a price-to-earnings-growth ratio of 2.80 and a beta of 1.43. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. The company has a 50-day moving average of $623.97 and a 200 day moving average of $569.83.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued 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 company had revenue of $4.90 billion for the quarter, compared to analysts' expectations of $4.90 billion. During the same period in the prior year, the company earned $5.96 earnings per share. The firm's revenue was up 1.2% compared to the same quarter last year. On average, research analysts predict that Parker-Hannifin Co. will post 26.79 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 8th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend is Friday, November 8th. Parker-Hannifin's dividend payout ratio (DPR) is 29.45%.

Analyst Ratings Changes

Several research firms recently issued reports on PH. Stifel Nicolaus increased their target price on Parker-Hannifin from $633.00 to $691.00 and gave the stock a "buy" rating in a research note on Wednesday, October 2nd. Barclays lifted their price objective on shares of Parker-Hannifin from $650.00 to $703.00 and gave the company an "overweight" rating in a report on Wednesday, October 2nd. Robert W. Baird boosted their price target on shares of Parker-Hannifin from $695.00 to $710.00 and gave the stock an "outperform" rating in a research note on Friday, November 1st. Truist Financial upped their target price on shares of Parker-Hannifin from $673.00 to $788.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Finally, Wells Fargo & Company raised their price target on Parker-Hannifin from $640.00 to $710.00 and gave the company an "overweight" rating in a research note on Monday, October 7th. Two 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, the stock currently has an average rating of "Moderate Buy" and an average price target of $673.14.

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.