B. Metzler seel. Sohn & Co. Holding AG Purchases Shares of 8,894 Parker-Hannifin Co. (NYSE:PH)

B. Metzler seel. Sohn & Co. Holding AG acquired a new position in Parker-Hannifin Co. (NYSE:PH - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 8,894 shares of the industrial products company's stock, valued at approximately $5,619,000.

Other hedge funds also recently made changes to their positions in the company. West Branch Capital LLC acquired a new position in shares of Parker-Hannifin in the 3rd quarter worth approximately $25,000. Bangor Savings Bank grew its stake in shares of Parker-Hannifin by 238.5% in the 3rd 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 last quarter. Addison Advisors LLC purchased a new position in shares of Parker-Hannifin in the second quarter worth approximately $25,000. Northwest Investment Counselors LLC purchased a new position in shares of Parker-Hannifin in the third quarter worth approximately $39,000. Finally, Fortitude Family Office LLC increased its position in shares of Parker-Hannifin by 346.7% in the second quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company's stock worth $34,000 after acquiring an additional 52 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on PH shares. KeyCorp lifted their target price on shares of Parker-Hannifin from $640.00 to $725.00 and gave the stock an "overweight" rating in a research report on Monday, October 14th. Barclays lifted their target price 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. Truist Financial raised their price target on shares of Parker-Hannifin from $673.00 to $788.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Robert W. Baird raised their price target on shares of Parker-Hannifin from $695.00 to $710.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Finally, Mizuho raised their price target on shares of Parker-Hannifin from $665.00 to $715.00 and gave the stock an "outperform" rating in a report on Thursday, October 17th. Three investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Parker-Hannifin presently has an average rating of "Moderate Buy" and a consensus price target of $688.07.

Parker-Hannifin Stock Performance

PH stock traded up $0.67 on Wednesday, reaching $690.43. 377,486 shares of the company were exchanged, compared to its average volume of 642,132. Parker-Hannifin Co. has a 12 month low of $426.49 and a 12 month high of $711.60. The stock's fifty day moving average price is $642.71 and its 200 day moving average price is $578.38. The firm has a market capitalization of $88.87 billion, a PE ratio of 31.18, a PEG ratio of 2.82 and a beta of 1.43. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.14 by $0.06. The firm had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.90 billion. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The business'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 posted $5.96 EPS. On average, research analysts anticipate that Parker-Hannifin Co. will post 26.77 EPS for the current fiscal 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 paid a $1.63 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $6.52 annualized dividend and a dividend yield of 0.94%. Parker-Hannifin's dividend payout ratio is presently 29.45%.

Insider Activity

In related news, VP Joseph R. Leonti sold 5,877 shares of the stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $631.04, for a total transaction of $3,708,622.08. Following the completion of the sale, the vice president now directly owns 15,350 shares of the company's stock, valued at approximately $9,686,464. This represents a 27.69 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Berend Bracht sold 850 shares of the company's stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $592.92, for a total value of $503,982.00. Following the transaction, the vice president now directly owns 3,350 shares of the company's stock, valued at approximately $1,986,282. This trade represents a 20.24 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 18,927 shares of company stock worth $12,807,811. Corporate insiders own 0.39% of the company's stock.

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.