Entropy Technologies LP increased its holdings in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 40.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,416 shares of the industrial products company's stock after acquiring an additional 2,131 shares during the period. Entropy Technologies LP's holdings in Parker-Hannifin were worth $4,686,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently modified their holdings of the stock. West Branch Capital LLC purchased a new stake in Parker-Hannifin in the third quarter worth about $25,000. Bangor Savings Bank increased its position in shares of 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. Addison Advisors LLC bought a new stake in shares of Parker-Hannifin in the 2nd quarter worth about $25,000. Northwest Investment Counselors LLC bought a new position in shares of Parker-Hannifin during the third quarter valued at approximately $39,000. Finally, Fortitude Family Office LLC lifted its position in shares of Parker-Hannifin by 346.7% during the second 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. 82.44% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts have recently weighed in on the stock. Evercore ISI upped their price target on shares of Parker-Hannifin from $620.00 to $656.00 and gave the stock an "outperform" rating in a research report on Monday, August 19th. StockNews.com upgraded shares of Parker-Hannifin from a "hold" rating to a "buy" rating in a research note on Saturday, October 12th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Parker-Hannifin from $595.00 to $645.00 and gave the stock a "buy" rating in a research note on Friday, August 9th. KeyCorp upped their price objective 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. Finally, Mizuho increased their target price 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. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $677.07.
Check Out Our Latest Stock Report on PH
Parker-Hannifin Stock Performance
Shares of NYSE:PH traded down $8.98 during trading on Tuesday, hitting $699.17. 551,715 shares of the company traded hands, compared to its average volume of 646,639. Parker-Hannifin Co. has a one year low of $415.97 and a one year high of $711.60. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. The business's fifty day moving average is $626.13 and its 200-day moving average is $571.11. The stock has a market capitalization of $90.00 billion, a price-to-earnings ratio of 31.63, a PEG ratio of 2.80 and a beta of 1.43.
Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly 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. The company had revenue of $4.90 billion during 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% compared to the same quarter last year. During the same period in the prior year, the business posted $5.96 EPS. As a group, equities analysts predict that Parker-Hannifin Co. will post 26.79 earnings per share for the current fiscal year.
Parker-Hannifin Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 8th will be given a $1.63 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a yield of 0.93%. Parker-Hannifin's payout ratio is 29.45%.
Insider Activity at Parker-Hannifin
In other news, VP Joseph R. Leonti sold 5,877 shares of the firm's stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $631.04, for a total value of $3,708,622.08. Following the sale, the vice president now directly owns 15,350 shares of the company's stock, valued at approximately $9,686,464. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,430 shares of the business's stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total value of $1,703,818.80. Following the transaction, the vice president now owns 5,465 shares of the company's stock, valued at approximately $3,831,839.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Joseph R. Leonti sold 5,877 shares of the firm's stock in a transaction that occurred on Friday, November 1st. The shares were 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 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 20,678 shares of company stock valued at $13,840,428. Insiders own 0.39% of the company's stock.
Parker-Hannifin Profile
(
Free Report)
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.
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