Geode Capital Management LLC Grows Holdings in Parker-Hannifin Co. (NYSE:PH)

Geode Capital Management LLC raised its holdings in Parker-Hannifin Co. (NYSE:PH - Free Report) by 1.2% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,577,831 shares of the industrial products company's stock after purchasing an additional 29,408 shares during the period. Geode Capital Management LLC owned approximately 2.00% of Parker-Hannifin worth $1,623,689,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of PH. Addison Advisors LLC purchased a new position in Parker-Hannifin during the 2nd quarter worth $25,000. West Branch Capital LLC bought a new stake in shares of Parker-Hannifin during the third quarter valued at about $25,000. Bangor Savings Bank increased its holdings in shares of Parker-Hannifin by 238.5% in the third 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 period. Prestige Wealth Management Group LLC increased its position in shares of Parker-Hannifin by 83.3% in the third quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company's stock worth $35,000 after purchasing an additional 25 shares during the last quarter. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Parker-Hannifin during the 3rd quarter valued at $39,000. 82.44% of the stock is owned by institutional investors.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,430 shares of the company'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 transaction, the vice president now owns 5,465 shares in the company, valued at approximately $3,831,839.40. This represents a 30.78 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, COO Andrew D. Ross sold 4,864 shares of the business's stock in a transaction dated 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 sale, the chief operating officer now owns 13,120 shares in the company, valued at approximately $9,263,244.80. The trade was a 27.05 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,077 shares of company stock valued at $12,303,829. 0.39% of the stock is owned by company insiders.

Parker-Hannifin Stock Up 1.2 %

Shares of Parker-Hannifin stock traded up $8.16 on Wednesday, hitting $686.09. The company had a trading volume of 702,027 shares, compared to its average volume of 635,149. 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 stock has a market capitalization of $88.31 billion, a price-to-earnings ratio of 31.01, a P/E/G ratio of 2.81 and a beta of 1.44. The stock has a 50 day moving average of $665.49 and a 200-day moving average of $593.46. Parker-Hannifin Co. has a 1 year low of $435.77 and a 1 year high of $712.42.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, topping the consensus estimate 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 during the quarter, compared to the consensus estimate of $4.90 billion. During the same period last year, the firm earned $5.96 EPS. Parker-Hannifin's revenue for the quarter was up 1.2% on a year-over-year basis. As a group, sell-side analysts forecast that Parker-Hannifin Co. will post 26.77 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 8th were paid a dividend of $1.63 per share. The ex-dividend date was Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a yield of 0.95%. Parker-Hannifin's dividend payout ratio is presently 29.45%.

Analysts Set New Price Targets

PH has been the subject of several analyst reports. Truist Financial raised their price target on Parker-Hannifin from $673.00 to $788.00 and gave the company a "buy" rating in a report on Wednesday, October 9th. KeyCorp increased their price target on Parker-Hannifin from $725.00 to $775.00 and gave the stock an "overweight" rating in a research note on Thursday, November 21st. Jefferies Financial Group raised their target price on shares of Parker-Hannifin from $765.00 to $810.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Raymond James boosted their price target on shares of Parker-Hannifin from $610.00 to $650.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 4th. Finally, Wells Fargo & Company increased their target price on Parker-Hannifin from $640.00 to $710.00 and gave the stock an "overweight" rating in a research note on Monday, October 7th. Three analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. According to MarketBeat, Parker-Hannifin currently has a consensus rating of "Moderate Buy" and a consensus target price of $704.88.

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.