Joseph Group Capital Management Purchases 809 Shares of Parker-Hannifin Co. (NYSE:PH)

Joseph Group Capital Management raised its stake in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 13.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,942 shares of the industrial products company's stock after purchasing an additional 809 shares during the quarter. Parker-Hannifin accounts for 1.7% of Joseph Group Capital Management's portfolio, making the stock its 11th largest holding. Joseph Group Capital Management's holdings in Parker-Hannifin were worth $4,386,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in PH. Addison Advisors LLC acquired a new position in shares of Parker-Hannifin in the 2nd quarter worth approximately $25,000. West Branch Capital LLC acquired a new position in shares of Parker-Hannifin in the 3rd quarter worth approximately $25,000. Bangor Savings Bank boosted its holdings 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 acquiring an additional 31 shares in the last quarter. Fortitude Family Office LLC boosted its holdings in shares of Parker-Hannifin by 346.7% in the 2nd 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. Finally, Crewe Advisors LLC acquired a new position in shares of Parker-Hannifin in the 1st quarter worth approximately $38,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Trading Down 0.3 %

Shares of PH traded down $2.12 during trading hours on Tuesday, reaching $689.56. The stock had a trading volume of 337,347 shares, compared to its average volume of 643,280. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. Parker-Hannifin Co. has a 52 week low of $426.49 and a 52 week high of $711.60. The firm has a 50-day moving average of $638.42 and a 200 day moving average of $576.52. The company has a market cap of $88.76 billion, a P/E ratio of 31.20, a P/E/G ratio of 2.82 and a beta of 1.43.

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, beating 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 business had revenue of $4.90 billion during the quarter, compared to analysts' expectations of $4.90 billion. During the same quarter in the prior year, the company earned $5.96 EPS. The firm's quarterly revenue was up 1.2% on a year-over-year basis. On average, sell-side analysts expect that Parker-Hannifin Co. will post 26.77 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. TD Cowen boosted their target price on Parker-Hannifin from $520.00 to $575.00 and gave the stock a "hold" rating in a report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Parker-Hannifin from $595.00 to $645.00 and gave the stock a "buy" rating in a research report on Friday, August 9th. Raymond James boosted their price objective 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. Argus boosted their price objective on shares of Parker-Hannifin from $650.00 to $710.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. Finally, Evercore ISI boosted their price objective 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. Three equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $688.07.

Insider Buying and Selling

In other news, VP Berend Bracht sold 850 shares of the 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 directly owns 3,350 shares in the company, valued at $1,986,282. This represents a 20.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Thomas C. Gentile sold 2,430 shares of the stock in a transaction dated Wednesday, November 6th. The stock was 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 of the company's stock, valued at approximately $3,831,839.40. This represents a 30.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,927 shares of company stock valued at $12,807,811. Company insiders own 0.39% of the company's stock.

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.