Parker-Hannifin Co. (NYSE:PH) Shares Sold by Los Angeles Capital Management LLC

Los Angeles Capital Management LLC lessened its holdings in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 16.0% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 89,290 shares of the industrial products company's stock after selling 17,023 shares during the quarter. Los Angeles Capital Management LLC owned approximately 0.07% of Parker-Hannifin worth $56,415,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of PH. Addison Advisors LLC acquired a new stake in shares of Parker-Hannifin in the 2nd quarter worth $25,000. West Branch Capital LLC acquired a new stake in Parker-Hannifin during the third quarter worth about $25,000. Bangor Savings Bank raised its stake in Parker-Hannifin by 238.5% during 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. Fortitude Family Office LLC boosted its holdings in Parker-Hannifin by 346.7% in the 2nd quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company's stock valued at $34,000 after purchasing an additional 52 shares during the last quarter. Finally, Crewe Advisors LLC purchased a new stake in shares of Parker-Hannifin in the 1st quarter valued at approximately $38,000. Hedge funds and other institutional investors own 82.44% of the company's stock.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of Parker-Hannifin stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $592.92, for a total transaction of $503,982.00. Following the transaction, the vice president now owns 3,350 shares of the company's stock, valued at $1,986,282. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of the company's stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the completion of the sale, the director now directly owns 3,900 shares of the company's stock, valued at $2,299,947. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Berend Bracht sold 850 shares of Parker-Hannifin stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $592.92, for a total value of $503,982.00. Following the completion of the transaction, the vice president now owns 3,350 shares in the company, valued at $1,986,282. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,678 shares of company stock worth $13,840,428 over the last 90 days. Corporate insiders own 0.39% of the company's stock.

Analysts Set New Price Targets

PH has been the topic of several analyst reports. KeyCorp lifted their price target on shares of Parker-Hannifin from $640.00 to $725.00 and gave the company an "overweight" rating in a research report on Monday, October 14th. Raymond James upped their price target on Parker-Hannifin from $610.00 to $650.00 and gave the company an "outperform" rating in a research note on Wednesday, September 4th. Mizuho raised their price objective on Parker-Hannifin from $665.00 to $715.00 and gave the stock an "outperform" rating in a research report on Thursday, October 17th. Wells Fargo & Company upped their target price on shares of Parker-Hannifin from $640.00 to $710.00 and gave the company an "overweight" rating in a research report on Monday, October 7th. Finally, Truist Financial boosted their price target on shares of Parker-Hannifin from $673.00 to $788.00 and gave the company a "buy" rating in a research note on Wednesday, October 9th. Two investment 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 presently has an average rating of "Moderate Buy" and a consensus target price of $673.14.

Parker-Hannifin Stock Up 1.1 %

Parker-Hannifin stock traded up $7.42 during midday trading on Friday, reaching $695.58. The company's stock had a trading volume of 565,643 shares, compared to its average volume of 713,198. The business has a 50-day simple moving average of $623.97 and a 200-day simple moving average of $569.83. The company has a market cap of $89.54 billion, a P/E ratio of 31.42, a P/E/G ratio of 2.80 and a beta of 1.43. Parker-Hannifin Co. has a fifty-two week low of $410.86 and a fifty-two week high of $709.63. 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 (NYSE:PH - Get Free Report) last posted its earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, topping the consensus estimate of $6.14 by $0.06. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The firm had revenue of $4.90 billion during the quarter, compared to analysts' expectations of $4.90 billion. During the same quarter in the previous year, the business 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 expect that Parker-Hannifin Co. will post 26.79 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

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 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 0.94%. Parker-Hannifin's dividend payout ratio (DPR) is presently 29.45%.

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.