Evexia Wealth LLC Cuts Position in Parker-Hannifin Co. (NYSE:PH)

Evexia Wealth LLC lowered its stake in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 6.2% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,980 shares of the industrial products company's stock after selling 1,318 shares during the quarter. Parker-Hannifin comprises approximately 4.5% of Evexia Wealth LLC's holdings, making the stock its 5th largest holding. Evexia Wealth LLC's holdings in Parker-Hannifin were worth $12,581,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of the stock. Vanguard Group Inc. raised its stake in shares of Parker-Hannifin by 1.0% in the first quarter. Vanguard Group Inc. now owns 10,566,391 shares of the industrial products company's stock valued at $5,872,694,000 after purchasing an additional 105,475 shares in the last quarter. Boston Partners raised its stake in shares of Parker-Hannifin by 4.1% in the 1st quarter. Boston Partners now owns 1,111,720 shares of the industrial products company's stock valued at $617,878,000 after buying an additional 43,535 shares in the last quarter. Legal & General Group Plc lifted its holdings in shares of Parker-Hannifin by 1.3% during the 2nd quarter. Legal & General Group Plc now owns 985,280 shares of the industrial products company's stock worth $498,366,000 after acquiring an additional 12,615 shares during the period. AMF Tjanstepension AB boosted its position in shares of Parker-Hannifin by 23.0% during the 2nd quarter. AMF Tjanstepension AB now owns 758,262 shares of the industrial products company's stock valued at $383,594,000 after acquiring an additional 141,862 shares in the last quarter. Finally, Bank of Montreal Can increased its stake in Parker-Hannifin by 11.6% in the second quarter. Bank of Montreal Can now owns 735,755 shares of the industrial products company's stock valued at $378,572,000 after acquiring an additional 76,629 shares during the period. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

PH has been the topic of a number of recent research reports. Raymond James lifted their price objective on Parker-Hannifin from $610.00 to $650.00 and gave the company an "outperform" rating in a report on Wednesday, September 4th. Truist Financial upped their price target on Parker-Hannifin from $673.00 to $788.00 and gave the company a "buy" rating in a research report on Wednesday. Deutsche Bank Aktiengesellschaft lifted their price objective on Parker-Hannifin from $595.00 to $645.00 and gave the company a "buy" rating in a report on Friday, August 9th. Robert W. Baird upped their target price on shares of Parker-Hannifin from $622.00 to $654.00 and gave the stock an "outperform" rating in a report on Friday, August 9th. Finally, Barclays lifted their price target on shares of Parker-Hannifin from $650.00 to $703.00 and gave the company an "overweight" rating in a report on Wednesday, October 2nd. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $649.86.

Parker-Hannifin Trading Up 0.9 %

Parker-Hannifin stock traded up $5.63 during mid-day trading on Friday, hitting $637.15. The stock had a trading volume of 485,506 shares, compared to its average volume of 640,334. The stock has a 50-day simple moving average of $595.82 and a two-hundred day simple moving average of $556.88. The company has a current ratio of 0.93, a quick ratio of 0.55 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $81.90 billion, a PE ratio of 30.03, a P/E/G ratio of 2.57 and a beta of 1.43. Parker-Hannifin Co. has a 12 month low of $362.49 and a 12 month high of $640.00.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The industrial products company reported $6.77 earnings per share for the quarter, beating the consensus estimate of $6.22 by $0.55. The business had revenue of $5.19 billion for the quarter, compared to analyst estimates of $5.08 billion. Parker-Hannifin had a net margin of 14.27% and a return on equity of 29.08%. Parker-Hannifin's revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the business posted $6.08 earnings per share. As a group, sell-side analysts forecast that Parker-Hannifin Co. will post 26.64 EPS for the current year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Wednesday, August 28th were paid a $1.63 dividend. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.02%. Parker-Hannifin's dividend payout ratio (DPR) is presently 30.73%.

Insider Activity at Parker-Hannifin

In related news, VP Berend Bracht sold 850 shares of the company's stock in a transaction 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 sale, the vice president now owns 3,350 shares in the company, valued at $1,986,282. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, Director Joseph Scaminace sold 1,751 shares of the company's stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $589.73, for a total value of $1,032,617.23. Following the completion of the transaction, the director now owns 3,900 shares in the company, valued at $2,299,947. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Berend Bracht sold 850 shares of the firm's stock in a transaction 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 sale, the vice president now owns 3,350 shares in the company, valued at approximately $1,986,282. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.03% of the stock is currently owned by corporate insiders.

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.