High Net Worth Advisory Group LLC Grows Position in Parker-Hannifin Co. (NYSE:PH)

High Net Worth Advisory Group LLC lifted its holdings in Parker-Hannifin Co. (NYSE:PH - Free Report) by 96.5% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,694 shares of the industrial products company's stock after acquiring an additional 2,305 shares during the period. High Net Worth Advisory Group LLC's holdings in Parker-Hannifin were worth $2,966,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Addison Advisors LLC bought a new stake in shares of Parker-Hannifin in the 2nd quarter worth $25,000. Bangor Savings Bank lifted its holdings in Parker-Hannifin by 238.5% during the third 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. Harbor Investment Advisory LLC increased its stake in shares of Parker-Hannifin by 60.6% in the first quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company's stock worth $29,000 after purchasing an additional 20 shares in the last quarter. Newbridge Financial Services Group Inc. bought a new stake in shares of Parker-Hannifin in the fourth quarter valued at approximately $30,000. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Parker-Hannifin during the 1st quarter valued at approximately $31,000. Institutional investors own 82.44% of the company's stock.

Insider Transactions at Parker-Hannifin

In other news, VP Berend Bracht sold 850 shares of the business's 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 directly owns 3,350 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through this hyperlink. In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of the stock in a transaction on Thursday, August 15th. The stock was 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 approximately $2,299,947. This represents 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 link. Also, VP Berend Bracht sold 850 shares of the business's stock in a transaction on Monday, August 26th. The shares were 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. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.03% of the stock is currently owned by company insiders.

Parker-Hannifin Trading Up 1.0 %

NYSE:PH traded up $6.38 during trading hours on Monday, reaching $643.53. The company's stock had a trading volume of 485,316 shares, compared to its average volume of 639,764. The firm has a 50-day simple moving average of $595.82 and a 200-day simple moving average of $556.92. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.55 and a current ratio of 0.93. Parker-Hannifin Co. has a 1 year low of $362.49 and a 1 year high of $645.90. The firm has a market capitalization of $82.72 billion, a price-to-earnings ratio of 30.03, a PEG ratio of 2.57 and a beta of 1.43.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its earnings results 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. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. The company had revenue of $5.19 billion during the quarter, compared to analysts' expectations of $5.08 billion. During the same period in the prior year, the business posted $6.08 EPS. Parker-Hannifin's quarterly revenue was up 1.8% compared to the same quarter last year. Research analysts expect that Parker-Hannifin Co. will post 26.64 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Wednesday, August 28th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.01%. The ex-dividend date was Wednesday, August 28th. Parker-Hannifin's payout ratio is 30.73%.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on PH. KeyCorp increased their target price on Parker-Hannifin from $640.00 to $725.00 and gave the stock an "overweight" rating in a research report on Monday. Barclays increased their price target on shares of Parker-Hannifin from $650.00 to $703.00 and gave the stock an "overweight" rating in a report on Wednesday, October 2nd. Evercore ISI upped their target price on shares of Parker-Hannifin from $620.00 to $656.00 and gave the stock an "outperform" rating in a report on Monday, August 19th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Parker-Hannifin from $595.00 to $645.00 and gave the company a "buy" rating in a report on Friday, August 9th. Finally, TD Cowen upped their price target on shares of Parker-Hannifin from $500.00 to $520.00 and gave the stock a "hold" rating in a report on Wednesday, September 11th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $655.93.

Parker-Hannifin 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.