Buckley Wealth Management LLC Invests $569,000 in Parker-Hannifin Co. (NYSE:PH)

Buckley Wealth Management LLC bought a new stake in Parker-Hannifin Co. (NYSE:PH - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 900 shares of the industrial products company's stock, valued at approximately $569,000.

A number of other hedge funds have also made changes to their positions in the stock. West Branch Capital LLC purchased a new position in Parker-Hannifin in the third quarter valued at about $25,000. Bangor Savings Bank grew its stake 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 valued at $28,000 after buying an additional 31 shares in the last quarter. Addison Advisors LLC acquired a new position in Parker-Hannifin in the second quarter worth approximately $25,000. Harbor Investment Advisory LLC raised its position in Parker-Hannifin by 60.6% during the first quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company's stock valued at $29,000 after acquiring an additional 20 shares in the last quarter. Finally, Northwest Investment Counselors LLC acquired a new stake in Parker-Hannifin in the first quarter valued at approximately $31,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of Parker-Hannifin stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the sale, the director now owns 3,900 shares in the company, valued at $2,299,947. 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 available at this link. In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of the firm's stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $589.73, for a total transaction 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 trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Berend Bracht sold 850 shares of the company's 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 sale, the vice president now owns 3,350 shares in the company, valued at approximately $1,986,282. This represents 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 Stock Performance

PH stock traded up $0.60 on Friday, reaching $640.44. 612,423 shares of the company were exchanged, compared to its average volume of 638,305. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.93 and a quick ratio of 0.55. Parker-Hannifin Co. has a 12 month low of $362.49 and a 12 month high of $646.60. The stock's fifty day moving average price is $606.31 and its 200 day moving average price is $559.96. The firm has a market capitalization of $82.32 billion, a PE ratio of 30.18, a PEG ratio of 2.61 and a beta of 1.43.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The industrial products company reported $6.77 EPS for the quarter, beating analysts' consensus estimates of $6.22 by $0.55. Parker-Hannifin had a net margin of 14.27% and a return on equity of 29.08%. The business had revenue of $5.19 billion during the quarter, compared to analyst estimates of $5.08 billion. During the same quarter in the prior year, the business earned $6.08 earnings per share. The firm's revenue for the quarter was up 1.8% on a year-over-year basis. On average, research analysts anticipate 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. Stockholders of record on Wednesday, August 28th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date was Wednesday, August 28th. Parker-Hannifin's dividend payout ratio is presently 30.73%.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on PH shares. Mizuho raised their price target on shares of Parker-Hannifin from $665.00 to $715.00 and gave the company an "outperform" rating in a report on Thursday. Robert W. Baird raised their target price on Parker-Hannifin from $622.00 to $654.00 and gave the company an "outperform" rating in a report on Friday, August 9th. Barclays upped their price target on Parker-Hannifin from $650.00 to $703.00 and gave the stock an "overweight" rating in a research note on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft raised their price objective on Parker-Hannifin from $595.00 to $645.00 and gave the company a "buy" rating in a research note on Friday, August 9th. Finally, Stifel Nicolaus upped their target price on Parker-Hannifin from $633.00 to $691.00 and gave the stock a "buy" rating in a research report on Wednesday, October 2nd. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $660.57.

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.