Nicholson Wealth Management Group LLC Invests $915,000 in Parker-Hannifin Co. (NYSE:PH)

Nicholson Wealth Management Group LLC purchased a new stake in Parker-Hannifin Co. (NYSE:PH - Free Report) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 1,448 shares of the industrial products company's stock, valued at approximately $915,000.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. grew its holdings in shares of Parker-Hannifin by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 10,566,391 shares of the industrial products company's stock worth $5,872,694,000 after acquiring an additional 105,475 shares during the last quarter. Boston Partners lifted its stake in Parker-Hannifin by 4.1% during the first 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 boosted its holdings in shares of Parker-Hannifin by 1.3% in the second quarter. Legal & General Group Plc now owns 985,280 shares of the industrial products company's stock worth $498,366,000 after buying an additional 12,615 shares during the period. AMF Tjanstepension AB increased its position in shares of Parker-Hannifin by 23.0% in the second quarter. AMF Tjanstepension AB now owns 758,262 shares of the industrial products company's stock worth $383,594,000 after acquiring an additional 141,862 shares in the last quarter. Finally, Bank of Montreal Can raised its holdings in shares of Parker-Hannifin by 11.6% during 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 owned by institutional investors and hedge funds.

Parker-Hannifin Stock Down 0.4 %

Shares of NYSE:PH traded down $2.40 on Friday, reaching $621.74. The company had a trading volume of 375,262 shares, compared to its average volume of 634,647. The company has a quick ratio of 0.55, a current ratio of 0.93 and a debt-to-equity ratio of 0.59. The stock has a market capitalization of $80.00 billion, a P/E ratio of 28.48, a P/E/G ratio of 2.55 and a beta of 1.43. The stock has a 50-day moving average price of $610.56 and a 200 day moving average price of $561.90. Parker-Hannifin Co. has a twelve month low of $362.49 and a twelve month high of $646.60.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its earnings results on Thursday, August 8th. The industrial products company reported $6.77 earnings per share for the quarter, topping 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 firm had revenue of $5.19 billion during the quarter, compared to analyst estimates of $5.08 billion. During the same period in the previous year, the company earned $6.08 EPS. The company's revenue for the quarter was up 1.8% on a year-over-year basis. On average, equities analysts expect that Parker-Hannifin Co. will post 26.68 EPS for the current year.

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 8th will be issued a $1.63 dividend. The ex-dividend date is Friday, November 8th. This represents a $6.52 annualized dividend and a yield of 1.05%. Parker-Hannifin's dividend payout ratio (DPR) is presently 29.92%.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on PH shares. Stifel Nicolaus raised their price objective on shares of Parker-Hannifin from $633.00 to $691.00 and gave the stock a "buy" rating in a research note on Wednesday, October 2nd. 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, October 9th. Barclays lifted their target price on Parker-Hannifin from $650.00 to $703.00 and gave the company an "overweight" rating in a research note on Wednesday, October 2nd. Robert W. Baird upped 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. Finally, Raymond James raised their price target on shares of Parker-Hannifin from $610.00 to $650.00 and gave the stock an "outperform" rating in a report on Wednesday, September 4th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $660.57.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of the firm'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 value of $503,982.00. Following the sale, the vice president now owns 3,350 shares of the company's stock, valued at $1,986,282. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Director Joseph Scaminace sold 1,751 shares of Parker-Hannifin stock in a transaction dated 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 sale, the director now directly owns 3,900 shares of the company's stock, valued at $2,299,947. This trade 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 this hyperlink. 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 transaction, the vice president now directly owns 3,350 shares of the company's stock, 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. Company insiders own 0.39% of the company's stock.

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.