Parker-Hannifin Co. (NYSE:PH) Shares Sold by OneDigital Investment Advisors LLC

OneDigital Investment Advisors LLC cut its position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 32.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 8,100 shares of the industrial products company's stock after selling 3,974 shares during the period. OneDigital Investment Advisors LLC's holdings in Parker-Hannifin were worth $5,117,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in PH. Addison Advisors LLC bought a new position in shares of Parker-Hannifin in the second quarter worth about $25,000. West Branch Capital LLC purchased a new stake in shares of Parker-Hannifin in the 3rd quarter worth approximately $25,000. Bangor Savings Bank boosted its stake in shares of 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 in the last quarter. Fortitude Family Office LLC increased its holdings in Parker-Hannifin by 346.7% during the second quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company's stock valued at $34,000 after buying an additional 52 shares during the period. Finally, Crewe Advisors LLC bought a new position in Parker-Hannifin in the first quarter worth approximately $38,000. 82.44% of the stock is currently owned by institutional investors.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, COO Andrew D. Ross sold 4,864 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $706.04, for a total transaction of $3,434,178.56. Following the transaction, the chief operating officer now owns 13,120 shares in the company, valued at approximately $9,263,244.80. This represents a 27.05 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Berend Bracht sold 850 shares of the firm'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 directly owns 3,350 shares in the company, valued at approximately $1,986,282. The trade was a 20.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 18,927 shares of company stock worth $12,807,811 over the last quarter. 0.39% of the stock is currently owned by insiders.

Analyst Ratings Changes

PH has been the topic of a number of analyst reports. Mizuho lifted their price target on Parker-Hannifin from $665.00 to $715.00 and gave the company an "outperform" rating in a report on Thursday, October 17th. StockNews.com upgraded shares of Parker-Hannifin from a "hold" rating to a "buy" rating in a report on Saturday, October 12th. Evercore ISI raised their price target on shares of Parker-Hannifin from $620.00 to $656.00 and gave the company an "outperform" rating in a report on Monday, August 19th. Truist Financial boosted their price objective on shares of Parker-Hannifin from $673.00 to $788.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Finally, Argus raised their target price on shares of Parker-Hannifin from $650.00 to $710.00 and gave the company a "buy" rating in a research note on Tuesday, November 5th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $688.07.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock traded up $1.28 on Friday, reaching $698.91. 530,753 shares of the stock were exchanged, compared to its average volume of 645,390. Parker-Hannifin Co. has a twelve month low of $425.20 and a twelve month high of $711.60. The business has a 50 day moving average price of $636.19 and a two-hundred day moving average price of $574.94. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $89.96 billion, a price-to-earnings ratio of 31.57, a PEG ratio of 2.85 and a beta of 1.43.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, beating the consensus estimate of $6.14 by $0.06. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The business had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.90 billion. During the same period in the prior year, the firm earned $5.96 EPS. The business's revenue for the quarter was up 1.2% on a year-over-year basis. Analysts anticipate that Parker-Hannifin Co. will post 26.77 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders 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 dividend yield of 0.93%. 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.