Benjamin Edwards Inc. Has $2.49 Million Stock Position in Parker-Hannifin Co. (NYSE:PH)

Benjamin Edwards Inc. boosted its holdings in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 827.3% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,941 shares of the industrial products company's stock after acquiring an additional 3,516 shares during the quarter. Benjamin Edwards Inc.'s holdings in Parker-Hannifin were worth $2,490,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in PH. West Branch Capital LLC acquired a new position in Parker-Hannifin in the 3rd quarter valued at $25,000. Bangor Savings Bank boosted 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 in the last quarter. Addison Advisors LLC bought a new stake in shares of Parker-Hannifin in the 2nd quarter valued at approximately $25,000. Northwest Investment Counselors LLC bought a new position in shares of Parker-Hannifin during the 3rd quarter worth approximately $39,000. Finally, Opal Wealth Advisors LLC acquired a new stake in Parker-Hannifin in the 2nd quarter valued at $39,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. KeyCorp boosted their price target on shares of Parker-Hannifin from $725.00 to $775.00 and gave the company an "overweight" rating in a research report on Thursday, November 21st. Barclays boosted their price objective on shares of Parker-Hannifin from $703.00 to $800.00 and gave the stock an "overweight" rating in a research report on Thursday. StockNews.com raised Parker-Hannifin from a "hold" rating to a "buy" rating in a research note on Saturday, October 12th. UBS Group assumed coverage on shares of Parker-Hannifin in a research report on Wednesday, November 13th. They set a "buy" rating and a $842.00 price target for the company. Finally, Truist Financial lifted their price objective on Parker-Hannifin from $673.00 to $788.00 and gave the stock a "buy" rating in a research note on Wednesday, October 9th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $697.87.

Parker-Hannifin Stock Down 0.2 %

Shares of NYSE PH traded down $1.68 during trading hours on Thursday, hitting $694.81. The company had a trading volume of 465,696 shares, compared to its average volume of 635,827. 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's 50 day moving average is $661.02 and its 200-day moving average is $588.91. Parker-Hannifin Co. has a 1-year low of $431.98 and a 1-year high of $712.42. The stock has a market capitalization of $89.44 billion, a P/E ratio of 31.40, a price-to-earnings-growth ratio of 2.83 and a beta of 1.43.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.14 by $0.06. The company had revenue of $4.90 billion for the quarter, compared to analysts' expectations of $4.90 billion. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. Parker-Hannifin's quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the prior year, the firm earned $5.96 EPS. On average, analysts expect 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 given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 0.94%. The ex-dividend date of this dividend is Friday, November 8th. Parker-Hannifin's payout ratio is presently 29.45%.

Insider Buying and Selling

In other Parker-Hannifin news, VP Joseph R. Leonti sold 5,877 shares of the stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $631.04, for a total transaction of $3,708,622.08. Following the transaction, the vice president now owns 15,350 shares in the company, valued at $9,686,464. This represents a 27.69 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Thomas C. Gentile sold 2,430 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total value of $1,703,818.80. Following the completion of the sale, the vice president now owns 5,465 shares of the company's stock, valued at approximately $3,831,839.40. This trade represents a 30.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 18,077 shares of company stock valued at $12,303,829. 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.