Tidal Investments LLC Acquires 946 Shares of Parker-Hannifin Co. (NYSE:PH)

Tidal Investments LLC raised its holdings in Parker-Hannifin Co. (NYSE:PH - Free Report) by 10.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 9,683 shares of the industrial products company's stock after acquiring an additional 946 shares during the period. Tidal Investments LLC's holdings in Parker-Hannifin were worth $6,118,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of PH. Wilmington Savings Fund Society FSB grew its stake in shares of Parker-Hannifin by 176.8% during the third quarter. Wilmington Savings Fund Society FSB now owns 9,108 shares of the industrial products company's stock worth $5,755,000 after buying an additional 5,817 shares during the last quarter. World Investment Advisors LLC acquired a new stake in shares of Parker-Hannifin during the 3rd quarter valued at $584,000. Sanctuary Advisors LLC grew its position in Parker-Hannifin by 32.5% during the 3rd quarter. Sanctuary Advisors LLC now owns 43,030 shares of the industrial products company's stock worth $27,187,000 after acquiring an additional 10,552 shares during the last quarter. Stock Yards Bank & Trust Co. bought a new stake in Parker-Hannifin during the 3rd quarter worth $217,000. Finally, Anchor Investment Management LLC increased its holdings in Parker-Hannifin by 10.5% in the 3rd quarter. Anchor Investment Management LLC now owns 317 shares of the industrial products company's stock worth $200,000 after purchasing an additional 30 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company's stock.

Parker-Hannifin Stock Down 1.6 %

NYSE:PH traded down $10.75 during trading hours on Friday, reaching $671.82. The company had a trading volume of 626,889 shares, compared to its average volume of 634,676. Parker-Hannifin Co. has a twelve month low of $440.00 and a twelve month high of $712.42. 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 cap of $86.48 billion, a price-to-earnings ratio of 30.34, a P/E/G ratio of 2.77 and a beta of 1.43. The business's 50-day simple moving average is $668.62 and its two-hundred day simple moving average is $595.71.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its earnings results 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 return on equity of 27.95% and a net margin of 14.47%. The company had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same period last year, the business posted $5.96 EPS. The firm's revenue for the quarter was up 1.2% compared to the same quarter last year. On average, equities analysts expect that Parker-Hannifin Co. will post 26.75 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 8th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Friday, November 8th. This represents a $6.52 annualized dividend and a yield of 0.97%. Parker-Hannifin's payout ratio is 29.45%.

Insider Buying and Selling at Parker-Hannifin

In related news, VP Thomas C. Gentile sold 2,430 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the transaction, the vice president now owns 5,465 shares of the company's stock, valued at $3,831,839.40. The trade was a 30.78 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, VP Joseph R. Leonti sold 5,877 shares of the company's stock in a transaction on Friday, November 1st. The stock was sold at an average price of $631.04, for a total value of $3,708,622.08. Following the sale, the vice president now owns 15,350 shares of the company's stock, valued at $9,686,464. This trade represents a 27.69 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,077 shares of company stock valued at $12,303,829. Corporate insiders own 0.39% of the company's stock.

Wall Street Analyst Weigh In

PH has been the topic of a number of recent research reports. Jefferies Financial Group lifted their price target on Parker-Hannifin from $765.00 to $810.00 and gave the company a "buy" rating in a research note on Friday, December 6th. Raymond James lifted their target price on shares of Parker-Hannifin from $610.00 to $650.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 4th. Mizuho upped their price target on shares of Parker-Hannifin from $665.00 to $715.00 and gave the company an "outperform" rating in a research report on Thursday, October 17th. Robert W. Baird lifted their price target on shares of Parker-Hannifin from $695.00 to $710.00 and gave the stock an "outperform" rating in a report on Friday, November 1st. Finally, StockNews.com upgraded Parker-Hannifin from a "hold" rating to a "buy" rating in a report on Saturday, October 12th. Two equities research analysts have rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $709.65.

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.