Tyler Stone Wealth Management Buys 14,369 Shares of Parker-Hannifin Co. (NYSE:PH)

Tyler Stone Wealth Management grew its stake in Parker-Hannifin Co. (NYSE:PH - Free Report) by 104.6% during the third quarter, according to its most recent 13F filing with the SEC. The firm owned 28,105 shares of the industrial products company's stock after acquiring an additional 14,369 shares during the period. Parker-Hannifin comprises 3.4% of Tyler Stone Wealth Management's investment portfolio, making the stock its 5th biggest holding. Tyler Stone Wealth Management's holdings in Parker-Hannifin were worth $17,758,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Vanguard Group Inc. raised its stake 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 valued at $5,872,694,000 after acquiring an additional 105,475 shares during the period. Boston Partners raised its stake in shares of Parker-Hannifin by 4.1% in the 1st quarter. Boston Partners now owns 1,111,720 shares of the industrial products company's stock valued at $617,878,000 after acquiring an additional 43,535 shares during the period. Legal & General Group Plc increased its stake in Parker-Hannifin by 1.3% during the 2nd 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 stake in Parker-Hannifin by 23.0% during the 2nd quarter. AMF Tjanstepension AB now owns 758,262 shares of the industrial products company's stock worth $383,594,000 after buying an additional 141,862 shares during the period. Finally, Bank of Montreal Can increased its stake in Parker-Hannifin by 11.6% during the 2nd quarter. Bank of Montreal Can now owns 735,755 shares of the industrial products company's stock worth $378,572,000 after buying an additional 76,629 shares during the period. 82.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

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 directly owns 3,900 shares in the company, valued at approximately $2,299,947. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,430 shares of the firm's stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the completion of the transaction, the vice president now directly owns 5,465 shares in the company, valued at approximately $3,831,839.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Joseph Scaminace sold 1,751 shares of the firm's 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 in the company, valued at $2,299,947. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,678 shares of company stock worth $13,840,428 in the last 90 days. 0.39% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

PH has been the topic of several recent research reports. TD Cowen upped their target price on shares of Parker-Hannifin from $500.00 to $520.00 and gave the stock a "hold" rating in a research note on Wednesday, September 11th. Stifel Nicolaus upped their target price 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. Evercore ISI boosted their price target on shares of Parker-Hannifin from $620.00 to $656.00 and gave the stock an "outperform" rating in a report on Monday, August 19th. Robert W. Baird boosted 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, Truist Financial boosted their price target on shares of Parker-Hannifin from $673.00 to $788.00 and gave the stock a "buy" rating in a report on Wednesday, October 9th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $673.14.

Parker-Hannifin Stock Performance

Parker-Hannifin stock traded up $7.42 during trading hours on Friday, reaching $695.58. 565,643 shares of the stock were exchanged, compared to its average volume of 713,198. The stock has a market cap of $89.54 billion, a P/E ratio of 31.42, a P/E/G ratio of 2.80 and a beta of 1.43. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96. Parker-Hannifin Co. has a 52-week low of $410.86 and a 52-week high of $709.63. The firm's 50 day moving average is $623.97 and its 200 day moving average is $569.83.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, topping analysts' consensus estimates of $6.14 by $0.06. The company had revenue of $4.90 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the prior year, the firm earned $5.96 EPS. Analysts predict that Parker-Hannifin Co. will post 26.79 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 0.94%. Parker-Hannifin's dividend payout ratio is presently 29.45%.

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.