Parker-Hannifin Co. (NYSE:PH) Shares Bought by Bleakley Financial Group LLC

Bleakley Financial Group LLC grew its position in Parker-Hannifin Co. (NYSE:PH) by 4.7% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,699 shares of the industrial products company’s stock after acquiring an additional 120 shares during the quarter. Bleakley Financial Group LLC’s holdings in Parker-Hannifin were worth $1,705,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of PH. CVA Family Office LLC raised its stake in Parker-Hannifin by 3.9% during the 3rd quarter. CVA Family Office LLC now owns 425 shares of the industrial products company’s stock valued at $269,000 after acquiring an additional 16 shares during the last quarter. Fidelis Capital Partners LLC grew its position in Parker-Hannifin by 2.3% in the 1st quarter. Fidelis Capital Partners LLC now owns 851 shares of the industrial products company’s stock valued at $473,000 after buying an additional 19 shares during the last quarter. Harbor Investment Advisory LLC increased its stake in Parker-Hannifin by 60.6% in the 1st quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock valued at $29,000 after buying an additional 20 shares during the period. GoalVest Advisory LLC lifted its stake in shares of Parker-Hannifin by 40.0% in the 1st quarter. GoalVest Advisory LLC now owns 70 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 20 shares during the period. Finally, American Trust increased its stake in shares of Parker-Hannifin by 3.2% during the first quarter. American Trust now owns 649 shares of the industrial products company’s stock worth $361,000 after acquiring an additional 20 shares during the period. 82.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PH has been the subject of a number of analyst reports. Wells Fargo & Company increased their target price on Parker-Hannifin from $640.00 to $710.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Evercore ISI raised their target price on Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Barclays boosted their target price on shares of Parker-Hannifin from $650.00 to $703.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. StockNews.com upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Finally, TD Cowen boosted their price objective on shares of Parker-Hannifin from $500.00 to $520.00 and gave the stock a “hold” rating in a report on Wednesday, September 11th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $660.57.

Insider Transactions at Parker-Hannifin

In other news, VP Berend Bracht sold 850 shares of the business’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $592.92, for a total transaction of $503,982.00. Following the completion of the sale, the vice president now owns 3,350 shares in the company, valued at approximately $1,986,282. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, VP Berend Bracht sold 850 shares of Parker-Hannifin stock in a transaction on Monday, August 26th. The shares were sold at an average price of $592.92, for a total transaction of $503,982.00. Following the transaction, the vice president now owns 3,350 shares in the company, valued at approximately $1,986,282. The trade was 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 stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $589.73, for a total value of $1,032,617.23. Following the completion of the sale, the director now owns 3,900 shares of the company’s stock, valued at approximately $2,299,947. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.39% of the company’s stock.

Parker-Hannifin Stock Up 0.1 %

PH opened at $640.44 on Friday. The stock has a market capitalization of $82.41 billion, a price-to-earnings ratio of 29.39, a price-to-earnings-growth ratio of 2.61 and a beta of 1.43. Parker-Hannifin Co. has a 12 month low of $362.49 and a 12 month high of $646.60. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.93 and a quick ratio of 0.55. The business has a 50-day moving average of $606.31 and a two-hundred day moving average of $559.95.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, August 8th. The industrial products company reported $6.77 EPS for the quarter, topping the consensus estimate of $6.22 by $0.55. The firm had revenue of $5.19 billion during the quarter, compared to analyst estimates of $5.08 billion. Parker-Hannifin had a net margin of 14.27% and a return on equity of 29.08%. Parker-Hannifin’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.08 earnings per share. On average, research analysts expect that Parker-Hannifin Co. will post 26.64 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Wednesday, August 28th were paid a dividend of $1.63 per share. The ex-dividend date was Wednesday, August 28th. This represents a $6.52 annualized dividend and a yield of 1.02%. Parker-Hannifin’s dividend payout ratio is presently 29.92%.

About Parker-Hannifin

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.