Northwest Investment Counselors LLC Makes New $39,000 Investment in Parker-Hannifin Co. (NYSE:PH)

Northwest Investment Counselors LLC bought a new position in shares of Parker-Hannifin Co. (NYSE:PH) during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund bought 61 shares of the industrial products company’s stock, valued at approximately $39,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. International Assets Investment Management LLC boosted its stake in shares of Parker-Hannifin by 11.5% during the 1st quarter. International Assets Investment Management LLC now owns 532 shares of the industrial products company’s stock worth $293,000 after acquiring an additional 55 shares in the last quarter. Harbor Investment Advisory LLC boosted its stake in shares of Parker-Hannifin by 60.6% during the 1st quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 20 shares in the last quarter. West Paces Advisors Inc. boosted its stake in shares of Parker-Hannifin by 87.5% during the 1st quarter. West Paces Advisors Inc. now owns 195 shares of the industrial products company’s stock worth $108,000 after acquiring an additional 91 shares in the last quarter. Mcdonald Partners LLC purchased a new stake in shares of Parker-Hannifin during the 1st quarter worth approximately $208,000. Finally, GoalVest Advisory LLC boosted its stake in shares of Parker-Hannifin by 40.0% during 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 in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Trading Down 1.6 %

PH stock opened at $629.28 on Wednesday. The company has a market cap of $80.97 billion, a price-to-earnings ratio of 28.88, a PEG ratio of 2.60 and a beta of 1.43. The company has a quick ratio of 0.55, a current ratio of 0.93 and a debt-to-equity ratio of 0.59. The business has a fifty day simple moving average of $608.89 and a 200-day simple moving average of $560.99. Parker-Hannifin Co. has a 52 week low of $362.49 and a 52 week high of $646.60.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, August 8th. The industrial products company reported $6.77 EPS for the quarter, topping analysts’ consensus estimates of $6.22 by $0.55. The business had revenue of $5.19 billion during the quarter, compared to the consensus estimate of $5.08 billion. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the prior year, the firm posted $6.08 EPS. On average, equities research analysts expect that Parker-Hannifin Co. will post 26.68 EPS for the current year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Wednesday, August 28th were issued a dividend of $1.63 per share. The ex-dividend date was Wednesday, August 28th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.04%. Parker-Hannifin’s payout ratio is 29.92%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on PH shares. Deutsche Bank Aktiengesellschaft boosted their price target on Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Mizuho upped their target price on Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. KeyCorp upped their target price on Parker-Hannifin from $640.00 to $725.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Finally, Raymond James upped their target price on Parker-Hannifin from $610.00 to $650.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $660.57.

Insider Activity at Parker-Hannifin

In related news, VP Berend Bracht sold 850 shares of the stock in a transaction on Monday, August 26th. The stock was 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, VP Berend Bracht sold 850 shares of the stock in a transaction on Monday, August 26th. The stock was 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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. 0.39% of the stock is owned by insiders.

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.