Stephens Inc. AR Increases Position in Parker-Hannifin Co. (NYSE:PH)

Stephens Inc. AR raised its position in Parker-Hannifin Co. (NYSE:PH) by 7.1% during the third quarter, Holdings Channel reports. The firm owned 3,472 shares of the industrial products company’s stock after buying an additional 230 shares during the quarter. Stephens Inc. AR’s holdings in Parker-Hannifin were worth $2,194,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CVA Family Office LLC raised its position in Parker-Hannifin by 3.9% in the third quarter. CVA Family Office LLC now owns 425 shares of the industrial products company’s stock valued at $269,000 after purchasing an additional 16 shares during the period. Sonoma Private Wealth LLC increased its position in shares of Parker-Hannifin by 2.9% during the third quarter. Sonoma Private Wealth LLC now owns 667 shares of the industrial products company’s stock worth $421,000 after acquiring an additional 19 shares during the period. American Trust increased its position 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. TFG Advisers LLC increased its position in shares of Parker-Hannifin by 0.9% during the second quarter. TFG Advisers LLC now owns 2,171 shares of the industrial products company’s stock worth $1,098,000 after acquiring an additional 20 shares during the period. Finally, U.S. Capital Wealth Advisors LLC increased its position in shares of Parker-Hannifin by 0.5% during the second quarter. U.S. Capital Wealth Advisors LLC now owns 4,440 shares of the industrial products company’s stock worth $2,246,000 after acquiring an additional 22 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on PH shares. Mizuho upped their price objective on Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Stifel Nicolaus increased their target price on Parker-Hannifin from $633.00 to $691.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. TD Cowen increased their target price on Parker-Hannifin from $500.00 to $520.00 and gave the company a “hold” rating in a report on Wednesday, September 11th. Robert W. Baird increased their target price on Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a report on Friday. Finally, Raymond James increased their target price on Parker-Hannifin from $610.00 to $650.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $664.57.

Insider Transactions at Parker-Hannifin

In related news, Director Joseph Scaminace sold 1,751 shares of the 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 of the company’s stock, valued at $2,299,947. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, VP Berend Bracht sold 850 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $592.92, for a total transaction of $503,982.00. Following the completion of the transaction, the vice president now directly owns 3,350 shares of the company’s stock, valued at $1,986,282. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Joseph Scaminace sold 1,751 shares of the 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 transaction, the director now directly owns 3,900 shares of the company’s stock, 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 own 0.39% of the company’s stock.

Parker-Hannifin Stock Performance

NYSE PH opened at $635.03 on Monday. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.55. Parker-Hannifin Co. has a 1 year low of $395.00 and a 1 year high of $646.60. The company has a market capitalization of $81.71 billion, a PE ratio of 28.68, a P/E/G ratio of 2.57 and a beta of 1.43. The company has a fifty day moving average of $615.46 and a two-hundred day moving average of $565.22.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, topping the consensus estimate of $6.14 by $0.06. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The business had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same quarter in the prior year, the firm earned $5.96 earnings per share. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. As a group, analysts expect that Parker-Hannifin Co. will post 26.67 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $6.52 annualized dividend and a dividend yield of 1.03%. Parker-Hannifin’s dividend payout ratio (DPR) is 29.45%.

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.