Marcum Wealth LLC Sells 42 Shares of Parker-Hannifin Co. (NYSE:PH)

Marcum Wealth LLC lowered its position in Parker-Hannifin Co. (NYSE:PH) by 0.6% in the third quarter, HoldingsChannel.com reports. The fund owned 6,494 shares of the industrial products company’s stock after selling 42 shares during the quarter. Marcum Wealth LLC’s holdings in Parker-Hannifin were worth $4,103,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of PH. Bangor Savings Bank increased its position in Parker-Hannifin by 238.5% during the third quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 31 shares during the period. Addison Advisors LLC bought a new stake in shares of Parker-Hannifin during the second quarter worth $25,000. Harbor Investment Advisory LLC grew its position in 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 during the last quarter. Northwest Investment Counselors LLC bought a new position in Parker-Hannifin in the 1st quarter valued at approximately $31,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in Parker-Hannifin during the 4th quarter worth approximately $30,000. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Trading Up 0.9 %

NYSE:PH opened at $632.79 on Thursday. Parker-Hannifin Co. has a 52 week low of $362.49 and a 52 week high of $639.87. The company’s 50 day moving average price is $590.07 and its 200-day moving average price is $555.21. The stock has a market cap of $81.34 billion, a price-to-earnings ratio of 29.82, a PEG ratio of 2.55 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.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, August 8th. The industrial products company reported $6.77 EPS for the quarter, beating the consensus estimate of $6.22 by $0.55. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. The business had revenue of $5.19 billion for the quarter, compared to the consensus estimate of $5.08 billion. During the same period in the previous year, the business earned $6.08 earnings per share. The business’s revenue was up 1.8% on a year-over-year basis. On average, equities research analysts forecast that Parker-Hannifin Co. will post 26.64 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Wednesday, August 28th were paid a $1.63 dividend. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $6.52 annualized dividend and a yield of 1.03%. Parker-Hannifin’s dividend payout ratio (DPR) is 30.73%.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. TD Cowen increased their price objective on shares of Parker-Hannifin from $500.00 to $520.00 and gave the stock a “hold” rating in a research report on Wednesday, September 11th. Wells Fargo & Company boosted their target price on Parker-Hannifin from $640.00 to $710.00 and gave the company an “overweight” rating in a research report on Monday. Truist Financial lifted their price target on shares of Parker-Hannifin from $673.00 to $788.00 and gave the company a “buy” rating in a research report on Wednesday. Stifel Nicolaus boosted their price objective on Parker-Hannifin from $633.00 to $691.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Finally, Raymond James increased their target price on shares of Parker-Hannifin from $610.00 to $650.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $649.86.

Insider Transactions at Parker-Hannifin

In related news, Director Joseph Scaminace sold 1,751 shares of the stock in a transaction that occurred 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 transaction, the director now owns 3,900 shares in the company, valued at approximately $2,299,947. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, VP Berend Bracht sold 850 shares of the firm’s stock in a transaction that occurred 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 transaction, the vice president now owns 3,350 shares in the company, valued at $1,986,282. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Joseph Scaminace sold 1,751 shares of the stock in a transaction that occurred 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 directly owns 3,900 shares of the company’s stock, valued at approximately $2,299,947. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.03% of the company’s stock.

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.