Cwm LLC Grows Stake in Parker-Hannifin Co. (NYSE:PH)

Cwm LLC raised its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 8.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 4,363 shares of the industrial products company’s stock after acquiring an additional 346 shares during the quarter. Cwm LLC’s holdings in Parker-Hannifin were worth $2,757,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. TD Asset Management Inc boosted its position in Parker-Hannifin by 152.1% during the 1st quarter. TD Asset Management Inc now owns 132,231 shares of the industrial products company’s stock valued at $73,493,000 after acquiring an additional 79,774 shares in the last quarter. Daiwa Securities Group Inc. boosted its position in Parker-Hannifin by 8.5% during the 1st quarter. Daiwa Securities Group Inc. now owns 22,960 shares of the industrial products company’s stock valued at $12,761,000 after acquiring an additional 1,802 shares in the last quarter. Concurrent Investment Advisors LLC boosted its position in Parker-Hannifin by 261.4% during the 1st quarter. Concurrent Investment Advisors LLC now owns 2,515 shares of the industrial products company’s stock valued at $1,397,000 after acquiring an additional 1,819 shares in the last quarter. Oppenheimer Asset Management Inc. boosted its position in Parker-Hannifin by 54.1% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 17,165 shares of the industrial products company’s stock valued at $9,540,000 after acquiring an additional 6,029 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its position in Parker-Hannifin by 16.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 42,523 shares of the industrial products company’s stock valued at $23,634,000 after acquiring an additional 6,013 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

NYSE PH opened at $637.15 on Monday. The stock has a 50-day simple moving average of $595.82 and a two-hundred day simple moving average of $556.92. The firm has a market capitalization of $81.90 billion, a P/E ratio of 30.03, a PEG ratio of 2.57 and a beta of 1.43. Parker-Hannifin Co. has a fifty-two week low of $362.49 and a fifty-two week high of $640.00. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.55 and a current ratio of 0.93.

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

Parker-Hannifin Announces Dividend

The business also recently disclosed 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 of this dividend was Wednesday, August 28th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.02%. Parker-Hannifin’s payout ratio is currently 30.73%.

Insider Buying and Selling at Parker-Hannifin

In related news, VP Berend Bracht sold 850 shares of Parker-Hannifin stock in a transaction dated 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 transaction, the vice president now owns 3,350 shares in the company, valued at $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 is available at the SEC website. In related news, Director Joseph Scaminace sold 1,751 shares of Parker-Hannifin stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $589.73, for a total value of $1,032,617.23. Following the completion of the transaction, the director now owns 3,900 shares in the company, valued at $2,299,947. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Berend Bracht sold 850 shares of Parker-Hannifin stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $592.92, for a total value of $503,982.00. Following the completion of the transaction, the vice president now owns 3,350 shares of the company’s stock, valued at approximately $1,986,282. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 1.03% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently weighed in on PH. Truist Financial raised their price objective on Parker-Hannifin from $673.00 to $788.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Raymond James raised their price objective on Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. Robert W. Baird raised their price objective on Parker-Hannifin from $622.00 to $654.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Evercore ISI raised their price objective on Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Finally, Stifel Nicolaus raised their price objective on Parker-Hannifin from $633.00 to $691.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $649.86.

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.