Greenleaf Trust Boosts Stock Position in Parker-Hannifin Co. (NYSE:PH)

Greenleaf Trust raised its holdings in Parker-Hannifin Co. (NYSE:PH) by 3.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,918 shares of the industrial products company’s stock after purchasing an additional 110 shares during the quarter. Greenleaf Trust’s holdings in Parker-Hannifin were worth $1,844,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. CVA Family Office LLC increased its holdings in Parker-Hannifin by 3.9% during the third quarter. CVA Family Office LLC now owns 425 shares of the industrial products company’s stock worth $269,000 after buying an additional 16 shares during the last quarter. Fidelis Capital Partners LLC grew its position in shares of Parker-Hannifin by 2.3% during the 1st quarter. Fidelis Capital Partners LLC now owns 851 shares of the industrial products company’s stock valued at $473,000 after acquiring an additional 19 shares during the period. Sonoma Private Wealth LLC grew its position in shares of Parker-Hannifin by 2.9% during the 3rd quarter. Sonoma Private Wealth LLC now owns 667 shares of the industrial products company’s stock valued at $421,000 after acquiring an additional 19 shares during the period. GoalVest Advisory LLC increased 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 purchasing an additional 20 shares during the last quarter. Finally, American Trust raised its holdings in shares of Parker-Hannifin by 3.2% in the 1st quarter. American Trust now owns 649 shares of the industrial products company’s stock worth $361,000 after purchasing an additional 20 shares during the period. 82.44% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of the company’s stock in a transaction that occurred on 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 completion of the transaction, the director now owns 3,900 shares of the company’s stock, valued at $2,299,947. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Joseph Scaminace sold 1,751 shares of Parker-Hannifin 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 sale, the director now owns 3,900 shares in the company, valued at $2,299,947. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, VP Berend Bracht sold 850 shares of the business’s 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 transaction, the vice president now owns 3,350 shares in the company, valued at $1,986,282. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.39% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently commented on PH shares. Wells Fargo & Company upped their price target on Parker-Hannifin from $640.00 to $710.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. TD Cowen increased their target price 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. Raymond James boosted their price target on shares of Parker-Hannifin from $610.00 to $650.00 and gave the company an “outperform” rating in a research report on Wednesday, September 4th. Mizuho raised their price objective on shares of Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. Finally, Robert W. Baird boosted their target price on shares of Parker-Hannifin from $622.00 to $654.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $660.57.

Parker-Hannifin Price Performance

Shares of Parker-Hannifin stock opened at $629.70 on Thursday. The stock has a market capitalization of $81.02 billion, a price-to-earnings ratio of 28.90, a price-to-earnings-growth ratio of 2.60 and a beta of 1.43. The company has a fifty day moving average of $609.91 and a 200-day moving average of $561.47. Parker-Hannifin Co. has a 52-week low of $362.49 and a 52-week high of $646.60. 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 earnings results 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. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. The company had revenue of $5.19 billion during the quarter, compared to analyst estimates of $5.08 billion. During the same quarter in the previous year, the company posted $6.08 EPS. Parker-Hannifin’s revenue for the quarter was up 1.8% on a year-over-year basis. 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. Shareholders of record on Wednesday, August 28th were given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend was Wednesday, August 28th. Parker-Hannifin’s payout ratio is 29.92%.

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.