Lake Street Private Wealth LLC Sells 564 Shares of Parker-Hannifin Co. (NYSE:PH)

Lake Street Private Wealth LLC cut its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 50.8% during the 3rd quarter, Holdings Channel.com reports. The fund owned 546 shares of the industrial products company’s stock after selling 564 shares during the period. Lake Street Private Wealth LLC’s holdings in Parker-Hannifin were worth $345,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. CVA Family Office LLC boosted its holdings in Parker-Hannifin by 3.9% in the 3rd 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. Fidelis Capital Partners LLC raised its position in shares of Parker-Hannifin by 2.3% in the first quarter. Fidelis Capital Partners LLC now owns 851 shares of the industrial products company’s stock worth $473,000 after buying an additional 19 shares in the last quarter. Sonoma Private Wealth LLC boosted its stake in Parker-Hannifin by 2.9% during the third quarter. Sonoma Private Wealth LLC now owns 667 shares of the industrial products company’s stock valued at $421,000 after buying an additional 19 shares during the period. GoalVest Advisory LLC grew its position in Parker-Hannifin by 40.0% during the first quarter. GoalVest Advisory LLC now owns 70 shares of the industrial products company’s stock worth $39,000 after buying an additional 20 shares in the last quarter. Finally, American Trust increased its stake in 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 acquiring an additional 20 shares during the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Trading Up 0.1 %

NYSE PH opened at $629.70 on Thursday. The stock has a 50-day moving average of $609.91 and a 200-day moving average of $561.47. The company has a current ratio of 0.93, a quick ratio of 0.55 and a debt-to-equity ratio of 0.59. Parker-Hannifin Co. has a 1-year low of $362.49 and a 1-year high of $646.60. The firm has a market cap of $81.02 billion, a PE ratio of 28.90, a price-to-earnings-growth ratio of 2.60 and a beta of 1.43.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, August 8th. The industrial products company reported $6.77 earnings per share 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 firm had revenue of $5.19 billion during the quarter, compared to the consensus estimate of $5.08 billion. During the same quarter in the previous year, the company posted $6.08 earnings per share. The business’s revenue was up 1.8% on a year-over-year basis. As a group, sell-side analysts forecast that Parker-Hannifin Co. will post 26.68 EPS for the current year.

Parker-Hannifin Announces Dividend

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on PH. Mizuho lifted their price target on Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Wells Fargo & Company boosted their price target on shares of Parker-Hannifin from $640.00 to $710.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. TD Cowen raised their price objective on shares of Parker-Hannifin from $500.00 to $520.00 and gave the company a “hold” rating in a research report on Wednesday, September 11th. Truist Financial upped their target price on shares of Parker-Hannifin from $673.00 to $788.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Finally, Evercore ISI raised their price target on Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Parker-Hannifin currently has an average rating of “Moderate Buy” and a consensus price target of $660.57.

Insider Buying and Selling at Parker-Hannifin

In related news, VP Berend Bracht sold 850 shares of the firm’s 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 sale, the vice president now directly owns 3,350 shares of the company’s stock, valued at $1,986,282. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Joseph Scaminace sold 1,751 shares of the firm’s stock in a transaction dated 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 trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through 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 transaction of $503,982.00. Following the sale, the vice president now directly owns 3,350 shares in the company, valued at $1,986,282. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.39% 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.