Patriot Financial Group Insurance Agency LLC Takes Position in Parker-Hannifin Co. (NYSE:PH)

Patriot Financial Group Insurance Agency LLC bought a new position in shares of Parker-Hannifin Co. (NYSE:PH) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 438 shares of the industrial products company’s stock, valued at approximately $277,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of PH. Miracle Mile Advisors LLC lifted its position in shares of Parker-Hannifin by 7.9% during the 1st quarter. Miracle Mile Advisors LLC now owns 709 shares of the industrial products company’s stock valued at $394,000 after acquiring an additional 52 shares during the last quarter. State of Alaska Department of Revenue lifted its holdings in shares of Parker-Hannifin by 0.4% during the first quarter. State of Alaska Department of Revenue now owns 13,925 shares of the industrial products company’s stock valued at $7,739,000 after purchasing an additional 50 shares during the last quarter. Norden Group LLC acquired a new position in shares of Parker-Hannifin in the 1st quarter valued at $3,849,000. Kovack Advisors Inc. purchased a new position in Parker-Hannifin in the 1st quarter worth about $258,000. Finally, First Trust Direct Indexing L.P. raised its holdings in Parker-Hannifin by 12.6% during the 1st quarter. First Trust Direct Indexing L.P. now owns 4,519 shares of the industrial products company’s stock worth $2,512,000 after buying an additional 504 shares during the period. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Stock Performance

Shares of PH opened at $625.11 on Wednesday. The company’s 50 day moving average price is $612.93 and its 200 day moving average price is $563.35. Parker-Hannifin Co. has a 52 week low of $362.49 and a 52 week high of $646.60. The company has a market capitalization of $80.43 billion, a PE ratio of 28.69, a PEG ratio of 2.52 and a beta of 1.43. 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 posted its earnings results on Thursday, August 8th. The industrial products company reported $6.77 EPS for the quarter, topping the consensus estimate of $6.22 by $0.55. The company had revenue of $5.19 billion during the quarter, compared to the consensus estimate of $5.08 billion. Parker-Hannifin had a net margin of 14.27% and a return on equity of 29.08%. The company’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $6.08 earnings per share. Research analysts expect that Parker-Hannifin Co. will post 26.68 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 8th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.04%. The ex-dividend date is Friday, November 8th. Parker-Hannifin’s dividend payout ratio is 29.92%.

Analyst Ratings Changes

PH has been the subject of several recent analyst reports. Evercore ISI raised their target price on shares of Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. KeyCorp raised their price objective on shares of Parker-Hannifin from $640.00 to $725.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Barclays boosted their target price on shares of Parker-Hannifin from $650.00 to $703.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company raised their target price on Parker-Hannifin from $640.00 to $710.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Finally, Mizuho upped 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. Two 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 company presently has a consensus rating of “Moderate Buy” and an average target price of $660.57.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of the business’s stock in a transaction that occurred on 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 sale, the vice president now directly owns 3,350 shares of the company’s stock, valued at $1,986,282. 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 hyperlink. In related news, Director Joseph Scaminace sold 1,751 shares of the company’s stock in a transaction on 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Berend Bracht sold 850 shares of the company’s stock in a transaction on Monday, August 26th. The stock was 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 of the company’s stock, valued at approximately $1,986,282. 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 Company 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.