698 Shares in Parker-Hannifin Co. (NYSE:PH) Acquired by Axxcess Wealth Management LLC

Axxcess Wealth Management LLC acquired a new stake in Parker-Hannifin Co. (NYSE:PH) during the third quarter, HoldingsChannel reports. The fund acquired 698 shares of the industrial products company’s stock, valued at approximately $441,000.

A number of other institutional investors have also recently bought and sold shares of PH. CVA Family Office LLC lifted 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 acquiring an additional 16 shares in the last quarter. Sonoma Private Wealth LLC lifted its stake in Parker-Hannifin by 2.9% in 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 in the last quarter. W Advisors LLC boosted its holdings in shares of Parker-Hannifin by 3.4% in the third quarter. W Advisors LLC now owns 581 shares of the industrial products company’s stock valued at $367,000 after buying an additional 19 shares during the period. American Trust increased its holdings in Parker-Hannifin by 3.2% during 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 in the last quarter. Finally, TFG Advisers LLC lifted its stake in Parker-Hannifin by 0.9% in the 2nd quarter. TFG Advisers LLC now owns 2,171 shares of the industrial products company’s stock valued at $1,098,000 after acquiring an additional 20 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. TD Cowen increased their price target on Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a research report on Tuesday. Raymond James boosted their target price on shares of Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Argus increased their price target on shares of Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft upped their target price on shares of Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a report on Friday, August 9th. Finally, KeyCorp lifted their price target on Parker-Hannifin from $640.00 to $725.00 and gave the stock an “overweight” rating in a report on Monday, October 14th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $688.07.

Insider Buying and Selling

In other Parker-Hannifin news, VP Joseph R. Leonti sold 5,877 shares of the firm’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $631.04, for a total value of $3,708,622.08. Following the completion of the transaction, the vice president now owns 15,350 shares in the company, valued at $9,686,464. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Joseph R. Leonti sold 5,877 shares of the business’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $631.04, for a total transaction of $3,708,622.08. Following the completion of the transaction, the vice president now owns 15,350 shares of the company’s stock, valued at approximately $9,686,464. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Berend Bracht sold 850 shares of the business’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 transaction of $503,982.00. Following the completion of the transaction, 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 position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,927 shares of company stock valued at $12,807,811. Company insiders own 0.39% of the company’s stock.

Parker-Hannifin Price Performance

Shares of NYSE:PH opened at $706.54 on Thursday. The stock’s fifty day simple moving average is $628.60 and its two-hundred day simple moving average is $572.14. The stock has a market cap of $90.95 billion, a PE ratio of 31.91, a price-to-earnings-growth ratio of 2.82 and a beta of 1.43. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. Parker-Hannifin Co. has a 1-year low of $422.36 and a 1-year high of $711.60.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, topping analysts’ consensus estimates of $6.14 by $0.06. The company had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.90 billion. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm earned $5.96 EPS. As a group, analysts forecast that Parker-Hannifin Co. will post 26.77 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 8th will be paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date of this dividend is Friday, November 8th. Parker-Hannifin’s payout ratio is currently 29.45%.

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.