Prospera Financial Services Inc Increases Position in Parker-Hannifin Co. (NYSE:PH)

Prospera Financial Services Inc boosted its position in Parker-Hannifin Co. (NYSE:PH) by 37.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 1,347 shares of the industrial products company’s stock after buying an additional 364 shares during the period. Prospera Financial Services Inc’s holdings in Parker-Hannifin were worth $853,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Verity & Verity LLC bought a new stake in Parker-Hannifin in the third quarter valued at about $234,000. OneAscent Financial Services LLC bought a new stake in Parker-Hannifin in the third quarter valued at about $785,000. Caprock Group LLC increased its holdings in Parker-Hannifin by 9.9% in the third quarter. Caprock Group LLC now owns 3,283 shares of the industrial products company’s stock valued at $2,074,000 after buying an additional 297 shares during the last quarter. Pathstone Holdings LLC increased its holdings in Parker-Hannifin by 13.4% in the third quarter. Pathstone Holdings LLC now owns 18,551 shares of the industrial products company’s stock valued at $11,721,000 after buying an additional 2,186 shares during the last quarter. Finally, Aviance Capital Partners LLC increased its holdings in Parker-Hannifin by 9.7% in the third quarter. Aviance Capital Partners LLC now owns 543 shares of the industrial products company’s stock valued at $343,000 after buying an additional 48 shares during the last quarter. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Price Performance

Shares of NYSE:PH opened at $706.87 on Friday. Parker-Hannifin Co. has a 12 month low of $426.49 and a 12 month high of $711.60. The stock has a market cap of $90.99 billion, a price-to-earnings ratio of 31.93, a PEG ratio of 2.78 and a beta of 1.43. The stock’s 50 day moving average price is $647.32 and its 200 day moving average price is $580.33. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57.

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

Parker-Hannifin Dividend Announcement

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

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, COO Andrew D. Ross sold 4,864 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total transaction of $3,434,178.56. Following the sale, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at $9,263,244.80. The trade was a 27.05 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Thomas C. Gentile sold 2,430 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the sale, the vice president now directly owns 5,465 shares in the company, valued at approximately $3,831,839.40. This trade represents a 30.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 18,927 shares of company stock valued at $12,807,811. Corporate insiders own 0.39% of the company’s stock.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Barclays lifted their target price on Parker-Hannifin from $650.00 to $703.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Truist Financial lifted their target price on Parker-Hannifin from $673.00 to $788.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Robert W. Baird lifted their target price on Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. KeyCorp lifted their target price on Parker-Hannifin from $725.00 to $775.00 and gave the company an “overweight” rating in a research note on Thursday. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and an average price target of $691.40.

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.