Parker-Hannifin Co. (NYSE:PH) Shares Sold by Raub Brock Capital Management LP

Raub Brock Capital Management LP cut its position in Parker-Hannifin Co. (NYSE:PH) by 2.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,160 shares of the industrial products company’s stock after selling 903 shares during the quarter. Parker-Hannifin comprises about 4.4% of Raub Brock Capital Management LP’s portfolio, making the stock its 8th biggest holding. Raub Brock Capital Management LP’s holdings in Parker-Hannifin were worth $21,583,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in the company. TD Asset Management Inc raised its position in shares of Parker-Hannifin by 152.1% in the first quarter. TD Asset Management Inc now owns 132,231 shares of the industrial products company’s stock valued at $73,493,000 after buying an additional 79,774 shares in the last quarter. Daiwa Securities Group Inc. grew its holdings in shares of Parker-Hannifin by 8.5% during the 1st quarter. Daiwa Securities Group Inc. now owns 22,960 shares of the industrial products company’s stock worth $12,761,000 after purchasing an additional 1,802 shares in the last quarter. Concurrent Investment Advisors LLC grew its holdings in shares of Parker-Hannifin by 261.4% during the 1st quarter. Concurrent Investment Advisors LLC now owns 2,515 shares of the industrial products company’s stock worth $1,397,000 after purchasing an additional 1,819 shares in the last quarter. Oppenheimer Asset Management Inc. increased its position in shares of Parker-Hannifin by 54.1% in the first quarter. Oppenheimer Asset Management Inc. now owns 17,165 shares of the industrial products company’s stock worth $9,540,000 after purchasing an additional 6,029 shares during the period. Finally, Janney Montgomery Scott LLC raised its stake in Parker-Hannifin by 16.5% in the first quarter. Janney Montgomery Scott LLC now owns 42,523 shares of the industrial products company’s stock valued at $23,634,000 after purchasing an additional 6,013 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Parker-Hannifin stock opened at $640.44 on Friday. The business has a 50 day moving average of $606.31 and a 200-day moving average of $559.86. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.93 and a quick ratio of 0.55. Parker-Hannifin Co. has a 1 year low of $362.49 and a 1 year high of $646.60. The company has a market capitalization of $82.41 billion, a P/E ratio of 29.39, a P/E/G ratio of 2.61 and a beta of 1.43.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, August 8th. The industrial products company reported $6.77 EPS 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 firm had revenue of $5.19 billion for the quarter, compared to analyst estimates of $5.08 billion. During the same quarter in the previous year, the company posted $6.08 EPS. The business’s revenue was up 1.8% on a year-over-year basis. On average, equities research analysts predict that Parker-Hannifin Co. will post 26.64 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The business 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 1.02%. The ex-dividend date of this dividend was Wednesday, August 28th. Parker-Hannifin’s payout ratio is 29.92%.

Analysts Set New Price Targets

PH has been the topic of a number of analyst reports. Mizuho increased their price objective on shares of Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a research note on Thursday. StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. TD Cowen upped their target price on Parker-Hannifin from $500.00 to $520.00 and gave the stock a “hold” rating in a research note on Wednesday, September 11th. Truist Financial lifted their price target on Parker-Hannifin from $673.00 to $788.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Finally, Barclays boosted their price target on Parker-Hannifin from $650.00 to $703.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s 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, Director Joseph Scaminace sold 1,751 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was 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 $2,299,947. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other news, 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 completion of the transaction, the vice president now directly owns 3,350 shares in the company, valued at $1,986,282. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph Scaminace sold 1,751 shares of the company’s stock in a transaction dated 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 sale, the director now owns 3,900 shares in the company, valued at $2,299,947. 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.

About Parker-Hannifin

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.