Stanley Laman Group Ltd. Sells 365 Shares of Parker-Hannifin Co. (NYSE:PH)

Stanley Laman Group Ltd. lowered its stake in Parker-Hannifin Co. (NYSE:PH) by 3.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,304 shares of the industrial products company’s stock after selling 365 shares during the period. Parker-Hannifin makes up approximately 1.0% of Stanley Laman Group Ltd.’s holdings, making the stock its 14th largest holding. Stanley Laman Group Ltd.’s holdings in Parker-Hannifin were worth $7,142,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the stock. International Assets Investment Management LLC increased its holdings in Parker-Hannifin by 11.5% during the 1st quarter. International Assets Investment Management LLC now owns 532 shares of the industrial products company’s stock valued at $293,000 after purchasing an additional 55 shares during the period. Harbor Investment Advisory LLC increased its holdings in Parker-Hannifin by 60.6% during the 1st quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 20 shares during the period. West Paces Advisors Inc. increased its holdings in Parker-Hannifin by 87.5% during the 1st quarter. West Paces Advisors Inc. now owns 195 shares of the industrial products company’s stock valued at $108,000 after purchasing an additional 91 shares during the period. Mcdonald Partners LLC purchased a new position in Parker-Hannifin during the 1st quarter valued at about $208,000. Finally, GoalVest Advisory LLC boosted its position in shares of Parker-Hannifin by 40.0% in the 1st quarter. GoalVest Advisory LLC now owns 70 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 20 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of the stock in a transaction on Monday, August 26th. The stock was 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 owns 3,350 shares in the company, valued at approximately $1,986,282. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of the stock in a transaction dated 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 transaction, the director now owns 3,900 shares of the company’s stock, valued at $2,299,947. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Berend Bracht sold 850 shares of the 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 transaction, 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 position. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

PH has been the topic of a number of analyst reports. KeyCorp boosted their price target on Parker-Hannifin from $640.00 to $725.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Wells Fargo & Company boosted their price target on Parker-Hannifin from $640.00 to $710.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. TD Cowen boosted their price target on Parker-Hannifin from $500.00 to $520.00 and gave the stock a “hold” rating in a research report on Wednesday, September 11th. Stifel Nicolaus boosted their price target on Parker-Hannifin from $633.00 to $691.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Finally, Truist Financial boosted their price target on Parker-Hannifin from $673.00 to $788.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and a consensus target price of $660.57.

Parker-Hannifin Trading Down 1.6 %

NYSE:PH opened at $629.28 on Wednesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.93 and a quick ratio of 0.55. The firm has a market capitalization of $80.97 billion, a price-to-earnings ratio of 28.88, a price-to-earnings-growth ratio of 2.60 and a beta of 1.43. Parker-Hannifin Co. has a one year low of $362.49 and a one year high of $646.60. The business has a fifty day moving average price of $608.89 and a 200-day moving average price of $560.99.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data 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 firm had revenue of $5.19 billion during the quarter, compared to analyst estimates of $5.08 billion. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. Parker-Hannifin’s revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the business posted $6.08 EPS. Sell-side analysts forecast that Parker-Hannifin Co. will post 26.68 EPS for the current year.

Parker-Hannifin Announces Dividend

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

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.