Verus Capital Partners LLC Has $928,000 Holdings in Parker-Hannifin Co. (NYSE:PH)

Verus Capital Partners LLC raised its position in Parker-Hannifin Co. (NYSE:PH) by 11.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,468 shares of the industrial products company’s stock after buying an additional 149 shares during the quarter. Verus Capital Partners LLC’s holdings in Parker-Hannifin were worth $928,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Harbour Investments Inc. increased its stake in shares of Parker-Hannifin by 100.4% in the 3rd quarter. Harbour Investments Inc. now owns 1,511 shares of the industrial products company’s stock valued at $955,000 after purchasing an additional 757 shares during the last quarter. Entropy Technologies LP grew its position in Parker-Hannifin by 40.3% in the third quarter. Entropy Technologies LP now owns 7,416 shares of the industrial products company’s stock valued at $4,686,000 after acquiring an additional 2,131 shares during the last quarter. Buckingham Capital Management Inc. raised its stake in Parker-Hannifin by 0.8% during the third quarter. Buckingham Capital Management Inc. now owns 3,471 shares of the industrial products company’s stock worth $2,193,000 after acquiring an additional 28 shares in the last quarter. Venturi Wealth Management LLC lifted its holdings in shares of Parker-Hannifin by 59.8% in the third quarter. Venturi Wealth Management LLC now owns 278 shares of the industrial products company’s stock worth $176,000 after acquiring an additional 104 shares during the last quarter. Finally, Catalytic Wealth RIA LLC boosted its stake in shares of Parker-Hannifin by 2.1% in the 3rd quarter. Catalytic Wealth RIA LLC now owns 1,034 shares of the industrial products company’s stock valued at $653,000 after purchasing an additional 21 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Parker-Hannifin 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 transaction, the director now owns 3,900 shares in the company, valued at approximately $2,299,947. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of the business’s 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 transaction, the vice president now owns 3,350 shares of the company’s stock, valued at approximately $1,986,282. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph Scaminace sold 1,751 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $589.73, for a total value of $1,032,617.23. Following 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 ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 20,678 shares of company stock worth $13,840,428. Corporate insiders own 0.39% of the company’s stock.

Parker-Hannifin Price Performance

Shares of NYSE PH opened at $699.17 on Wednesday. The company has a market capitalization of $90.00 billion, a PE ratio of 31.58, a P/E/G ratio of 2.86 and a beta of 1.43. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. Parker-Hannifin Co. has a twelve month low of $415.97 and a twelve month high of $711.60. The firm has a fifty day simple moving average of $626.13 and a 200 day simple moving average of $571.11.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.14 by $0.06. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The company had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.90 billion. During the same period in the previous year, the business earned $5.96 EPS. The firm’s revenue was up 1.2% compared to the same quarter last year. On average, sell-side analysts forecast that Parker-Hannifin Co. will post 26.79 EPS for the current year.

Parker-Hannifin Announces Dividend

The company 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 yield of 0.93%. The ex-dividend date is Friday, November 8th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 29.45%.

Analyst Upgrades and Downgrades

Several equities analysts recently commented on PH shares. Argus increased their price objective 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. Robert W. Baird increased their price target on Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Raymond James boosted their price objective on Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. Truist Financial increased their target price on Parker-Hannifin from $673.00 to $788.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, TD Cowen boosted their price target on Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a report on Tuesday. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and a consensus target price of $677.07.

Parker-Hannifin 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.