KPP Advisory Services LLC Purchases 57 Shares of Parker-Hannifin Co. (NYSE:PH)

KPP Advisory Services LLC raised its position in Parker-Hannifin Co. (NYSE:PH) by 2.6% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,292 shares of the industrial products company’s stock after purchasing an additional 57 shares during the quarter. KPP Advisory Services LLC’s holdings in Parker-Hannifin were worth $1,448,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. West Branch Capital LLC bought a new position in shares of Parker-Hannifin during the third quarter worth about $25,000. Bangor Savings Bank grew its stake in Parker-Hannifin by 238.5% during the third quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 31 shares during the period. Addison Advisors LLC acquired a new stake in Parker-Hannifin during the second quarter worth approximately $25,000. Northwest Investment Counselors LLC acquired a new stake in Parker-Hannifin during the third quarter worth approximately $39,000. Finally, Fortitude Family Office LLC grew its stake in Parker-Hannifin by 346.7% during the second quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 52 shares during the period. 82.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

PH has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft raised their target price on Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Wells Fargo & Company raised their target price on Parker-Hannifin from $640.00 to $710.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Evercore ISI raised their price objective on Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. Mizuho raised their price objective on Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $688.07.

Parker-Hannifin Stock Up 0.2 %

Shares of PH stock traded up $1.28 during trading hours on Friday, reaching $698.91. The company had a trading volume of 530,753 shares, compared to its average volume of 645,390. Parker-Hannifin Co. has a 12 month low of $425.20 and a 12 month high of $711.60. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57. The business has a fifty day simple moving average of $636.19 and a 200-day simple moving average of $574.94. The company has a market cap of $89.96 billion, a price-to-earnings ratio of 31.57, a price-to-earnings-growth ratio of 2.85 and a beta of 1.43.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, beating analysts’ consensus estimates of $6.14 by $0.06. The company had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.90 billion. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The company’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter last year, the company earned $5.96 earnings per share. On average, research analysts expect that Parker-Hannifin Co. will post 26.77 earnings per share 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 issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a yield of 0.93%. Parker-Hannifin’s dividend payout ratio (DPR) is currently 29.45%.

Insider Buying and Selling

In other Parker-Hannifin news, CEO Jennifer A. Parmentier sold 4,906 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $704.69, for a total value of $3,457,209.14. Following the sale, the chief executive officer now directly owns 33,607 shares in the company, valued at $23,682,516.83. The trade was a 12.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, 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 value of $3,434,178.56. Following the completion of the sale, the chief operating officer now owns 13,120 shares in the company, valued at approximately $9,263,244.80. The trade was a 27.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,927 shares of company stock worth $12,807,811. 0.39% of the stock is owned by company insiders.

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.