Parker-Hannifin Co. (NYSE:PH) Shares Bought by SteelPeak Wealth LLC

SteelPeak Wealth LLC increased its stake in Parker-Hannifin Co. (NYSE:PH) by 78.4% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,673 shares of the industrial products company’s stock after purchasing an additional 735 shares during the period. SteelPeak Wealth LLC’s holdings in Parker-Hannifin were worth $1,057,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. West Branch Capital LLC acquired a new stake in Parker-Hannifin during the 3rd quarter valued at approximately $25,000. Bangor Savings Bank lifted its stake in Parker-Hannifin by 238.5% during the 3rd quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 31 shares during the period. Addison Advisors LLC acquired a new stake in Parker-Hannifin during the 2nd quarter valued at approximately $25,000. Northwest Investment Counselors LLC acquired a new stake in Parker-Hannifin during the 3rd quarter valued at approximately $39,000. Finally, Fortitude Family Office LLC lifted its stake in Parker-Hannifin by 346.7% during the 2nd quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 52 shares during the period. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, Director Joseph Scaminace sold 1,751 shares of the business’s 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 transaction, the director now owns 3,900 shares of the company’s stock, valued at approximately $2,299,947. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, VP Berend Bracht sold 850 shares of the business’s 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 owns 3,350 shares of the company’s stock, valued at approximately $1,986,282. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Joseph Scaminace sold 1,751 shares of the company’s 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 directly owns 3,900 shares in the company, valued at $2,299,947. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.39% of the company’s stock.

Parker-Hannifin Trading Down 0.1 %

Shares of PH opened at $624.51 on Thursday. Parker-Hannifin Co. has a 52-week low of $362.49 and a 52-week high of $646.60. The company has a quick ratio of 0.55, a current ratio of 0.93 and a debt-to-equity ratio of 0.59. The firm’s fifty day moving average is $613.70 and its two-hundred day moving average is $563.78. The stock has a market cap of $80.36 billion, a PE ratio of 28.66, a price-to-earnings-growth ratio of 2.52 and a beta of 1.43.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, August 8th. The industrial products company reported $6.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.22 by $0.55. Parker-Hannifin had a net margin of 14.27% and a return on equity of 29.08%. The company had revenue of $5.19 billion for the quarter, compared to analysts’ expectations of $5.08 billion. During the same quarter in the previous year, the company posted $6.08 EPS. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. Research analysts forecast that Parker-Hannifin Co. will post 26.68 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be given a dividend of $1.63 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $6.52 annualized dividend and a dividend yield of 1.04%. Parker-Hannifin’s payout ratio is 29.92%.

Analyst Upgrades and Downgrades

PH has been the subject of several recent research reports. Evercore ISI lifted their target price on shares of Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Raymond James lifted their target price on shares of Parker-Hannifin from $610.00 to $650.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. Mizuho lifted their target price on shares of Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Finally, TD Cowen lifted their target price on shares of Parker-Hannifin from $500.00 to $520.00 and gave the company a “hold” rating in a report on Wednesday, September 11th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $660.57.

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.