Parker-Hannifin Co. (NYSE:PH) Shares Sold by Fragasso Financial Advisors Inc

Fragasso Financial Advisors Inc trimmed its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 7.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 11,899 shares of the industrial products company’s stock after selling 977 shares during the quarter. Parker-Hannifin comprises 0.6% of Fragasso Financial Advisors Inc’s portfolio, making the stock its 26th largest position. Fragasso Financial Advisors Inc’s holdings in Parker-Hannifin were worth $7,518,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also made changes to their positions in PH. Addison Advisors LLC bought a new position in Parker-Hannifin during the 2nd quarter valued at $25,000. Harbor Investment Advisory LLC boosted its stake 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 in the last quarter. Newbridge Financial Services Group Inc. bought a new position in Parker-Hannifin during the 4th quarter valued at $30,000. Northwest Investment Counselors LLC bought a new position in Parker-Hannifin during the 1st quarter valued at $31,000. Finally, Fortitude Family Office LLC boosted its stake in shares of Parker-Hannifin by 346.7% during the 2nd quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 52 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 news, VP Berend Bracht sold 850 shares of the company’s stock in a transaction on Monday, August 26th. The shares were 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 of the company’s stock, valued at approximately $1,986,282. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Berend Bracht sold 850 shares of the company’s stock in a transaction on 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 sale, the vice president now directly owns 3,350 shares in the company, valued at $1,986,282. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Joseph Scaminace sold 1,751 shares of the company’s stock in a transaction on 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 transaction, the director now owns 3,900 shares of the company’s stock, valued at $2,299,947. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.03% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on PH shares. Raymond James raised their target price on Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. Robert W. Baird raised their target price on Parker-Hannifin from $622.00 to $654.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Truist Financial reiterated a “buy” rating and set a $673.00 price objective (up from $621.00) on shares of Parker-Hannifin in a report on Friday, August 9th. Deutsche Bank Aktiengesellschaft increased their price objective on Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, Stifel Nicolaus increased their price objective on Parker-Hannifin from $633.00 to $691.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and an average price target of $641.64.

Parker-Hannifin Stock Down 0.2 %

NYSE:PH traded down $0.97 during trading hours on Monday, reaching $629.71. The company had a trading volume of 369,081 shares, compared to its average volume of 646,035. 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 has a market cap of $81.02 billion, a price-to-earnings ratio of 29.68, a P/E/G ratio of 2.55 and a beta of 1.43. The business’s 50-day simple moving average is $586.92 and its two-hundred day simple moving average is $554.21. Parker-Hannifin Co. has a twelve month low of $362.49 and a twelve month high of $639.87.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, August 8th. The industrial products company reported $6.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.22 by $0.55. Parker-Hannifin had a net margin of 14.27% and a return on equity of 29.08%. The firm had revenue of $5.19 billion during the quarter, compared to analysts’ expectations of $5.08 billion. During the same period last year, the company earned $6.08 earnings per share. The business’s revenue was up 1.8% on a year-over-year basis. On average, equities analysts expect that Parker-Hannifin Co. will post 26.64 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The business 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 was Wednesday, August 28th. This represents a $6.52 dividend on an annualized basis and a yield of 1.04%. Parker-Hannifin’s dividend payout ratio is presently 30.73%.

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.