Aprio Wealth Management LLC Purchases 100 Shares of Parker-Hannifin Co. (NYSE:PH)

Aprio Wealth Management LLC grew its position in Parker-Hannifin Co. (NYSE:PH) by 20.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 597 shares of the industrial products company’s stock after acquiring an additional 100 shares during the quarter. Aprio Wealth Management LLC’s holdings in Parker-Hannifin were worth $377,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in PH. Bangor Savings Bank boosted its holdings in shares of Parker-Hannifin by 238.5% in the 3rd 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. Miracle Mile Advisors LLC boosted its holdings in shares of Parker-Hannifin by 16.0% in the 3rd quarter. Miracle Mile Advisors LLC now owns 4,381 shares of the industrial products company’s stock worth $2,768,000 after purchasing an additional 604 shares during the period. Chemistry Wealth Management LLC purchased a new position in shares of Parker-Hannifin in the 3rd quarter worth approximately $200,000. Smith Anglin Financial LLC purchased a new position in shares of Parker-Hannifin in the 3rd quarter worth approximately $236,000. Finally, Diversified Trust Co boosted its holdings in shares of Parker-Hannifin by 11.4% in the 3rd quarter. Diversified Trust Co now owns 978 shares of the industrial products company’s stock worth $618,000 after purchasing an additional 100 shares during the period. Institutional investors own 82.44% of the company’s stock.

Insider Transactions at Parker-Hannifin

In other 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 completion of the transaction, the vice president now directly 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 transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, VP Berend Bracht sold 850 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was 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 represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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 value of $1,032,617.23. Following the transaction, the director now directly owns 3,900 shares in the company, valued at $2,299,947. This 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.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on PH. Truist Financial reiterated a “buy” rating and issued a $673.00 target price (up previously from $621.00) on shares of Parker-Hannifin in a report on Friday, August 9th. Wells Fargo & Company boosted their price objective on Parker-Hannifin from $640.00 to $710.00 and gave the company an “overweight” rating in a report on Monday. Robert W. Baird boosted their price objective on Parker-Hannifin from $622.00 to $654.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Barclays boosted their price objective on Parker-Hannifin from $650.00 to $703.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Finally, Raymond James boosted their price objective on Parker-Hannifin from $610.00 to $650.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $641.64.

Parker-Hannifin Price Performance

Shares of PH stock opened at $627.34 on Wednesday. Parker-Hannifin Co. has a twelve month low of $362.49 and a twelve month high of $639.87. The stock has a market capitalization of $80.64 billion, a price-to-earnings ratio of 29.56, a P/E/G ratio of 2.55 and a beta of 1.43. The stock has a fifty day simple moving average of $588.55 and a two-hundred day simple moving average of $554.70. The company has a current ratio of 0.93, a quick ratio of 0.55 and a debt-to-equity ratio of 0.59.

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

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Wednesday, August 28th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.04%. The ex-dividend date was Wednesday, August 28th. Parker-Hannifin’s payout ratio is 30.73%.

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.