Strategic Advisors LLC Has $4.09 Million Holdings in Parker-Hannifin Co. (NYSE:PH)

Strategic Advisors LLC lowered its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 3.3% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 6,468 shares of the industrial products company’s stock after selling 223 shares during the period. Strategic Advisors LLC’s holdings in Parker-Hannifin were worth $4,087,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in PH. Bangor Savings Bank increased its stake in Parker-Hannifin by 238.5% in the third 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 bought a new stake in shares of Parker-Hannifin in the 2nd quarter valued at approximately $25,000. Harbor Investment Advisory LLC raised its holdings in shares of Parker-Hannifin by 60.6% in the 1st quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock worth $29,000 after buying an additional 20 shares in the last quarter. Northwest Investment Counselors LLC bought a new position in shares of Parker-Hannifin during the 1st quarter worth approximately $31,000. Finally, Newbridge Financial Services Group Inc. bought a new stake in Parker-Hannifin in the fourth quarter valued at $30,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of the company’s stock in a transaction that occurred 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 represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available 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 sale, the vice president now owns 3,350 shares in the company, valued at approximately $1,986,282. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Joseph Scaminace sold 1,751 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now 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. 1.03% of the stock is owned by insiders.

Parker-Hannifin Trading Down 0.3 %

Shares of Parker-Hannifin stock traded down $1.74 on Thursday, hitting $631.05. 87,689 shares of the company’s stock traded hands, compared to its average volume of 640,036. Parker-Hannifin Co. has a one year low of $362.49 and a one year high of $639.87. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.93 and a quick ratio of 0.55. The stock has a market capitalization of $81.12 billion, a PE ratio of 29.82, a price-to-earnings-growth ratio of 2.55 and a beta of 1.43. The firm’s 50-day moving average price is $591.50 and its two-hundred day moving average price is $555.75.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, August 8th. The industrial products company reported $6.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.22 by $0.55. The firm had revenue of $5.19 billion for 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 company’s revenue was up 1.8% compared to the same quarter last year. During the same quarter last year, the business earned $6.08 earnings per share. On average, research analysts expect that Parker-Hannifin Co. will post 26.64 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Wednesday, August 28th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.03%. Parker-Hannifin’s payout ratio is presently 30.73%.

Wall Street Analysts Forecast Growth

PH has been the topic of several recent analyst reports. Robert W. Baird boosted their target price on shares of Parker-Hannifin from $622.00 to $654.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft upped their price objective on shares of Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Raymond James boosted their target price on Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. TD Cowen raised their price target on Parker-Hannifin from $500.00 to $520.00 and gave the company a “hold” rating in a report on Wednesday, September 11th. Finally, Wells Fargo & Company boosted their price objective on Parker-Hannifin from $640.00 to $710.00 and gave the stock an “overweight” rating in a research note on Monday. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $649.86.

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.