Whittier Trust Co. Raises Stake in Parker-Hannifin Co. (NYSE:PH)

Whittier Trust Co. lifted its position in shares of Parker-Hannifin Co. (NYSE:PH) by 1.8% during the 3rd quarter, according to its most recent disclosure with the SEC. The firm owned 2,834 shares of the industrial products company’s stock after buying an additional 49 shares during the period. Whittier Trust Co.’s holdings in Parker-Hannifin were worth $1,791,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of PH. CVA Family Office LLC boosted its holdings in shares of Parker-Hannifin by 3.9% in the 3rd quarter. CVA Family Office LLC now owns 425 shares of the industrial products company’s stock valued at $269,000 after purchasing an additional 16 shares during the last quarter. Fidelis Capital Partners LLC boosted its holdings in Parker-Hannifin by 2.3% in the first quarter. Fidelis Capital Partners LLC now owns 851 shares of the industrial products company’s stock valued at $473,000 after acquiring an additional 19 shares during the last quarter. Sonoma Private Wealth LLC increased its stake in Parker-Hannifin by 2.9% during the third quarter. Sonoma Private Wealth LLC now owns 667 shares of the industrial products company’s stock worth $421,000 after acquiring an additional 19 shares during the last quarter. 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 purchasing an additional 20 shares during the period. Finally, GoalVest Advisory LLC grew its holdings in shares of Parker-Hannifin by 40.0% during the 1st quarter. GoalVest Advisory LLC now owns 70 shares of the industrial products company’s stock worth $39,000 after purchasing an additional 20 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock opened at $629.28 on Wednesday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.55 and a current ratio of 0.93. The firm has a market cap of $80.97 billion, a PE ratio of 28.88, a price-to-earnings-growth ratio of 2.60 and a beta of 1.43. Parker-Hannifin Co. has a 1 year low of $362.49 and a 1 year high of $646.60. The firm’s 50-day simple moving average is $608.89 and its 200-day simple moving average is $560.99.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, August 8th. The industrial products company reported $6.77 EPS for the quarter, topping the consensus estimate of $6.22 by $0.55. The company had revenue of $5.19 billion during the quarter, compared to analyst estimates 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 was up 1.8% on a year-over-year basis. During the same quarter last year, the firm earned $6.08 EPS. Equities analysts forecast that Parker-Hannifin Co. will post 26.68 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Wednesday, August 28th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date of this dividend was Wednesday, August 28th. Parker-Hannifin’s dividend payout ratio is presently 29.92%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on PH shares. Evercore ISI raised their price target 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. Barclays increased their price target on Parker-Hannifin from $650.00 to $703.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. TD Cowen boosted their price objective on Parker-Hannifin from $500.00 to $520.00 and gave the stock a “hold” rating in a research note on Wednesday, September 11th. Raymond James increased their target price on Parker-Hannifin from $610.00 to $650.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. Finally, Wells Fargo & Company upped their price target on Parker-Hannifin from $640.00 to $710.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and an average price target of $660.57.

Insiders Place Their Bets

In other 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 directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of the company’s stock in a transaction dated 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 transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Joseph Scaminace sold 1,751 shares of Parker-Hannifin 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 sale, the director now directly owns 3,900 shares in the company, valued at approximately $2,299,947. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by corporate insiders.

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.