Diversify Advisory Services LLC Buys 128 Shares of Parker-Hannifin Co. (NYSE:PH)

Diversify Advisory Services LLC boosted its stake in Parker-Hannifin Co. (NYSE:PH) by 29.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 558 shares of the industrial products company’s stock after acquiring an additional 128 shares during the period. Diversify Advisory Services LLC’s holdings in Parker-Hannifin were worth $351,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. International Assets Investment Management LLC raised its position in shares of Parker-Hannifin by 64,081.5% in the 3rd quarter. International Assets Investment Management LLC now owns 381,880 shares of the industrial products company’s stock worth $241,279,000 after acquiring an additional 381,285 shares in the last quarter. 1832 Asset Management L.P. increased its holdings in Parker-Hannifin by 305.0% in the first quarter. 1832 Asset Management L.P. now owns 307,794 shares of the industrial products company’s stock worth $171,069,000 after purchasing an additional 231,788 shares in the last quarter. AMF Tjanstepension AB lifted its stake in Parker-Hannifin by 23.0% in the second quarter. AMF Tjanstepension AB now owns 758,262 shares of the industrial products company’s stock valued at $383,594,000 after buying an additional 141,862 shares during the period. Mackenzie Financial Corp boosted its holdings in shares of Parker-Hannifin by 107.7% during the 2nd quarter. Mackenzie Financial Corp now owns 271,717 shares of the industrial products company’s stock worth $137,437,000 after buying an additional 140,898 shares in the last quarter. Finally, Swedbank AB grew its position in shares of Parker-Hannifin by 377.8% during the 3rd quarter. Swedbank AB now owns 158,085 shares of the industrial products company’s stock worth $99,881,000 after buying an additional 125,000 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

PH has been the topic of a number of research reports. Mizuho boosted their target price on shares of Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, October 12th. Robert W. Baird raised their target price on Parker-Hannifin from $622.00 to $654.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Wells Fargo & Company increased 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. Finally, 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. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat.com, Parker-Hannifin currently has an average rating of “Moderate Buy” and a consensus target price of $660.57.

Parker-Hannifin Price Performance

Shares of NYSE PH opened at $634.46 on Friday. 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 company has a market capitalization of $81.64 billion, a PE ratio of 29.12, a PEG ratio of 2.52 and a beta of 1.43. The stock’s 50 day moving average price is $614.64 and its 200-day moving average price is $564.27. Parker-Hannifin Co. has a twelve month low of $362.49 and a twelve month high of $646.60.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.14 by $0.06. The firm had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.90 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 1.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $5.96 EPS. On average, equities analysts anticipate that Parker-Hannifin Co. will post 26.68 EPS for the current year.

Parker-Hannifin Dividend Announcement

The business also recently announced 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. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date of this dividend is Friday, November 8th. Parker-Hannifin’s dividend payout ratio is currently 29.92%.

Insider Buying and Selling

In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $589.73, for a total value of $1,032,617.23. Following the completion of the sale, the director now directly 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 transaction was disclosed in a filing with the SEC, which is available through this link. In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of the 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 owns 3,900 shares in the company, valued at $2,299,947. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Berend Bracht sold 850 shares of the company’s stock in a transaction that occurred 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 sale, the vice president now owns 3,350 shares in the company, valued at $1,986,282. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by insiders.

Parker-Hannifin Company 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.