Portside Wealth Group LLC Has $378,000 Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Portside Wealth Group LLC grew its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 4.0% in the 3rd quarter, Holdings Channel.com reports. The fund owned 599 shares of the industrial products company’s stock after purchasing an additional 23 shares during the period. Portside Wealth Group LLC’s holdings in Parker-Hannifin were worth $378,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the business. Addison Advisors LLC acquired a new position in shares of Parker-Hannifin in the second quarter worth approximately $25,000. West Branch Capital LLC bought a new stake in shares of Parker-Hannifin in the 3rd quarter valued at $25,000. Bangor Savings Bank increased its position in shares of Parker-Hannifin by 238.5% during the third quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock worth $28,000 after buying an additional 31 shares during the period. Fortitude Family Office LLC raised its stake in Parker-Hannifin by 346.7% during the second quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company’s stock worth $34,000 after buying an additional 52 shares during the last quarter. Finally, Crewe Advisors LLC acquired a new position in Parker-Hannifin in the first quarter valued at $38,000. Institutional investors own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Evercore ISI lifted their price objective on Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Barclays boosted their price target on Parker-Hannifin from $650.00 to $703.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. TD Cowen raised their price objective on shares of Parker-Hannifin from $500.00 to $520.00 and gave the stock a “hold” rating in a research report on Wednesday, September 11th. Truist Financial boosted their target price on shares of Parker-Hannifin from $673.00 to $788.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $673.14.

Insider Buying and Selling at Parker-Hannifin

In other news, VP Joseph R. Leonti sold 5,877 shares of Parker-Hannifin stock in a transaction on Friday, November 1st. The stock was sold at an average price of $631.04, for a total transaction of $3,708,622.08. Following the sale, the vice president now directly owns 15,350 shares in the company, valued at $9,686,464. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of the business’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 sale, the director now directly owns 3,900 shares in the company, valued at $2,299,947. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Joseph R. Leonti sold 5,877 shares of the stock in a transaction on Friday, November 1st. The stock was sold at an average price of $631.04, for a total value of $3,708,622.08. Following the transaction, the vice president now owns 15,350 shares of the company’s stock, valued at $9,686,464. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 20,678 shares of company stock worth $13,840,428. Insiders own 0.39% of the company’s stock.

Parker-Hannifin Stock Up 1.1 %

PH stock opened at $695.58 on Friday. The firm has a market capitalization of $89.54 billion, a PE ratio of 31.42, a P/E/G ratio of 2.86 and a beta of 1.43. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. Parker-Hannifin Co. has a twelve month low of $410.86 and a twelve month high of $709.63. The stock’s 50 day moving average is $623.97 and its 200-day moving average is $569.69.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.14 by $0.06. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The firm had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.90 billion. During the same period in the previous year, the firm earned $5.96 EPS. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. Sell-side analysts expect that Parker-Hannifin Co. will post 26.79 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 8th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend is Friday, November 8th. Parker-Hannifin’s payout ratio is 29.45%.

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.