Venturi Wealth Management LLC Has $176,000 Stake in Parker-Hannifin Co. (NYSE:PH)

Venturi Wealth Management LLC boosted its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 59.8% in the 3rd quarter, HoldingsChannel.com reports. The fund owned 278 shares of the industrial products company’s stock after purchasing an additional 104 shares during the quarter. Venturi Wealth Management LLC’s holdings in Parker-Hannifin were worth $176,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. CVA Family Office LLC grew 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 worth $269,000 after purchasing an additional 16 shares during the last quarter. Sonoma Private Wealth LLC boosted its position in Parker-Hannifin by 2.9% in the third quarter. Sonoma Private Wealth LLC now owns 667 shares of the industrial products company’s stock valued at $421,000 after buying an additional 19 shares in the last quarter. W Advisors LLC grew its stake in Parker-Hannifin by 3.4% during the third quarter. W Advisors LLC now owns 581 shares of the industrial products company’s stock worth $367,000 after buying an additional 19 shares during the last quarter. American Trust increased its holdings in shares of Parker-Hannifin by 3.2% during the first quarter. American Trust now owns 649 shares of the industrial products company’s stock worth $361,000 after buying an additional 20 shares in the last quarter. Finally, TFG Advisers LLC raised its stake in shares of Parker-Hannifin by 0.9% in the second quarter. TFG Advisers LLC now owns 2,171 shares of the industrial products company’s stock valued at $1,098,000 after acquiring an additional 20 shares during the last quarter. 82.44% of the stock is owned by institutional investors.

Analysts Set New Price Targets

PH has been the subject of a number of recent analyst reports. Mizuho raised their price target on Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Truist Financial raised their target price on Parker-Hannifin from $673.00 to $788.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. StockNews.com upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, October 12th. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, TD Cowen upped their target price on shares of Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a research report on Tuesday. Two research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. According to MarketBeat.com, Parker-Hannifin presently has an average rating of “Moderate Buy” and a consensus price target of $688.07.

Parker-Hannifin Stock Performance

PH stock opened at $706.54 on Thursday. Parker-Hannifin Co. has a twelve month low of $422.36 and a twelve month high of $711.60. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. The company has a market cap of $90.95 billion, a P/E ratio of 31.91, a price-to-earnings-growth ratio of 2.82 and a beta of 1.43. The business’s fifty day moving average is $628.60 and its 200-day moving average is $572.14.

Parker-Hannifin (NYSE:PH) last issued its earnings results 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. The firm had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.90 billion. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The company’s revenue was up 1.2% compared to the same quarter last year. During the same quarter last year, the business earned $5.96 earnings per share. Equities research analysts forecast that Parker-Hannifin Co. will post 26.77 EPS for the current year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 8th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend is Friday, November 8th. Parker-Hannifin’s payout ratio is presently 29.45%.

Insiders Place Their Bets

In other news, COO Andrew D. Ross sold 4,864 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total value of $3,434,178.56. Following the completion of the transaction, the chief operating officer now owns 13,120 shares of the company’s stock, valued at $9,263,244.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Parker-Hannifin news, CEO Jennifer A. Parmentier sold 4,906 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $704.69, for a total value of $3,457,209.14. Following the transaction, the chief executive officer now owns 33,607 shares of the company’s stock, valued at approximately $23,682,516.83. 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, COO Andrew D. Ross sold 4,864 shares of the stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $706.04, for a total transaction of $3,434,178.56. Following the sale, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at $9,263,244.80. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,927 shares of company stock worth $12,807,811. Company insiders own 0.39% of the company’s stock.

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.