Dakota Wealth Management Buys 70 Shares of Parker-Hannifin Co. (NYSE:PH)

Dakota Wealth Management increased its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 6.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,088 shares of the industrial products company’s stock after buying an additional 70 shares during the quarter. Dakota Wealth Management’s holdings in Parker-Hannifin were worth $687,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Addison Advisors LLC bought a new position in Parker-Hannifin in the 2nd quarter valued at $25,000. West Branch Capital LLC bought a new position in Parker-Hannifin in the 3rd quarter valued at $25,000. Bangor Savings Bank grew its stake in Parker-Hannifin by 238.5% in the 3rd quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock valued at $28,000 after purchasing an additional 31 shares during the period. Fortitude Family Office LLC grew its stake in shares of Parker-Hannifin by 346.7% during the 2nd quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 52 shares during the period. Finally, Crewe Advisors LLC bought a new position in shares of Parker-Hannifin during the 1st quarter worth $38,000. Institutional investors own 82.44% of the company’s stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on PH shares. Deutsche Bank Aktiengesellschaft increased their price target on Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. KeyCorp increased their price target on Parker-Hannifin from $640.00 to $725.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Truist Financial increased their price target on Parker-Hannifin from $673.00 to $788.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Finally, Robert W. Baird increased their price objective on Parker-Hannifin from $622.00 to $654.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and an average price target of $660.57.

Insider Activity at Parker-Hannifin

In related news, Director Joseph Scaminace sold 1,751 shares of the firm’s stock in a transaction dated 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 transaction, the director now directly owns 3,900 shares of the company’s stock, valued at approximately $2,299,947. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. In related news, Director Joseph Scaminace sold 1,751 shares of the firm’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 transaction, the director now directly owns 3,900 shares in the company, valued at $2,299,947. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Berend Bracht sold 850 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $592.92, for a total value of $503,982.00. Following the transaction, the vice president now owns 3,350 shares in the company, valued at approximately $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 Stock Performance

NYSE:PH opened at $621.74 on Monday. The business’s 50-day moving average price is $611.33 and its two-hundred day moving average price is $562.35. Parker-Hannifin Co. has a twelve month low of $362.49 and a twelve month high of $646.60. The stock has a market cap of $80.00 billion, a P/E ratio of 28.53, a PEG ratio of 2.55 and a beta of 1.43. The company has a quick ratio of 0.55, a current ratio of 0.93 and a debt-to-equity ratio of 0.59.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, August 8th. The industrial products company reported $6.77 earnings per share for the quarter, beating the consensus estimate of $6.22 by $0.55. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. The firm had revenue of $5.19 billion for the quarter, compared to analysts’ expectations of $5.08 billion. During the same quarter last year, the firm posted $6.08 EPS. The company’s revenue was up 1.8% compared to the same quarter last year. As a group, equities analysts predict that Parker-Hannifin Co. will post 26.68 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. Investors of record on Friday, November 8th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.05%. Parker-Hannifin’s dividend payout ratio is 29.92%.

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.