Stablepoint Partners LLC Increases Position in Parker-Hannifin Co. (NYSE:PH)

Stablepoint Partners LLC increased its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 3.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,307 shares of the industrial products company’s stock after purchasing an additional 102 shares during the quarter. Stablepoint Partners LLC’s holdings in Parker-Hannifin were worth $2,089,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. American Trust increased its position in Parker-Hannifin by 20.0% during the 4th quarter. American Trust now owns 629 shares of the industrial products company’s stock valued at $290,000 after buying an additional 105 shares in the last quarter. Centaurus Financial Inc. purchased a new stake in shares of Parker-Hannifin during the fourth quarter valued at $128,000. Syon Capital LLC raised its stake in Parker-Hannifin by 7.4% in the 4th quarter. Syon Capital LLC now owns 1,057 shares of the industrial products company’s stock worth $487,000 after acquiring an additional 73 shares during the last quarter. American International Group Inc. raised its stake in Parker-Hannifin by 2.8% in the 4th quarter. American International Group Inc. now owns 34,883 shares of the industrial products company’s stock worth $16,071,000 after acquiring an additional 939 shares during the last quarter. Finally, Congress Asset Management Co. MA acquired a new stake in Parker-Hannifin during the 4th quarter worth about $11,916,000. Institutional investors own 82.44% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently issued reports on PH. Truist Financial raised their price objective on Parker-Hannifin from $673.00 to $788.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Raymond James increased their price objective on shares of Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. 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 research report on Monday, October 7th. Stifel Nicolaus raised their target price on Parker-Hannifin from $633.00 to $691.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Finally, Robert W. Baird boosted their price target on Parker-Hannifin from $622.00 to $654.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat, Parker-Hannifin currently has an average rating of “Moderate Buy” and an average price target of $655.93.

Insider Buying and Selling at Parker-Hannifin

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 transaction of $1,032,617.23. Following the transaction, the director now owns 3,900 shares of the company’s stock, valued at approximately $2,299,947. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of the business’s stock in a transaction dated 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 transaction, 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 position. The transaction was disclosed in a document filed with the SEC, 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 transaction of $503,982.00. Following the sale, the vice president now owns 3,350 shares of the company’s stock, valued at $1,986,282. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.03% of the stock is owned by insiders.

Parker-Hannifin Price Performance

Shares of PH traded up $1.27 during mid-day trading on Monday, hitting $638.42. 15,372 shares of the company were exchanged, compared to its average volume of 637,278. The company has a 50 day moving average of $595.82 and a 200-day moving average of $556.92. Parker-Hannifin Co. has a 1-year low of $362.49 and a 1-year high of $640.61. The stock has a market cap of $82.06 billion, a price-to-earnings ratio of 30.03, a price-to-earnings-growth ratio of 2.57 and a beta of 1.43. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.55 and a current ratio of 0.93.

Parker-Hannifin (NYSE:PH) last issued its quarterly 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 firm had revenue of $5.19 billion during the quarter, compared to analysts’ expectations of $5.08 billion. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the previous year, the business earned $6.08 earnings per share. Analysts expect that Parker-Hannifin Co. will post 26.64 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently declared 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. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $6.52 dividend on an annualized basis and a yield of 1.02%. Parker-Hannifin’s payout ratio is presently 30.73%.

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.