Parker-Hannifin Co. (NYSE:PH) Shares Purchased by Lockerman Financial Group Inc.

Lockerman Financial Group Inc. grew its holdings in Parker-Hannifin Co. (NYSE:PH) by 7.8% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 541 shares of the industrial products company’s stock after buying an additional 39 shares during the period. Lockerman Financial Group Inc.’s holdings in Parker-Hannifin were worth $342,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Swedbank AB lifted its holdings in shares of Parker-Hannifin by 377.8% during the third quarter. Swedbank AB now owns 158,085 shares of the industrial products company’s stock worth $99,881,000 after purchasing an additional 125,000 shares during the period. Creative Planning lifted its stake in shares of Parker-Hannifin by 9.9% in the 3rd quarter. Creative Planning now owns 28,003 shares of the industrial products company’s stock worth $17,693,000 after acquiring an additional 2,513 shares during the period. Wesbanco Bank Inc. boosted its holdings in shares of Parker-Hannifin by 0.7% in the third quarter. Wesbanco Bank Inc. now owns 33,037 shares of the industrial products company’s stock valued at $20,873,000 after acquiring an additional 214 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Parker-Hannifin in the third quarter valued at about $268,000. Finally, Grove Bank & Trust increased its stake in shares of Parker-Hannifin by 20.7% during the third quarter. Grove Bank & Trust now owns 134 shares of the industrial products company’s stock worth $85,000 after acquiring an additional 23 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Parker-Hannifin Trading Down 0.9 %

Parker-Hannifin stock traded down $5.51 during trading on Tuesday, hitting $638.02. The company’s stock had a trading volume of 616,899 shares, compared to its average volume of 639,749. The stock’s fifty day moving average is $598.57 and its 200 day moving average is $557.54. 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 Co. has a 1-year low of $362.49 and a 1-year high of $646.60. The stock has a market capitalization of $82.01 billion, a price-to-earnings ratio of 30.33, a P/E/G ratio of 2.57 and a beta of 1.43.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, August 8th. The industrial products company reported $6.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.22 by $0.55. The firm had revenue of $5.19 billion during the quarter, compared to the consensus estimate of $5.08 billion. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $6.08 earnings per share. As a group, equities research analysts predict that Parker-Hannifin Co. will post 26.64 EPS for the current year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Wednesday, August 28th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend was Wednesday, August 28th. Parker-Hannifin’s dividend payout ratio is presently 30.73%.

Insider Activity at Parker-Hannifin

In other news, VP Berend Bracht sold 850 shares of Parker-Hannifin 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. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Joseph Scaminace sold 1,751 shares of the business’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 completion of the transaction, the director now 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 this hyperlink. Also, VP Berend Bracht sold 850 shares of the firm’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 completion of 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 position. The disclosure for this sale can be found here. Company insiders own 1.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. Robert W. Baird lifted their price objective on Parker-Hannifin from $622.00 to $654.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Evercore ISI lifted their price target on Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday. Barclays boosted their target price on shares of Parker-Hannifin from $650.00 to $703.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Finally, Truist Financial increased their price target on shares of Parker-Hannifin from $673.00 to $788.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and a consensus target price of $655.93.

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.