SeaCrest Wealth Management LLC Has $842,000 Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

SeaCrest Wealth Management LLC increased its holdings in Parker-Hannifin Co. (NYSE:PH) by 12.6% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,332 shares of the industrial products company’s stock after acquiring an additional 149 shares during the period. SeaCrest Wealth Management LLC’s holdings in Parker-Hannifin were worth $842,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of the business. Addison Advisors LLC purchased a new position in shares of Parker-Hannifin during the 2nd quarter valued at $25,000. Bangor Savings Bank boosted its position in Parker-Hannifin by 238.5% during the third 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 last quarter. Harbor Investment Advisory LLC grew its stake in Parker-Hannifin by 60.6% in the first quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 20 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new position in Parker-Hannifin in the 4th quarter worth about $30,000. Finally, Northwest Investment Counselors LLC purchased a new stake in shares of Parker-Hannifin during the 1st quarter worth about $31,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the sale, the director now owns 3,900 shares of the company’s stock, valued at $2,299,947. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, Director Joseph Scaminace sold 1,751 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were 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 approximately $2,299,947. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, VP Berend Bracht sold 850 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $592.92, for a total value of $503,982.00. Following the transaction, the vice president now directly owns 3,350 shares in the company, valued at $1,986,282. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.03% of the stock is currently owned by corporate insiders.

Parker-Hannifin Price Performance

NYSE:PH opened at $637.48 on Thursday. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.55 and a current ratio of 0.93. The company has a 50-day moving average of $603.46 and a 200-day moving average of $558.68. Parker-Hannifin Co. has a 52 week low of $362.49 and a 52 week high of $646.60. The company has a market capitalization of $81.94 billion, a price-to-earnings ratio of 30.04, a PEG ratio of 2.57 and a beta of 1.43.

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

Parker-Hannifin Dividend Announcement

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

Analysts Set New Price Targets

PH has been the subject of several recent research reports. Truist Financial boosted their price target on Parker-Hannifin from $673.00 to $788.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Wells Fargo & Company raised their price target on shares of Parker-Hannifin from $640.00 to $710.00 and gave the company an “overweight” rating in a report on Monday, October 7th. KeyCorp lifted their price objective on shares of Parker-Hannifin from $640.00 to $725.00 and gave the company an “overweight” rating in a research note on Monday. Stifel Nicolaus increased their target price on shares of Parker-Hannifin from $633.00 to $691.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Finally, Evercore ISI boosted their price target on Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. 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.com, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and an average target price of $655.93.

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.