WestHill Financial Advisors Inc. Invests $274,000 in Parker-Hannifin Co. (NYSE:PH)

WestHill Financial Advisors Inc. acquired a new position in shares of Parker-Hannifin Co. (NYSE:PH) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 433 shares of the industrial products company’s stock, valued at approximately $274,000.

Other institutional investors have also recently added to or reduced their stakes in the company. Banque Cantonale Vaudoise grew its stake in shares of Parker-Hannifin by 89.7% in the 1st quarter. Banque Cantonale Vaudoise now owns 772 shares of the industrial products company’s stock valued at $429,000 after buying an additional 365 shares during the period. International Assets Investment Management LLC grew its position in Parker-Hannifin by 11.5% in the first quarter. International Assets Investment Management LLC now owns 532 shares of the industrial products company’s stock worth $293,000 after acquiring an additional 55 shares during the period. Ballentine Partners LLC increased its stake in Parker-Hannifin by 14.5% during the first quarter. Ballentine Partners LLC now owns 1,363 shares of the industrial products company’s stock worth $758,000 after acquiring an additional 173 shares during the last quarter. Game Plan Financial Advisors LLC purchased a new stake in Parker-Hannifin in the first quarter valued at $42,000. Finally, Northwest Investment Counselors LLC purchased a new stake in Parker-Hannifin in the 1st quarter valued at about $31,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Insider Activity at Parker-Hannifin

In other news, VP Berend Bracht sold 850 shares of Parker-Hannifin stock in a transaction dated 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 in the company, valued at approximately $1,986,282. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, 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 transaction, the vice president now directly owns 3,350 shares in the company, valued at approximately $1,986,282. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Joseph Scaminace sold 1,751 shares of Parker-Hannifin stock in a transaction 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 completion of the transaction, the director now 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 disclosure for this sale can be found here. 1.03% of the stock is owned by corporate insiders.

Parker-Hannifin Stock Up 0.1 %

Shares of NYSE PH opened at $640.44 on Friday. The business has a 50-day moving average of $606.31 and a two-hundred day moving average of $559.95. The company has a market capitalization of $82.32 billion, a price-to-earnings ratio of 30.18, a price-to-earnings-growth ratio of 2.61 and a beta of 1.43. Parker-Hannifin Co. has a 1 year low of $362.49 and a 1 year high of $646.60. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.93 and a quick ratio of 0.55.

Parker-Hannifin (NYSE:PH) last announced 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 period in the prior year, the company posted $6.08 earnings per share. On average, analysts forecast that Parker-Hannifin Co. will post 26.64 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

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

Analyst Ratings Changes

Several analysts recently weighed in on the stock. Barclays lifted their target price on shares of Parker-Hannifin from $650.00 to $703.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Robert W. Baird increased their target price on Parker-Hannifin from $622.00 to $654.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Raymond James boosted their price target 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 raised their price objective on shares of Parker-Hannifin from $640.00 to $710.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Finally, StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and an average price target of $660.57.

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.