Schrum Private Wealth Management LLC Buys Shares of 606 Parker-Hannifin Co. (NYSE:PH)

Schrum Private Wealth Management LLC purchased a new position in shares of Parker-Hannifin Co. (NYSE:PH) in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 606 shares of the industrial products company’s stock, valued at approximately $382,000.

Several other institutional investors also recently modified their holdings of the stock. Kovack Advisors Inc. increased its holdings in Parker-Hannifin by 30.5% in the 3rd quarter. Kovack Advisors Inc. now owns 590 shares of the industrial products company’s stock worth $373,000 after purchasing an additional 138 shares in the last quarter. Oppenheimer & Co. Inc. increased its stake in shares of Parker-Hannifin by 2.5% in the third quarter. Oppenheimer & Co. Inc. now owns 7,048 shares of the industrial products company’s stock valued at $4,453,000 after buying an additional 174 shares during the period. Oppenheimer Asset Management Inc. raised its holdings in Parker-Hannifin by 2.7% in the 3rd quarter. Oppenheimer Asset Management Inc. now owns 24,033 shares of the industrial products company’s stock valued at $15,185,000 after buying an additional 628 shares during the last quarter. Pinnacle Financial Partners Inc boosted its position in Parker-Hannifin by 2.3% during the 3rd quarter. Pinnacle Financial Partners Inc now owns 3,240 shares of the industrial products company’s stock worth $2,047,000 after buying an additional 74 shares during the period. Finally, Simmons Bank grew its holdings in Parker-Hannifin by 0.7% during the 3rd quarter. Simmons Bank now owns 2,753 shares of the industrial products company’s stock worth $1,739,000 after acquiring an additional 19 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Stock Up 1.3 %

Parker-Hannifin stock traded up $9.42 during midday trading on Wednesday, reaching $708.74. The stock had a trading volume of 100,067 shares, compared to its average volume of 644,156. The company has a fifty day moving average price of $628.60 and a two-hundred day moving average price of $572.14. Parker-Hannifin Co. has a 12 month low of $422.36 and a 12 month high of $711.60. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. The company has a market capitalization of $91.23 billion, a P/E ratio of 31.58, a PEG ratio of 2.86 and a beta of 1.43.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, beating the consensus estimate of $6.14 by $0.06. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The firm had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same quarter in the previous year, the company posted $5.96 earnings per share. The company’s quarterly revenue was up 1.2% on a year-over-year basis. As a group, equities analysts expect that Parker-Hannifin Co. will post 26.79 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 8th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.92%. The ex-dividend date is Friday, November 8th. Parker-Hannifin’s dividend payout ratio (DPR) is 29.45%.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. UBS Group started coverage on shares of Parker-Hannifin in a research note on Wednesday. They set a “buy” rating and a $842.00 price target for the company. Stifel Nicolaus raised their target price on Parker-Hannifin from $633.00 to $691.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. TD Cowen raised their price objective on Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a research report on Tuesday. Truist Financial upped their target price on Parker-Hannifin from $673.00 to $788.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Robert W. Baird increased their target price on shares of Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $688.07.

Insider Activity

In other Parker-Hannifin news, CEO Jennifer A. Parmentier sold 4,906 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $704.69, for a total transaction of $3,457,209.14. Following the completion of the sale, the chief executive officer now directly owns 33,607 shares of the company’s stock, valued at approximately $23,682,516.83. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, CEO Jennifer A. Parmentier sold 4,906 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $704.69, for a total value of $3,457,209.14. Following the completion of the sale, the chief executive officer now owns 33,607 shares in the company, valued at $23,682,516.83. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, VP Thomas C. Gentile sold 2,430 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the transaction, the vice president now directly owns 5,465 shares in the company, valued at $3,831,839.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 20,678 shares of company stock worth $13,840,428 over the last three months. 0.39% of the stock is currently owned by insiders.

Parker-Hannifin Company 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.