484 Shares in Parker-Hannifin Co. (NYSE:PH) Purchased by Atlanta Consulting Group Advisors LLC

Atlanta Consulting Group Advisors LLC bought a new position in shares of Parker-Hannifin Co. (NYSE:PH) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 484 shares of the industrial products company’s stock, valued at approximately $306,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. Jupiter Asset Management Ltd. acquired a new position in Parker-Hannifin in the first quarter valued at approximately $301,000. Acadian Asset Management LLC raised its position in Parker-Hannifin by 458.1% in the first quarter. Acadian Asset Management LLC now owns 3,354 shares of the industrial products company’s stock valued at $1,862,000 after purchasing an additional 2,753 shares during the period. Edgestream Partners L.P. lifted its stake in shares of Parker-Hannifin by 40.9% in the 1st quarter. Edgestream Partners L.P. now owns 981 shares of the industrial products company’s stock valued at $545,000 after purchasing an additional 285 shares during the last quarter. O Shaughnessy Asset Management LLC grew its holdings in shares of Parker-Hannifin by 25.3% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 30,560 shares of the industrial products company’s stock worth $16,985,000 after purchasing an additional 6,180 shares during the period. Finally, Clearbridge Investments LLC raised its holdings in Parker-Hannifin by 32.4% in the 1st quarter. Clearbridge Investments LLC now owns 2,650 shares of the industrial products company’s stock valued at $1,473,000 after buying an additional 649 shares during the period. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Price Performance

Shares of PH opened at $698.91 on Monday. 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 firm’s fifty day simple moving average is $636.19 and its 200-day simple moving average is $575.38. The firm has a market capitalization of $89.96 billion, a price-to-earnings ratio of 31.57, a PEG ratio of 2.82 and a beta of 1.43. Parker-Hannifin Co. has a twelve month low of $425.20 and a twelve month high of $711.60.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, topping 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 business had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same period in the prior year, the firm posted $5.96 EPS. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. Equities analysts forecast that Parker-Hannifin Co. will post 26.77 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.93%. The ex-dividend date of this dividend is Friday, November 8th. Parker-Hannifin’s dividend payout ratio (DPR) is currently 29.45%.

Insider Activity

In related news, 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 completion of the sale, the vice president now owns 3,350 shares in the company, valued at $1,986,282. This represents a 20.24 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Andrew D. Ross sold 4,864 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $706.04, for a total transaction of $3,434,178.56. Following the transaction, the chief operating officer now directly owns 13,120 shares in the company, valued at $9,263,244.80. The trade was a 27.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 18,927 shares of company stock valued at $12,807,811. Insiders own 0.39% of the company’s stock.

Analyst Upgrades and Downgrades

PH has been the subject of several research analyst reports. 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 note on Wednesday, October 2nd. Argus lifted their price objective on Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. TD Cowen boosted their price objective on Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. UBS Group started coverage on Parker-Hannifin in a report on Wednesday, November 13th. They set a “buy” rating and a $842.00 target price for the company. Finally, Evercore ISI boosted their price target on shares of Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Parker-Hannifin presently has an average rating of “Moderate Buy” and an average target price of $688.07.

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.