CreativeOne Wealth LLC Acquires 187 Shares of Parker-Hannifin Co. (NYSE:PH)

CreativeOne Wealth LLC boosted its holdings in Parker-Hannifin Co. (NYSE:PH) by 24.0% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 965 shares of the industrial products company’s stock after purchasing an additional 187 shares during the quarter. CreativeOne Wealth LLC’s holdings in Parker-Hannifin were worth $610,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in PH. West Branch Capital LLC bought a new stake in shares of Parker-Hannifin in the 3rd quarter valued at $25,000. Bangor Savings Bank grew its holdings in Parker-Hannifin by 238.5% in the third quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 31 shares during the period. Addison Advisors LLC bought a new stake in Parker-Hannifin in the second quarter valued at $25,000. Northwest Investment Counselors LLC acquired a new position in shares of Parker-Hannifin during the third quarter valued at about $39,000. Finally, Fortitude Family Office LLC boosted its position in shares of Parker-Hannifin by 346.7% during the 2nd quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 52 shares in the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Price Performance

Shares of NYSE:PH opened at $702.90 on Friday. The firm has a market capitalization of $90.48 billion, a PE ratio of 31.75, a P/E/G ratio of 2.82 and a beta of 1.43. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. The company has a 50-day moving average price of $656.37 and a two-hundred day moving average price of $585.69. Parker-Hannifin Co. has a twelve month low of $426.78 and a twelve month high of $712.42.

Parker-Hannifin (NYSE:PH) last posted its earnings results 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. The business had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.90 billion. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the prior year, the company posted $5.96 EPS. Equities analysts forecast that Parker-Hannifin Co. will post 26.77 EPS for the current year.

Parker-Hannifin Dividend Announcement

The company also recently announced 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 annualized dividend and a yield of 0.93%. The ex-dividend date is Friday, November 8th. Parker-Hannifin’s dividend payout ratio is currently 29.45%.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Joseph R. Leonti sold 5,877 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $631.04, for a total transaction of $3,708,622.08. Following the completion of the sale, the vice president now owns 15,350 shares of the company’s stock, valued at $9,686,464. This represents a 27.69 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Jennifer A. Parmentier sold 4,906 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was 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 directly owns 33,607 shares in the company, valued at $23,682,516.83. The trade was a 12.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,077 shares of company stock valued at $12,303,829 over the last quarter. 0.39% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Truist Financial upped their price target on Parker-Hannifin from $673.00 to $788.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Mizuho upped their target price on Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Deutsche Bank Aktiengesellschaft increased their target price on Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a report on Friday, August 9th. UBS Group began coverage on shares of Parker-Hannifin in a research note on Wednesday, November 13th. They set a “buy” rating and a $842.00 price target for the company. Finally, StockNews.com upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $691.40.

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.