US Bancorp DE Purchases 924 Shares of Parker-Hannifin Co. (NYSE:PH)

US Bancorp DE increased its position in shares of Parker-Hannifin Co. (NYSE:PH) by 1.2% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 77,508 shares of the industrial products company’s stock after purchasing an additional 924 shares during the period. US Bancorp DE’s holdings in Parker-Hannifin were worth $48,972,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Addison Advisors LLC bought a new stake in Parker-Hannifin in the 2nd quarter valued at $25,000. West Branch Capital LLC bought a new stake in Parker-Hannifin in the third quarter valued at about $25,000. Bangor Savings Bank raised its position 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 in the last quarter. Fortitude Family Office LLC lifted its stake in Parker-Hannifin by 346.7% during the second 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 during the period. Finally, Crewe Advisors LLC acquired a new stake in Parker-Hannifin during the first quarter valued at approximately $38,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on PH shares. TD Cowen increased their target price on Parker-Hannifin from $500.00 to $520.00 and gave the stock a “hold” rating in a report on Wednesday, September 11th. Stifel Nicolaus lifted their price objective on Parker-Hannifin from $633.00 to $691.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Robert W. Baird upped their target price on shares of Parker-Hannifin from $622.00 to $654.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Wells Fargo & Company increased their target price on shares of Parker-Hannifin from $640.00 to $710.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Finally, Evercore ISI upped their price objective 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 analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $660.57.

Insider Activity

In related news, VP Berend Bracht sold 850 shares of Parker-Hannifin 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 owns 3,350 shares of the company’s stock, valued at $1,986,282. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Parker-Hannifin 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 transaction, the vice president now directly 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 legal filing with the SEC, which is accessible through this link. Also, Director Joseph Scaminace sold 1,751 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $589.73, for a total value of $1,032,617.23. Following the completion of the transaction, the director now directly owns 3,900 shares of the company’s stock, valued at approximately $2,299,947. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by company insiders.

Parker-Hannifin Trading Up 1.6 %

PH opened at $634.46 on Friday. Parker-Hannifin Co. has a fifty-two week low of $362.49 and a fifty-two week high of $646.60. The company has a market cap of $81.64 billion, a price-to-earnings ratio of 29.12, a price-to-earnings-growth ratio of 2.53 and a beta of 1.43. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.93 and a quick ratio of 0.55. The firm has a 50 day simple moving average of $614.64 and a 200 day simple moving average of $564.27.

Parker-Hannifin (NYSE:PH) last issued its earnings results 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 net margin of 14.27% and a return on equity of 29.08%. The company had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same quarter in the previous year, the company posted $5.96 EPS. The business’s revenue for the quarter was up 1.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Parker-Hannifin Co. will post 26.68 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The business 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. The ex-dividend date of this dividend is Friday, November 8th. This represents a $6.52 annualized dividend and a dividend yield of 1.03%. Parker-Hannifin’s payout ratio is currently 29.92%.

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.