Adero Partners LLC Takes Position in Parker-Hannifin Co. (NYSE:PH)

Adero Partners LLC purchased a new stake in Parker-Hannifin Co. (NYSE:PH) in the 3rd quarter, Holdings Channel reports. The firm purchased 355 shares of the industrial products company’s stock, valued at approximately $224,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Addison Advisors LLC acquired a new position in Parker-Hannifin in the 2nd quarter worth $25,000. West Branch Capital LLC acquired a new position in Parker-Hannifin in the 3rd quarter worth $25,000. Bangor Savings Bank boosted its stake in Parker-Hannifin by 238.5% in the 3rd 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. Fortitude Family Office LLC boosted its stake in Parker-Hannifin by 346.7% in 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 during the period. Finally, Crewe Advisors LLC acquired a new position in Parker-Hannifin in the 1st quarter worth $38,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, COO Andrew D. Ross sold 4,864 shares of the company’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 completion of the sale, the chief operating officer now directly owns 13,120 shares in the company, valued at $9,263,244.80. This represents a 27.05 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Berend Bracht sold 850 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $592.92, for a total value of $503,982.00. Following the sale, the vice president now owns 3,350 shares of the company’s stock, valued at $1,986,282. The trade was a 20.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 18,927 shares of company stock worth $12,807,811. Company insiders own 0.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. KeyCorp upped their target price on shares of Parker-Hannifin from $640.00 to $725.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Raymond James increased their price objective 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. Barclays increased their price objective on shares of Parker-Hannifin from $650.00 to $703.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Finally, Robert W. Baird increased their price objective on shares of Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to data from MarketBeat, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and a consensus price target of $688.07.

Parker-Hannifin Trading Up 0.2 %

Shares of PH stock opened at $698.91 on Monday. The company has a market capitalization of $89.96 billion, a PE ratio of 31.57, a price-to-earnings-growth 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. Parker-Hannifin Co. has a 12-month low of $425.20 and a 12-month high of $711.60. The firm has a 50 day moving average price of $636.19 and a two-hundred day moving average price of $575.38.

Parker-Hannifin (NYSE:PH) last released its quarterly 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 14.47% and a return on equity of 27.95%. The business had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.90 billion. During the same period in the prior year, the company posted $5.96 earnings per share. Parker-Hannifin’s revenue was up 1.2% compared to the same quarter last year. As a group, analysts predict that Parker-Hannifin Co. will post 26.77 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 8th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend 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%.

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.