Parker-Hannifin Co. (NYSE:PH) Shares Sold by BBR Partners LLC

BBR Partners LLC decreased its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 0.9% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 3,447 shares of the industrial products company’s stock after selling 32 shares during the period. BBR Partners LLC’s holdings in Parker-Hannifin were worth $2,178,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the stock. Addison Advisors LLC purchased a new stake in shares of Parker-Hannifin during the 2nd quarter worth $25,000. West Branch Capital LLC acquired a new position in shares of Parker-Hannifin during the 3rd quarter worth $25,000. Bangor Savings Bank boosted its position in shares of 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 buying an additional 31 shares in the last quarter. Fortitude Family Office LLC increased its holdings in Parker-Hannifin by 346.7% during the 2nd quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 52 shares in the last quarter. Finally, Opal Wealth Advisors LLC purchased a new stake in shares of Parker-Hannifin in the second quarter valued at about $39,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Activity at Parker-Hannifin

In related news, VP Joseph R. Leonti sold 5,877 shares of the firm’s stock in a transaction dated Friday, November 1st. The shares were sold at an average price of $631.04, for a total value of $3,708,622.08. Following the transaction, the vice president now owns 15,350 shares of the company’s stock, valued at approximately $9,686,464. This trade represents a 27.69 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Jennifer A. Parmentier sold 4,906 shares of the company’s stock in a transaction on 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 sale, the chief executive officer now owns 33,607 shares of the company’s stock, valued at $23,682,516.83. This trade represents a 12.74 % decrease in their position. 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 in the last quarter. Insiders own 0.39% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently issued reports on PH shares. Deutsche Bank Aktiengesellschaft lifted their price objective on Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Truist Financial raised their price target on shares of Parker-Hannifin from $673.00 to $788.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. TD Cowen upped their price objective on shares of Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a research note on Tuesday, November 12th. UBS Group began coverage on Parker-Hannifin in a research note on Wednesday, November 13th. They set a “buy” rating and a $842.00 price target on the stock. Finally, StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, October 12th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $691.40.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock opened at $699.71 on Thursday. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96. Parker-Hannifin Co. has a 52 week low of $426.49 and a 52 week high of $712.42. The stock has a market capitalization of $90.07 billion, a price-to-earnings ratio of 31.60, a PEG ratio of 2.84 and a beta of 1.43. The firm has a fifty day moving average of $653.32 and a two-hundred day moving average of $583.58.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share 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 company 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 earned $5.96 earnings per share. Parker-Hannifin’s revenue for the quarter was up 1.2% compared to the same quarter last year. As a group, equities research analysts predict that Parker-Hannifin Co. will post 26.77 EPS for the current year.

Parker-Hannifin Announces Dividend

The firm also recently disclosed 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 yield of 0.93%. The ex-dividend date is Friday, November 8th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 29.45%.

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.