Trinity Wealth Management LLC Takes Position in Parker-Hannifin Co. (NYSE:PH)

Trinity Wealth Management LLC acquired a new stake in Parker-Hannifin Co. (NYSE:PH) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 366 shares of the industrial products company’s stock, valued at approximately $231,000.

Several other hedge funds also recently bought and sold shares of PH. West Branch Capital LLC purchased a new position in Parker-Hannifin during the third quarter worth about $25,000. OLD National Bancorp IN purchased a new position in shares of Parker-Hannifin during the third quarter worth about $330,000. Cedrus LLC bought a new position in shares of Parker-Hannifin in the third quarter worth approximately $277,000. Veracity Capital LLC raised its stake in Parker-Hannifin by 14.5% in the third quarter. Veracity Capital LLC now owns 1,143 shares of the industrial products company’s stock valued at $722,000 after purchasing an additional 145 shares in the last quarter. Finally, WestHill Financial Advisors Inc. bought a new stake in Parker-Hannifin during the third quarter valued at approximately $274,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analyst Ratings Changes

PH has been the topic of a number of research reports. Evercore ISI boosted their price objective on shares of Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Stifel Nicolaus boosted their target price on Parker-Hannifin from $633.00 to $691.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company raised their price target on Parker-Hannifin from $640.00 to $710.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Finally, TD Cowen boosted their price objective on Parker-Hannifin from $500.00 to $520.00 and gave the company a “hold” rating in a research report on Wednesday, September 11th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and an average target price of $660.57.

Parker-Hannifin Stock Up 0.1 %

Shares of PH traded up $0.60 on Friday, reaching $640.44. The stock had a trading volume of 612,423 shares, compared to its average volume of 638,305. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.55 and a current ratio of 0.93. Parker-Hannifin Co. has a 12-month low of $362.49 and a 12-month high of $646.60. The firm has a market capitalization of $82.32 billion, a price-to-earnings ratio of 30.18, a price-to-earnings-growth ratio of 2.61 and a beta of 1.43. The company has a 50-day simple moving average of $606.31 and a 200-day simple moving average of $559.95.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, August 8th. The industrial products company reported $6.77 EPS for the quarter, beating analysts’ consensus estimates of $6.22 by $0.55. Parker-Hannifin had a net margin of 14.27% and a return on equity of 29.08%. The firm had revenue of $5.19 billion for the quarter, compared to analysts’ expectations of $5.08 billion. During the same quarter in the previous year, the business posted $6.08 EPS. The company’s quarterly revenue was up 1.8% on a year-over-year basis. Sell-side analysts predict that Parker-Hannifin Co. will post 26.64 EPS for the current year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Wednesday, August 28th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.02%. The ex-dividend date was Wednesday, August 28th. Parker-Hannifin’s dividend payout ratio (DPR) is 30.73%.

Insider Buying and Selling at Parker-Hannifin

In related news, Director Joseph Scaminace sold 1,751 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the completion of the sale, the director now owns 3,900 shares of the company’s stock, valued at $2,299,947. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Berend Bracht sold 850 shares of the business’s 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 completion of the transaction, the vice president now directly owns 3,350 shares of the company’s stock, valued at $1,986,282. The trade was a 0.00 % 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, Director Joseph Scaminace sold 1,751 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the completion of the sale, the director now owns 3,900 shares in the company, valued at $2,299,947. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.03% of the stock is owned by company insiders.

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.