Parker-Hannifin Co. (NYSE:PH) Shares Sold by My Legacy Advisors LLC

My Legacy Advisors LLC cut its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 16.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,195 shares of the industrial products company’s stock after selling 241 shares during the quarter. My Legacy Advisors LLC’s holdings in Parker-Hannifin were worth $755,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PH. Signaturefd LLC lifted its stake in Parker-Hannifin by 1.4% in the third quarter. Signaturefd LLC now owns 2,973 shares of the industrial products company’s stock valued at $1,879,000 after buying an additional 40 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of Parker-Hannifin by 3.2% in the third quarter. Sequoia Financial Advisors LLC now owns 48,642 shares of the industrial products company’s stock valued at $30,733,000 after purchasing an additional 1,508 shares during the period. Oakworth Capital Inc. increased its stake in Parker-Hannifin by 33.8% during the 3rd quarter. Oakworth Capital Inc. now owns 190 shares of the industrial products company’s stock valued at $120,000 after buying an additional 48 shares during the period. Foundations Investment Advisors LLC lifted its stake in shares of Parker-Hannifin by 3.3% in the 3rd quarter. Foundations Investment Advisors LLC now owns 1,482 shares of the industrial products company’s stock worth $936,000 after acquiring an additional 48 shares during the period. Finally, Townsend Asset Management Corp NC ADV boosted its holdings in shares of Parker-Hannifin by 62.7% in the third quarter. Townsend Asset Management Corp NC ADV now owns 5,325 shares of the industrial products company’s stock valued at $3,365,000 after acquiring an additional 2,052 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on PH shares. StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Wells Fargo & Company increased their target price on shares of Parker-Hannifin from $640.00 to $710.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. KeyCorp lifted their price target on shares of Parker-Hannifin from $640.00 to $725.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Robert W. Baird increased their price objective on Parker-Hannifin from $622.00 to $654.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Finally, Evercore ISI lifted their target price on Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Parker-Hannifin has a consensus rating of “Moderate Buy” and a consensus price target of $660.57.

Insider Buying and Selling

In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of the stock in a transaction on 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 sale, the director now directly owns 3,900 shares of the company’s stock, valued at $2,299,947. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other 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 value of $503,982.00. Following the completion of the transaction, the vice president now 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 on Thursday, August 15th. The stock was 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 in the company, valued at approximately $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 currently owned by insiders.

Parker-Hannifin Stock Down 1.3 %

Parker-Hannifin stock traded down $8.34 during mid-day trading on Tuesday, hitting $630.90. 236,211 shares of the company’s stock were exchanged, compared to its average volume of 635,179. Parker-Hannifin Co. has a 1-year low of $362.49 and a 1-year high of $646.60. The stock has a 50 day moving average of $607.74 and a two-hundred day moving average of $560.54. The stock has a market cap of $81.10 billion, a P/E ratio of 29.76, a P/E/G ratio of 2.61 and a beta of 1.43. The company has a current ratio of 0.93, a quick ratio of 0.55 and a debt-to-equity ratio of 0.59.

Parker-Hannifin (NYSE:PH) last released its quarterly 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. The company had revenue of $5.19 billion for the quarter, compared to analyst estimates of $5.08 billion. Parker-Hannifin had a net margin of 14.27% and a return on equity of 29.08%. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter last year, the firm posted $6.08 earnings per share. As a group, analysts anticipate that Parker-Hannifin Co. will post 26.64 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Wednesday, August 28th were paid a $1.63 dividend. The ex-dividend date was Wednesday, August 28th. This represents a $6.52 annualized dividend and a dividend yield of 1.03%. Parker-Hannifin’s payout ratio is 30.73%.

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.