Parker-Hannifin Co. (NYSE:PH) Shares Sold by Keynote Financial Services LLC

Keynote Financial Services LLC decreased its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 3.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 490 shares of the industrial products company’s stock after selling 20 shares during the period. Keynote Financial Services LLC’s holdings in Parker-Hannifin were worth $310,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently made changes to their positions in PH. TD Asset Management Inc increased its holdings in shares of Parker-Hannifin by 152.1% in the first quarter. TD Asset Management Inc now owns 132,231 shares of the industrial products company’s stock valued at $73,493,000 after buying an additional 79,774 shares in the last quarter. Concurrent Investment Advisors LLC raised its position in shares of Parker-Hannifin by 261.4% during the first quarter. Concurrent Investment Advisors LLC now owns 2,515 shares of the industrial products company’s stock worth $1,397,000 after purchasing an additional 1,819 shares during the period. Oppenheimer Asset Management Inc. lifted its holdings in shares of Parker-Hannifin by 54.1% during the first quarter. Oppenheimer Asset Management Inc. now owns 17,165 shares of the industrial products company’s stock valued at $9,540,000 after purchasing an additional 6,029 shares during the last quarter. UniSuper Management Pty Ltd boosted its position in shares of Parker-Hannifin by 198.7% in the 1st quarter. UniSuper Management Pty Ltd now owns 3,441 shares of the industrial products company’s stock valued at $1,912,000 after purchasing an additional 2,289 shares during the period. Finally, Wilkinson Global Asset Management LLC increased its stake in Parker-Hannifin by 59.1% in the 3rd quarter. Wilkinson Global Asset Management LLC now owns 39,093 shares of the industrial products company’s stock worth $24,700,000 after purchasing an additional 14,526 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

PH has been the subject of a number of analyst reports. Raymond James upped their price objective on shares of Parker-Hannifin from $610.00 to $650.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. Truist Financial upped their price target on shares of Parker-Hannifin from $673.00 to $788.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. StockNews.com upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, October 12th. Barclays increased their target price on Parker-Hannifin from $650.00 to $703.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Finally, Stifel Nicolaus lifted their price target on Parker-Hannifin from $633.00 to $691.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $673.14.

Parker-Hannifin Trading Down 2.7 %

Shares of NYSE PH opened at $690.03 on Friday. The business has a 50 day simple moving average of $620.09 and a 200 day simple moving average of $567.76. Parker-Hannifin Co. has a 52 week low of $407.78 and a 52 week high of $709.63. The stock has a market cap of $88.79 billion, a price-to-earnings ratio of 31.17, a PEG ratio of 2.57 and a beta of 1.43. 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 (NYSE:PH) last posted its earnings results on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, topping the consensus estimate of $6.14 by $0.06. The company had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.90 billion. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the previous year, the firm posted $5.96 earnings per share. On average, research analysts predict that Parker-Hannifin Co. will post 26.84 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 8th will be issued a dividend of $1.63 per share. The ex-dividend date is Friday, November 8th. This represents a $6.52 annualized dividend and a yield of 0.94%. Parker-Hannifin’s dividend payout ratio (DPR) is currently 29.45%.

Insiders Place Their Bets

In other news, VP Berend Bracht sold 850 shares of the 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 owns 3,350 shares of the company’s stock, valued at approximately $1,986,282. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Parker-Hannifin news, VP Joseph R. Leonti sold 5,877 shares of the business’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $631.04, for a total transaction of $3,708,622.08. Following the completion of the transaction, the vice president now owns 15,350 shares of the company’s stock, valued at $9,686,464. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Berend Bracht sold 850 shares of the firm’s stock in a transaction dated 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 sale, the vice president now directly owns 3,350 shares in the company, valued at approximately $1,986,282. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,478 shares of company stock valued at $5,245,221 over the last quarter. Insiders own 0.39% of the company’s stock.

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.