381 Shares in Parker-Hannifin Co. (NYSE:PH) Bought by Canopy Partners LLC

by · The Markets Daily

Canopy Partners LLC purchased a new stake in shares of Parker-Hannifin Co. (NYSE:PH – Free Report) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 381 shares of the industrial products company’s stock, valued at approximately $241,000.

A number of other hedge funds also recently bought and sold shares of PH. CVA Family Office LLC grew its holdings in Parker-Hannifin by 3.9% in the 3rd quarter. CVA Family Office LLC now owns 425 shares of the industrial products company’s stock valued at $269,000 after buying an additional 16 shares during the last quarter. Sonoma Private Wealth LLC boosted its holdings in Parker-Hannifin by 2.9% in the 3rd quarter. Sonoma Private Wealth LLC now owns 667 shares of the industrial products company’s stock valued at $421,000 after purchasing an additional 19 shares during the period. W Advisors LLC grew its position in Parker-Hannifin by 3.4% in the 3rd quarter. W Advisors LLC now owns 581 shares of the industrial products company’s stock worth $367,000 after purchasing an additional 19 shares during the last quarter. Simmons Bank increased its holdings in shares of Parker-Hannifin by 0.7% during the 3rd quarter. Simmons Bank now owns 2,753 shares of the industrial products company’s stock worth $1,739,000 after purchasing an additional 19 shares during the period. Finally, CFS Investment Advisory Services LLC raised its position in shares of Parker-Hannifin by 3.4% during the third quarter. CFS Investment Advisory Services LLC now owns 583 shares of the industrial products company’s stock valued at $368,000 after buying an additional 19 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, VP Berend Bracht sold 850 shares of Parker-Hannifin 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 completion of the sale, the vice president now directly owns 3,350 shares of the company’s stock, valued at approximately $1,986,282. This trade represents a 20.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Joseph R. Leonti sold 5,877 shares of the company’s stock in a transaction on 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 directly owns 15,350 shares in the company, valued at $9,686,464. This trade represents a 27.69 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 18,927 shares of company stock valued at $12,807,811. Insiders own 0.39% of the company’s stock.

Analyst Ratings Changes

PH has been the topic of a number of recent research reports. Wells Fargo & Company lifted their target price on Parker-Hannifin from $640.00 to $710.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Evercore ISI raised their target price on Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Robert W. Baird boosted their price target on shares of Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a report on Friday, November 1st. StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Three 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.com, Parker-Hannifin presently has an average rating of “Moderate Buy” and a consensus target price of $691.40.

Get Our Latest Report on PH

Parker-Hannifin Stock Up 0.6 %

Shares of PH opened at $706.87 on Friday. The company has a market capitalization of $90.99 billion, a P/E ratio of 31.93, a PEG ratio of 2.84 and a beta of 1.43. Parker-Hannifin Co. has a one year low of $426.49 and a one year high of $711.60. The business’s 50 day simple moving average is $647.32 and its 200-day simple moving average is $580.33. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57.

Parker-Hannifin (NYSE:PH – Get Free Report) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, topping analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $4.90 billion. During the same quarter in the previous year, the firm earned $5.96 earnings per share. The business’s revenue was up 1.2% on a year-over-year basis. As a group, sell-side analysts predict that Parker-Hannifin Co. will post 26.77 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 8th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.92%. The ex-dividend date is Friday, November 8th. Parker-Hannifin’s payout ratio is presently 29.45%.

Parker-Hannifin Company Profile

(Free Report)

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.

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