Parker-Hannifin Co. (NYSE:PH) Shares Bought by Aptus Capital Advisors LLC

Aptus Capital Advisors LLC raised its stake in Parker-Hannifin Co. (NYSE:PH) by 5.0% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 649 shares of the industrial products company’s stock after acquiring an additional 31 shares during the period. Aptus Capital Advisors LLC’s holdings in Parker-Hannifin were worth $410,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of PH. West Branch Capital LLC bought a new stake in Parker-Hannifin during the third quarter worth approximately $25,000. Bangor Savings Bank grew its holdings in shares of Parker-Hannifin by 238.5% during the 3rd quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 31 shares in the last quarter. Addison Advisors LLC bought a new stake in Parker-Hannifin in the second quarter worth $25,000. Northwest Investment Counselors LLC bought a new stake in Parker-Hannifin in the third quarter worth $39,000. Finally, Fortitude Family Office LLC lifted its position 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 worth $34,000 after acquiring an additional 52 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on PH. StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, October 12th. Deutsche Bank Aktiengesellschaft upped their price objective 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. Truist Financial upped their target price on shares of Parker-Hannifin from $673.00 to $788.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Robert W. Baird upped their target price on shares of Parker-Hannifin from $695.00 to $710.00 and gave the company an “outperform” rating in a research note on Friday, November 1st. Finally, Wells Fargo & Company upped their price objective on shares of Parker-Hannifin from $640.00 to $710.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Two equities research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. According to MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and an average price target of $688.07.

Parker-Hannifin Price Performance

PH opened at $698.91 on Friday. Parker-Hannifin Co. has a one year low of $425.20 and a one year high of $711.60. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57. The company’s 50 day simple moving average is $633.64 and its 200-day simple moving average is $573.94. The stock has a market capitalization of $89.96 billion, a P/E ratio of 31.57, a price-to-earnings-growth ratio of 2.85 and a beta of 1.43.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, beating the consensus estimate of $6.14 by $0.06. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The business had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same period in the prior year, the business posted $5.96 earnings per share. Parker-Hannifin’s revenue was up 1.2% compared to the same quarter last year. Sell-side analysts anticipate that Parker-Hannifin Co. will post 26.77 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors 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 dividend on an annualized basis and a dividend yield of 0.93%. Parker-Hannifin’s payout ratio is 29.45%.

Insider Buying and Selling

In other news, VP Berend Bracht sold 850 shares of Parker-Hannifin 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 transaction, the vice president now owns 3,350 shares of the company’s stock, valued at $1,986,282. This trade represents a 20.24 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, COO Andrew D. Ross sold 4,864 shares of Parker-Hannifin stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total transaction of $3,434,178.56. Following the completion of the transaction, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at approximately $9,263,244.80. This trade represents a 27.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,927 shares of company stock worth $12,807,811 over the last ninety days. Company insiders own 0.39% of the company’s stock.

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.