Verity & Verity LLC Makes New $234,000 Investment in Parker-Hannifin Co. (NYSE:PH)

Verity & Verity LLC acquired a new position in shares of Parker-Hannifin Co. (NYSE:PH) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 370 shares of the industrial products company’s stock, valued at approximately $234,000.

Several other institutional investors and hedge funds also recently bought and sold shares of the company. CVA Family Office LLC lifted its position in shares of Parker-Hannifin by 3.9% during the third quarter. CVA Family Office LLC now owns 425 shares of the industrial products company’s stock worth $269,000 after purchasing an additional 16 shares during the last quarter. Sonoma Private Wealth LLC raised its holdings in shares of Parker-Hannifin by 2.9% in the third quarter. Sonoma Private Wealth LLC now owns 667 shares of the industrial products company’s stock valued at $421,000 after acquiring an additional 19 shares in the last quarter. W Advisors LLC raised its holdings in shares of Parker-Hannifin by 3.4% in the third quarter. W Advisors LLC now owns 581 shares of the industrial products company’s stock valued at $367,000 after acquiring an additional 19 shares in the last quarter. Simmons Bank raised its holdings in shares of Parker-Hannifin by 0.7% in the third quarter. Simmons Bank now owns 2,753 shares of the industrial products company’s stock valued at $1,739,000 after acquiring an additional 19 shares in the last quarter. Finally, American Trust raised its holdings in shares of Parker-Hannifin by 3.2% in the first quarter. American Trust now owns 649 shares of the industrial products company’s stock valued at $361,000 after acquiring an additional 20 shares in the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Stock Performance

Shares of PH opened at $691.68 on Tuesday. The stock has a 50-day simple moving average of $638.42 and a 200-day simple moving average of $576.52. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96. The stock has a market capitalization of $89.03 billion, a PE ratio of 31.24, a PEG ratio of 2.82 and a beta of 1.43. Parker-Hannifin Co. has a 1 year low of $426.49 and a 1 year high of $711.60.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, topping the consensus estimate of $6.14 by $0.06. The firm had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.90 billion. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The firm’s revenue was up 1.2% compared to the same quarter last year. During the same quarter in the previous year, the business earned $5.96 earnings per share. On average, analysts predict that Parker-Hannifin Co. will post 26.77 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 8th will be paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend is Friday, November 8th. Parker-Hannifin’s dividend payout ratio is currently 29.45%.

Analysts Set New Price Targets

A number of equities analysts have commented on PH shares. Barclays boosted their target price on shares of Parker-Hannifin from $650.00 to $703.00 and gave the stock an “overweight” rating in a report on Wednesday, October 2nd. Wells Fargo & Company increased their target price on Parker-Hannifin from $640.00 to $710.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. KeyCorp raised their price objective on Parker-Hannifin from $640.00 to $725.00 and gave the company an “overweight” rating in a report on Monday, October 14th. TD Cowen raised their price objective on Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Finally, UBS Group began coverage on Parker-Hannifin in a research note on Wednesday, November 13th. They issued a “buy” rating and a $842.00 target price for the company. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $688.07.

Insider Buying and Selling at Parker-Hannifin

In other news, VP Berend Bracht sold 850 shares of the business’s stock in a transaction that occurred 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 transaction, the vice president now owns 3,350 shares of the company’s stock, valued at approximately $1,986,282. The trade was a 20.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, VP Thomas C. Gentile sold 2,430 shares of the company’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total value of $1,703,818.80. Following the transaction, the vice president now directly owns 5,465 shares in the company, valued at $3,831,839.40. This represents a 30.78 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,927 shares of company stock worth $12,807,811. 0.39% of the stock is owned by insiders.

Parker-Hannifin 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.