MCF Advisors LLC Has $717,000 Stock Position in Parker-Hannifin Co. (NYSE:PH)

MCF Advisors LLC boosted its stake in Parker-Hannifin Co. (NYSE:PH) by 4.5% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,135 shares of the industrial products company’s stock after purchasing an additional 49 shares during the quarter. MCF Advisors LLC’s holdings in Parker-Hannifin were worth $717,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of PH. Wealth Enhancement Advisory Services LLC lifted its stake in Parker-Hannifin by 1.7% during the third quarter. Wealth Enhancement Advisory Services LLC now owns 27,753 shares of the industrial products company’s stock worth $17,535,000 after purchasing an additional 464 shares during the last quarter. NorthCrest Asset Manangement LLC raised its holdings in shares of Parker-Hannifin by 0.9% during the 3rd quarter. NorthCrest Asset Manangement LLC now owns 60,943 shares of the industrial products company’s stock worth $38,505,000 after buying an additional 560 shares in the last quarter. Forsta AP Fonden lifted its position in shares of Parker-Hannifin by 18.2% during the 3rd quarter. Forsta AP Fonden now owns 34,400 shares of the industrial products company’s stock worth $21,735,000 after buying an additional 5,300 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in Parker-Hannifin by 3.1% in the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,099 shares of the industrial products company’s stock valued at $8,288,000 after buying an additional 395 shares in the last quarter. Finally, Trueblood Wealth Management LLC grew its position in Parker-Hannifin by 26.2% in the third quarter. Trueblood Wealth Management LLC now owns 640 shares of the industrial products company’s stock valued at $404,000 after acquiring an additional 133 shares during the last quarter. Institutional investors own 82.44% of the company’s stock.

Insider Activity

In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of the stock in a transaction dated 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 owns 3,900 shares in the company, valued at approximately $2,299,947. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of the business’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 transaction, the vice president now directly owns 3,350 shares in the company, valued at $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 Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph Scaminace sold 1,751 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the transaction, 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 ownership of the stock. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by corporate insiders.

Parker-Hannifin Stock Down 0.4 %

Shares of PH traded down $2.40 during trading hours on Friday, reaching $621.74. The stock had a trading volume of 385,779 shares, compared to its average volume of 634,647. The company has a current ratio of 0.93, a quick ratio of 0.55 and a debt-to-equity ratio of 0.59. The firm has a 50-day simple moving average of $611.33 and a 200 day simple moving average of $562.29. The company has a market capitalization of $80.00 billion, a price-to-earnings ratio of 28.53, a P/E/G ratio of 2.55 and a beta of 1.43. Parker-Hannifin Co. has a 12 month low of $362.49 and a 12 month high of $646.60.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, August 8th. The industrial products company reported $6.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.22 by $0.55. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. The business had revenue of $5.19 billion during the quarter, compared to the consensus estimate of $5.08 billion. During the same quarter in the previous year, the business earned $6.08 EPS. The company’s quarterly revenue was up 1.8% on a year-over-year basis. Equities research analysts predict that Parker-Hannifin Co. will post 26.68 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be paid a $1.63 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $6.52 annualized dividend and a dividend yield of 1.05%. Parker-Hannifin’s payout ratio is 29.92%.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on PH. Wells Fargo & Company raised their price target 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. TD Cowen boosted their target price on shares of Parker-Hannifin from $500.00 to $520.00 and gave the stock a “hold” rating in a research note on Wednesday, September 11th. Robert W. Baird increased their price target on Parker-Hannifin from $622.00 to $654.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Raymond James boosted their price objective on Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. Finally, Truist Financial increased their target price on Parker-Hannifin from $673.00 to $788.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to data from MarketBeat, Parker-Hannifin has a consensus rating of “Moderate Buy” and a consensus target price of $660.57.

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.