Umpqua Bank Decreases Holdings in Parker-Hannifin Co. (NYSE:PH)

Umpqua Bank decreased its position in shares of Parker-Hannifin Co. (NYSE:PH) by 2.1% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,690 shares of the industrial products company’s stock after selling 124 shares during the quarter. Parker-Hannifin accounts for about 1.3% of Umpqua Bank’s holdings, making the stock its 15th biggest position. Umpqua Bank’s holdings in Parker-Hannifin were worth $3,595,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of PH. Addison Advisors LLC acquired a new position in shares of Parker-Hannifin during the 2nd quarter worth approximately $25,000. West Branch Capital LLC acquired a new stake in shares of Parker-Hannifin during the 3rd quarter worth $25,000. Bangor Savings Bank increased 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 worth $28,000 after buying an additional 31 shares during the last quarter. Fortitude Family Office LLC increased its holdings in shares of 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 buying an additional 52 shares during the last quarter. Finally, Crewe Advisors LLC acquired a new stake in shares of Parker-Hannifin during the 1st quarter worth $38,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Insider Activity

In other news, VP Berend Bracht sold 850 shares of the stock in a transaction that occurred on 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 directly owns 3,350 shares in the company, valued at $1,986,282. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, VP Berend Bracht sold 850 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $592.92, for a total transaction 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 trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Joseph R. Leonti sold 5,877 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $631.04, for a total transaction of $3,708,622.08. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 8,478 shares of company stock worth $5,245,221 over the last three months. Corporate insiders own 0.39% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of NYSE:PH traded up $46.67 during trading hours on Wednesday, hitting $700.12. The stock had a trading volume of 119,037 shares, compared to its average volume of 637,782. The stock’s fifty day simple moving average is $617.66 and its 200 day simple moving average is $566.76. Parker-Hannifin Co. has a 1-year low of $401.31 and a 1-year high of $707.83. The firm has a market capitalization of $90.08 billion, a price-to-earnings ratio of 29.52, a PEG ratio of 2.56 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 announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 EPS 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 company had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same quarter last year, the business earned $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 26.84 earnings per share 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. Stockholders of record on Friday, November 8th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 0.93%. The ex-dividend date of this dividend is Friday, November 8th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 29.45%.

Analyst Ratings Changes

A number of analysts have recently commented on the company. Raymond James upped their price objective on Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Stifel Nicolaus upped their price target on shares of Parker-Hannifin from $633.00 to $691.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Truist Financial upped their price target on shares of Parker-Hannifin from $673.00 to $788.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. TD Cowen upped their price objective on shares of Parker-Hannifin from $500.00 to $520.00 and gave the company a “hold” rating in a research report on Wednesday, September 11th. Finally, Argus upped their price objective on shares of Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a research report on Tuesday. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $673.14.

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.