Caprock Group LLC Grows Stock Position in Parker-Hannifin Co. (NYSE:PH)

Caprock Group LLC boosted its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 9.9% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 3,283 shares of the industrial products company’s stock after acquiring an additional 297 shares during the quarter. Caprock Group LLC’s holdings in Parker-Hannifin were worth $2,074,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also bought and sold shares of the company. Pathstone Holdings LLC increased its position in shares of Parker-Hannifin by 13.4% in the third quarter. Pathstone Holdings LLC now owns 18,551 shares of the industrial products company’s stock valued at $11,721,000 after acquiring an additional 2,186 shares during the period. Aviance Capital Partners LLC increased its holdings in Parker-Hannifin by 9.7% during the 3rd quarter. Aviance Capital Partners LLC now owns 543 shares of the industrial products company’s stock valued at $343,000 after purchasing an additional 48 shares during the period. Baron Wealth Management LLC raised its position in Parker-Hannifin by 22.5% during the 3rd quarter. Baron Wealth Management LLC now owns 1,061 shares of the industrial products company’s stock valued at $671,000 after purchasing an additional 195 shares during the last quarter. Joseph Group Capital Management lifted its holdings in Parker-Hannifin by 13.2% in the 3rd quarter. Joseph Group Capital Management now owns 6,942 shares of the industrial products company’s stock worth $4,386,000 after buying an additional 809 shares during the period. Finally, OneAscent Wealth Management LLC bought a new stake in shares of Parker-Hannifin in the 3rd quarter worth approximately $207,000. 82.44% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on PH shares. UBS Group started coverage on shares of Parker-Hannifin in a report on Wednesday, November 13th. They issued a “buy” rating and a $842.00 price target on the stock. Stifel Nicolaus cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating and set a $691.00 price target on the stock. in a research report on Monday. Truist Financial increased their price target on shares of Parker-Hannifin from $673.00 to $788.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Wells Fargo & Company lifted their price objective on Parker-Hannifin from $640.00 to $710.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. Finally, Argus increased their target price on Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Three analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $688.07.

Parker-Hannifin Price Performance

PH opened at $689.56 on Wednesday. The company’s 50-day simple moving average is $640.59 and its two-hundred day simple moving average is $577.60. Parker-Hannifin Co. has a 52-week low of $426.49 and a 52-week high of $711.60. The stock has a market capitalization of $88.76 billion, a P/E ratio of 31.15, a P/E/G ratio of 2.82 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 issued its earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, topping 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 analysts’ expectations of $4.90 billion. During the same quarter last year, the company posted $5.96 earnings per share. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. As a group, analysts predict that Parker-Hannifin Co. will post 26.77 EPS for the current year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 0.95%. The ex-dividend date is Friday, November 8th. Parker-Hannifin’s dividend payout ratio is presently 29.45%.

Insider Activity

In related news, VP Berend Bracht sold 850 shares of Parker-Hannifin stock in a transaction 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 transaction, the vice president now owns 3,350 shares in the company, valued at approximately $1,986,282. The trade was a 20.24 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Thomas C. Gentile sold 2,430 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total value of $1,703,818.80. Following the sale, the vice president now directly owns 5,465 shares in the company, valued at approximately $3,831,839.40. This represents a 30.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 18,927 shares of company stock valued at $12,807,811 in the last 90 days. Company insiders own 0.39% of the company’s stock.

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.