Trinity Wealth Management LLC Purchases Shares of 366 Parker-Hannifin Co. (NYSE:PH)

Trinity Wealth Management LLC acquired a new position in Parker-Hannifin Co. (NYSE:PH) during the third quarter, HoldingsChannel.com reports. The fund acquired 366 shares of the industrial products company’s stock, valued at approximately $231,000.

Several other large investors also recently added to or reduced their stakes in PH. Banque Cantonale Vaudoise increased its position in Parker-Hannifin by 89.7% in the first quarter. Banque Cantonale Vaudoise now owns 772 shares of the industrial products company’s stock worth $429,000 after buying an additional 365 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in Parker-Hannifin by 11.5% during the first quarter. International Assets Investment Management LLC now owns 532 shares of the industrial products company’s stock valued at $293,000 after purchasing an additional 55 shares in the last quarter. Ballentine Partners LLC boosted its position in shares of Parker-Hannifin by 14.5% in the first quarter. Ballentine Partners LLC now owns 1,363 shares of the industrial products company’s stock worth $758,000 after purchasing an additional 173 shares during the period. Game Plan Financial Advisors LLC purchased a new stake in shares of Parker-Hannifin in the first quarter worth $42,000. Finally, Northwest Investment Counselors LLC bought a new stake in shares of Parker-Hannifin during the 1st quarter valued at $31,000. 82.44% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Parker-Hannifin

In related news, Director Joseph Scaminace sold 1,751 shares of the business’s 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 completion of the transaction, the director now owns 3,900 shares in the company, valued at $2,299,947. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of the 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 directly owns 3,350 shares of the company’s stock, valued at $1,986,282. This trade represents a 0.00 % 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, Director Joseph Scaminace sold 1,751 shares of the stock in a transaction on 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 transaction, the director now directly owns 3,900 shares of the company’s stock, valued at approximately $2,299,947. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 1.03% of the company’s stock.

Analysts Set New Price Targets

PH has been the subject of a number of analyst reports. Wells Fargo & Company increased their price target on Parker-Hannifin from $640.00 to $710.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Deutsche Bank Aktiengesellschaft increased their target price on Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Robert W. Baird boosted their price target on Parker-Hannifin from $622.00 to $654.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Finally, Evercore ISI boosted their target price on shares of Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. 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, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $660.57.

Parker-Hannifin Trading Up 0.1 %

PH stock traded up $0.60 during midday trading on Friday, reaching $640.44. 612,423 shares of the company traded hands, compared to its average volume of 638,305. The firm has a market capitalization of $82.32 billion, a price-to-earnings ratio of 30.18, a P/E/G ratio of 2.61 and a beta of 1.43. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.55 and a current ratio of 0.93. The business has a 50 day moving average of $606.31 and a 200-day moving average of $559.95. Parker-Hannifin Co. has a 52-week low of $362.49 and a 52-week high of $646.60.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data 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 company had revenue of $5.19 billion during the quarter, compared to analysts’ expectations of $5.08 billion. During the same quarter in the previous year, the business earned $6.08 EPS. Parker-Hannifin’s revenue was up 1.8% compared to the same quarter last year. As a group, sell-side analysts expect that Parker-Hannifin Co. will post 26.64 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Wednesday, August 28th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date was Wednesday, August 28th. Parker-Hannifin’s payout ratio is currently 30.73%.

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.