Fort Pitt Capital Group LLC Has $136.04 Million Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Fort Pitt Capital Group LLC cut its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 1.6% in the 3rd quarter, Holdings Channel.com reports. The fund owned 215,319 shares of the industrial products company’s stock after selling 3,524 shares during the period. Parker-Hannifin comprises about 3.8% of Fort Pitt Capital Group LLC’s holdings, making the stock its 9th largest position. Fort Pitt Capital Group LLC’s holdings in Parker-Hannifin were worth $136,043,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Addison Advisors LLC bought a new stake in Parker-Hannifin in the 2nd quarter worth about $25,000. West Branch Capital LLC bought a new stake in Parker-Hannifin in the 3rd quarter worth about $25,000. Bangor Savings Bank increased its holdings in Parker-Hannifin by 238.5% in 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 in the last quarter. Fortitude Family Office LLC increased its holdings in Parker-Hannifin by 346.7% in 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 in the last quarter. Finally, Crewe Advisors LLC bought a new stake in Parker-Hannifin in the 1st quarter worth about $38,000. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Stock Up 0.2 %

PH stock opened at $635.03 on Friday. Parker-Hannifin Co. has a twelve month low of $395.00 and a twelve month high of $646.60. The company has a quick ratio of 0.55, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. The stock has a market cap of $81.71 billion, a P/E ratio of 28.68, a PEG ratio of 2.57 and a beta of 1.43. The business’s 50-day moving average price is $615.46 and its 200-day moving average price is $565.05.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, topping analysts’ consensus estimates of $6.14 by $0.06. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The company had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.90 billion. During the same period in the previous year, the firm earned $5.96 EPS. The firm’s revenue was up 1.2% compared to the same quarter last year. On average, equities research analysts forecast that Parker-Hannifin Co. will post 26.67 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. Investors of record on Friday, November 8th will be issued a $1.63 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a yield of 1.03%. Parker-Hannifin’s dividend payout ratio is presently 29.45%.

Insider Buying and Selling

In related 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 directly owns 3,350 shares of the company’s stock, valued at approximately $1,986,282. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related 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 directly owns 3,350 shares of the company’s stock, valued at approximately $1,986,282. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph Scaminace sold 1,751 shares of Parker-Hannifin stock in a transaction that occurred on Thursday, August 15th. The stock was 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 directly owns 3,900 shares in the company, valued at approximately $2,299,947. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.39% of the stock is owned by insiders.

Analysts Set New Price Targets

Several research firms recently commented on PH. StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Raymond James raised their target price on Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. KeyCorp raised their target price on Parker-Hannifin from $640.00 to $725.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Wells Fargo & Company raised their target price on Parker-Hannifin from $640.00 to $710.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Finally, Barclays raised their target price on Parker-Hannifin from $650.00 to $703.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 2nd. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat.com, Parker-Hannifin has a consensus rating of “Moderate Buy” and a consensus price target of $664.57.

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.