484 Shares in Parker-Hannifin Co. (NYSE:PH) Bought by Atlanta Consulting Group Advisors LLC

Atlanta Consulting Group Advisors LLC bought a new stake in Parker-Hannifin Co. (NYSE:PH) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 484 shares of the industrial products company’s stock, valued at approximately $306,000.

A number of other large investors have also added to or reduced their stakes in PH. Jupiter Asset Management Ltd. purchased a new position in Parker-Hannifin during the 1st quarter worth $301,000. Acadian Asset Management LLC grew its stake in shares of Parker-Hannifin by 458.1% during the first quarter. Acadian Asset Management LLC now owns 3,354 shares of the industrial products company’s stock worth $1,862,000 after acquiring an additional 2,753 shares during the last quarter. Edgestream Partners L.P. increased its holdings in shares of Parker-Hannifin by 40.9% during the first quarter. Edgestream Partners L.P. now owns 981 shares of the industrial products company’s stock valued at $545,000 after acquiring an additional 285 shares in the last quarter. O Shaughnessy Asset Management LLC raised its position in shares of Parker-Hannifin by 25.3% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 30,560 shares of the industrial products company’s stock valued at $16,985,000 after purchasing an additional 6,180 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its stake in Parker-Hannifin by 32.4% in the 1st quarter. Clearbridge Investments LLC now owns 2,650 shares of the industrial products company’s stock worth $1,473,000 after purchasing an additional 649 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Price Performance

NYSE:PH opened at $698.91 on Monday. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. Parker-Hannifin Co. has a 52 week low of $425.20 and a 52 week high of $711.60. The stock’s 50-day moving average price is $636.19 and its 200-day moving average price is $575.38. The stock has a market capitalization of $89.96 billion, a PE ratio of 31.57, a price-to-earnings-growth ratio of 2.82 and a beta of 1.43.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.14 by $0.06. The company had revenue of $4.90 billion for the quarter, compared to the consensus estimate of $4.90 billion. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. Parker-Hannifin’s revenue for the quarter was up 1.2% on a year-over-year basis. During the same quarter in the prior year, the business posted $5.96 earnings per share. As a group, equities analysts expect that Parker-Hannifin Co. will post 26.77 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be given a $1.63 dividend. The ex-dividend date is Friday, November 8th. This represents a $6.52 annualized dividend and a dividend yield of 0.93%. Parker-Hannifin’s dividend payout ratio (DPR) is 29.45%.

Insider Activity

In other news, COO Andrew D. Ross sold 4,864 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total transaction of $3,434,178.56. Following the completion of the sale, the chief operating officer now owns 13,120 shares of the company’s stock, valued at $9,263,244.80. This represents a 27.05 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Berend Bracht sold 850 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $592.92, for a total transaction of $503,982.00. Following the completion of the transaction, the vice president now directly owns 3,350 shares in the company, valued at approximately $1,986,282. This represents a 20.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 18,927 shares of company stock worth $12,807,811 over the last 90 days. 0.39% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on the stock. Truist Financial upped their price target on shares of Parker-Hannifin from $673.00 to $788.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft raised their target price on Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. TD Cowen increased their price objective on Parker-Hannifin from $520.00 to $575.00 and gave the company a “hold” rating in a report on Tuesday, November 12th. Barclays upped their target price on Parker-Hannifin from $650.00 to $703.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Finally, Raymond James raised their price target on shares of Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. Two analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $688.07.

About Parker-Hannifin

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.