Strengthening Families & Communities LLC Purchases 288 Shares of Parker-Hannifin Co. (NYSE:PH)

Strengthening Families & Communities LLC increased its position in Parker-Hannifin Co. (NYSE:PH) by 5.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 5,839 shares of the industrial products company’s stock after acquiring an additional 288 shares during the period. Parker-Hannifin comprises approximately 0.9% of Strengthening Families & Communities LLC’s holdings, making the stock its 24th largest position. Strengthening Families & Communities LLC’s holdings in Parker-Hannifin were worth $3,689,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in PH. Addison Advisors LLC bought a new stake in shares of Parker-Hannifin in the second quarter worth approximately $25,000. West Branch Capital LLC purchased a new stake in Parker-Hannifin in the third quarter worth approximately $25,000. Bangor Savings Bank grew its position 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 purchasing an additional 31 shares during the period. Fortitude Family Office LLC raised its stake in Parker-Hannifin by 346.7% during the 2nd quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company’s stock valued at $34,000 after buying an additional 52 shares during the last quarter. Finally, Crewe Advisors LLC bought a new position in shares of Parker-Hannifin during the 1st quarter valued at $38,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Parker-Hannifin Stock Up 0.2 %

Shares of PH opened at $698.91 on Monday. Parker-Hannifin Co. has a 12-month low of $425.20 and a 12-month high of $711.60. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. The company 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. The business’s 50 day moving average is $636.19 and its 200 day moving average is $575.38.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (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 firm had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.90 billion. During the same quarter last year, the business posted $5.96 earnings per share. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. Research analysts expect that Parker-Hannifin Co. will post 26.77 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

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

Insider Activity

In other Parker-Hannifin news, VP Joseph R. Leonti sold 5,877 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $631.04, for a total transaction of $3,708,622.08. Following the completion of the transaction, the vice president now owns 15,350 shares in the company, valued at $9,686,464. This trade represents a 27.69 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Jennifer A. Parmentier sold 4,906 shares of Parker-Hannifin stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $704.69, for a total transaction of $3,457,209.14. Following the completion of the transaction, the chief executive officer now directly owns 33,607 shares of the company’s stock, valued at $23,682,516.83. The trade was a 12.74 % 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 worth $12,807,811 over the last 90 days. Corporate insiders own 0.39% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently commented on PH shares. Mizuho lifted their price objective on Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a report on Thursday, October 17th. StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Stifel Nicolaus increased their price objective on shares of Parker-Hannifin from $633.00 to $691.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Finally, KeyCorp increased their price target on shares of Parker-Hannifin from $640.00 to $725.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Two equities research analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $688.07.

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.