Joseph Group Capital Management Has $4.39 Million Holdings in Parker-Hannifin Co. (NYSE:PH)

Joseph Group Capital Management boosted its holdings in Parker-Hannifin Co. (NYSE:PH) by 13.2% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 6,942 shares of the industrial products company’s stock after purchasing an additional 809 shares during the quarter. Parker-Hannifin accounts for about 1.7% of Joseph Group Capital Management’s portfolio, making the stock its 11th largest holding. Joseph Group Capital Management’s holdings in Parker-Hannifin were worth $4,386,000 at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the business. Addison Advisors LLC acquired a new stake in shares of Parker-Hannifin during the 2nd quarter worth $25,000. West Branch Capital LLC acquired a new stake in Parker-Hannifin during the third quarter worth about $25,000. Bangor Savings Bank grew its stake in Parker-Hannifin by 238.5% during the third 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 valued at $34,000 after buying an additional 52 shares during the period. Finally, Crewe Advisors LLC acquired a new position in shares of Parker-Hannifin in the 1st quarter valued at approximately $38,000. Institutional investors own 82.44% of the company’s stock.

Analyst Ratings Changes

Several research analysts have commented on the stock. Raymond James boosted their price objective on shares of Parker-Hannifin from $610.00 to $650.00 and gave the company an “outperform” rating in a research report on Wednesday, September 4th. Robert W. Baird boosted their price target on Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Stifel Nicolaus lowered Parker-Hannifin from a “buy” rating to a “hold” rating and set a $691.00 price objective on the stock. in a research note on Monday. Truist Financial lifted their target price on Parker-Hannifin from $673.00 to $788.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. Finally, Wells Fargo & Company increased their target price on shares of Parker-Hannifin from $640.00 to $710.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Three research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $688.07.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock opened at $691.68 on Tuesday. The stock has a market cap of $89.03 billion, a price-to-earnings ratio of 31.24, a P/E/G ratio of 2.82 and a beta of 1.43. Parker-Hannifin Co. has a twelve month low of $426.49 and a twelve month high of $711.60. The company’s fifty day moving average is $638.42 and its 200 day moving average is $576.52. 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 (NYSE:PH) last announced its earnings results on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, topping the consensus estimate of $6.14 by $0.06. The firm 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%. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the business earned $5.96 EPS. Sell-side analysts forecast that Parker-Hannifin Co. will post 26.77 EPS for the current year.

Parker-Hannifin Dividend Announcement

The company also recently declared 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. The ex-dividend date is Friday, November 8th. This represents a $6.52 annualized dividend and a yield of 0.94%. Parker-Hannifin’s payout ratio is 29.45%.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,430 shares of the stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the completion of the sale, the vice president now directly owns 5,465 shares in the company, valued at approximately $3,831,839.40. This trade represents a 30.78 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, VP Berend Bracht sold 850 shares of Parker-Hannifin stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $592.92, for a total value of $503,982.00. Following the completion of the transaction, the vice president now directly owns 3,350 shares of the company’s stock, valued at approximately $1,986,282. This trade represents a 20.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,927 shares of company stock worth $12,807,811. Company insiders own 0.39% of the company’s stock.

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.