Stock Yards Bank & Trust Co. Purchases New Stake in Parker-Hannifin Co. (NYSE:PH)

Stock Yards Bank & Trust Co. purchased a new stake in shares of Parker-Hannifin Co. (NYSE:PH) in the 3rd quarter, Holdings Channel reports. The institutional investor purchased 343 shares of the industrial products company’s stock, valued at approximately $217,000.

A number of other large 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 about $25,000. West Branch Capital LLC bought a new position in Parker-Hannifin during the 3rd quarter valued at approximately $25,000. Bangor Savings Bank lifted 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 during the period. Prestige Wealth Management Group LLC grew its position in shares of Parker-Hannifin by 83.3% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after buying an additional 25 shares during the last quarter. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Parker-Hannifin during the third quarter valued at approximately $39,000. Institutional investors own 82.44% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently commented on PH shares. Raymond James raised their price target on Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. Truist Financial raised their target price on shares of Parker-Hannifin from $673.00 to $788.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Wells Fargo & Company boosted their price target on shares of Parker-Hannifin from $640.00 to $710.00 and gave the company an “overweight” rating in a research report on Monday, October 7th. StockNews.com upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Finally, Stifel Nicolaus cut Parker-Hannifin from a “buy” rating to a “hold” rating and set a $691.00 price objective on the stock. in a research report on Monday, November 18th. Two research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $709.65.

Parker-Hannifin Price Performance

Shares of NYSE:PH opened at $671.90 on Friday. The business has a fifty day moving average price of $668.62 and a 200-day moving average price of $595.71. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57. The company has a market capitalization of $86.49 billion, a PE ratio of 30.35, a PEG ratio of 2.77 and a beta of 1.43. Parker-Hannifin Co. has a 1-year low of $440.00 and a 1-year high of $712.42.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, beating analysts’ consensus estimates of $6.14 by $0.06. The business had revenue of $4.90 billion during the quarter, compared to analyst estimates of $4.90 billion. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. Parker-Hannifin’s revenue was up 1.2% compared to the same quarter last year. During the same period last year, the business earned $5.96 EPS. As a group, equities analysts expect that Parker-Hannifin Co. will post 26.75 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, December 6th. Investors of record on Friday, November 8th were given a $1.63 dividend. The ex-dividend date was Friday, November 8th. This represents a $6.52 annualized dividend and a yield of 0.97%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 29.45%.

Insider Activity at Parker-Hannifin

In other news, VP Thomas C. Gentile sold 2,430 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the completion of the transaction, the vice president now directly owns 5,465 shares of the company’s stock, valued at $3,831,839.40. The trade was a 30.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, VP Joseph R. Leonti sold 5,877 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The stock was sold at an average price of $631.04, for a total transaction of $3,708,622.08. Following the completion of the sale, the vice president now owns 15,350 shares in the company, valued at $9,686,464. This represents a 27.69 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 18,077 shares of company stock valued at $12,303,829. 0.39% of the stock is owned by corporate insiders.

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.