Cyndeo Wealth Partners LLC trimmed its holdings in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 22.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 4,221 shares of the industrial products company's stock after selling 1,246 shares during the period. Cyndeo Wealth Partners LLC's holdings in Parker-Hannifin were worth $2,667,000 as of its most recent filing with the Securities and Exchange Commission.
Several other large investors have also recently bought and sold shares of PH. Addison Advisors LLC purchased a new position in Parker-Hannifin in the second quarter valued at about $25,000. Bangor Savings Bank grew its stake in Parker-Hannifin by 238.5% in the third quarter. Bangor Savings Bank now owns 44 shares of the industrial products company's stock valued at $28,000 after purchasing an additional 31 shares in the last quarter. Harbor Investment Advisory LLC grew its stake in Parker-Hannifin by 60.6% in the first quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company's stock valued at $29,000 after purchasing an additional 20 shares in the last quarter. Northwest Investment Counselors LLC purchased a new position in Parker-Hannifin in the first quarter valued at about $31,000. Finally, Fortitude Family Office LLC grew its stake in Parker-Hannifin by 346.7% in the second quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company's stock valued at $34,000 after purchasing an additional 52 shares in the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.
PH opened at $640.44 on Monday. The firm has a market capitalization of $82.32 billion, a P/E ratio of 30.18, a price-to-earnings-growth ratio of 2.61 and a beta of 1.43. The stock's 50 day moving average price is $606.31 and its two-hundred day moving average price is $559.96. The company has a quick ratio of 0.55, a current ratio of 0.93 and a debt-to-equity ratio of 0.59. Parker-Hannifin Co. has a 12-month low of $362.49 and a 12-month high of $646.60.
Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings data on Thursday, August 8th. The industrial products company reported $6.77 EPS for the quarter, topping analysts' consensus estimates of $6.22 by $0.55. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. The company had revenue of $5.19 billion during the quarter, compared to the consensus estimate of $5.08 billion. During the same quarter last year, the company earned $6.08 EPS. The company's quarterly revenue was up 1.8% on a year-over-year basis. On average, equities analysts forecast that Parker-Hannifin Co. will post 26.64 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Wednesday, August 28th were given a $1.63 dividend. The ex-dividend date was Wednesday, August 28th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.02%. Parker-Hannifin's dividend payout ratio is currently 30.73%.
A number of brokerages have commented on PH. KeyCorp boosted their target price on Parker-Hannifin from $640.00 to $725.00 and gave the company an "overweight" rating in a research note on Monday, October 14th. TD Cowen increased their price objective on Parker-Hannifin from $500.00 to $520.00 and gave the company a "hold" rating in a report on Wednesday, September 11th. Mizuho increased their price objective on Parker-Hannifin from $665.00 to $715.00 and gave the company an "outperform" rating in a report on Thursday. Robert W. Baird increased their price objective on Parker-Hannifin from $622.00 to $654.00 and gave the company an "outperform" rating in a report on Friday, August 9th. Finally, Barclays increased their price objective on Parker-Hannifin from $650.00 to $703.00 and gave the company an "overweight" rating in a report on Wednesday, October 2nd. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $660.57.
Read Our Latest Research Report on Parker-Hannifin
In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of the firm'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 completion of the sale, the vice president now owns 3,350 shares in the company, valued at approximately $1,986,282. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, Director Joseph Scaminace sold 1,751 shares of the firm's stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the completion of the transaction, the director now owns 3,900 shares in the company, valued at $2,299,947. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Berend Bracht sold 850 shares of the firm'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 owns 3,350 shares of the company's stock, valued at $1,986,282. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 1.03% of the company's stock.
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.
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