Huntington National Bank Cuts Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Huntington National Bank lessened its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 11.0% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 164,990 shares of the industrial products company’s stock after selling 20,455 shares during the period. Huntington National Bank’s holdings in Parker-Hannifin were worth $104,244,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently made changes to their positions in the company. CVA Family Office LLC grew its holdings in shares of Parker-Hannifin by 3.9% in the third quarter. CVA Family Office LLC now owns 425 shares of the industrial products company’s stock valued at $269,000 after purchasing an additional 16 shares in the last quarter. Sonoma Private Wealth LLC boosted its stake in Parker-Hannifin by 2.9% during the third quarter. Sonoma Private Wealth LLC now owns 667 shares of the industrial products company’s stock worth $421,000 after buying an additional 19 shares during the period. W Advisors LLC boosted its stake in Parker-Hannifin by 3.4% during the third quarter. W Advisors LLC now owns 581 shares of the industrial products company’s stock worth $367,000 after buying an additional 19 shares during the period. Simmons Bank boosted its stake in Parker-Hannifin by 0.7% during the third quarter. Simmons Bank now owns 2,753 shares of the industrial products company’s stock worth $1,739,000 after buying an additional 19 shares during the period. Finally, American Trust boosted its stake in Parker-Hannifin by 3.2% during the first quarter. American Trust now owns 649 shares of the industrial products company’s stock worth $361,000 after buying an additional 20 shares during the period. 82.44% of the stock is owned by institutional investors.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, VP Joseph R. Leonti sold 5,877 shares of the company’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $631.04, for a total value of $3,708,622.08. Following the completion of the sale, the vice president now directly owns 15,350 shares in the company, valued at $9,686,464. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, VP Joseph R. Leonti sold 5,877 shares of the stock in a transaction 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 transaction, the vice president now directly owns 15,350 shares in the company, valued at approximately $9,686,464. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Berend Bracht sold 850 shares of the stock in a transaction 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 approximately $1,986,282. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 18,927 shares of company stock valued at $12,807,811. 0.39% of the stock is owned by insiders.

Parker-Hannifin Trading Up 1.0 %

Shares of NYSE:PH opened at $706.54 on Thursday. Parker-Hannifin Co. has a 12-month low of $422.36 and a 12-month high of $711.60. The company has a market capitalization of $90.95 billion, a PE ratio of 31.91, a PEG ratio of 2.82 and a beta of 1.43. The business has a 50 day moving average of $628.60 and a two-hundred day moving average of $572.14. The company has a current ratio of 0.96, a quick ratio of 0.57 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 earnings per share for the quarter, topping the consensus estimate of $6.14 by $0.06. The business had revenue of $4.90 billion during 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% on a year-over-year basis. During the same period in the prior year, the company posted $5.96 EPS. As a group, analysts forecast that Parker-Hannifin Co. will post 26.77 EPS for the current year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 8th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.92%. The ex-dividend date of this dividend is Friday, November 8th. Parker-Hannifin’s dividend payout ratio is currently 29.45%.

Wall Street Analysts Forecast Growth

Several research firms have commented on PH. Argus lifted their price objective on shares of Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Truist Financial lifted their target price on Parker-Hannifin from $673.00 to $788.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. KeyCorp lifted their target price on Parker-Hannifin from $640.00 to $725.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Robert W. Baird lifted their target price on Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Finally, UBS Group assumed coverage on Parker-Hannifin in a research report on Wednesday. They set a “buy” rating and a $842.00 target price for the company. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $688.07.

Parker-Hannifin 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.