First Pacific Financial Sells 23 Shares of Parker-Hannifin Co. (NYSE:PH)

First Pacific Financial lowered its holdings in Parker-Hannifin Co. (NYSE:PH) by 1.0% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 2,175 shares of the industrial products company’s stock after selling 23 shares during the quarter. First Pacific Financial’s holdings in Parker-Hannifin were worth $1,374,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Bangor Savings Bank grew its position in shares of 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 last quarter. Addison Advisors LLC purchased a new position in shares of Parker-Hannifin in the 2nd quarter worth approximately $25,000. Harbor Investment Advisory LLC grew its position in shares of Parker-Hannifin by 60.6% in the 1st quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock worth $29,000 after buying an additional 20 shares during the last quarter. Northwest Investment Counselors LLC purchased a new position in shares of Parker-Hannifin in the 1st quarter worth approximately $31,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in shares of Parker-Hannifin in the 4th quarter worth approximately $30,000. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of PH traded down $5.51 during trading hours on Tuesday, hitting $638.02. The stock had a trading volume of 632,341 shares, compared to its average volume of 639,826. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.55 and a current ratio of 0.93. The firm has a 50-day moving average price of $598.57 and a 200 day moving average price of $557.54. Parker-Hannifin Co. has a fifty-two week low of $362.49 and a fifty-two week high of $646.60. The firm has a market capitalization of $82.01 billion, a price-to-earnings ratio of 30.33, a PEG ratio of 2.57 and a beta of 1.43.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, August 8th. The industrial products company reported $6.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.22 by $0.55. Parker-Hannifin had a net margin of 14.27% and a return on equity of 29.08%. The firm had revenue of $5.19 billion during the quarter, compared to analysts’ expectations of $5.08 billion. During the same period in the previous year, the business posted $6.08 EPS. The business’s revenue was up 1.8% compared to the same quarter last year. As a group, research analysts anticipate that Parker-Hannifin Co. will post 26.64 EPS for the current year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Wednesday, August 28th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend was Wednesday, August 28th. Parker-Hannifin’s dividend payout ratio is presently 30.73%.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $592.92, for a total transaction of $503,982.00. Following the completion of the transaction, the vice president now directly owns 3,350 shares in the company, valued at approximately $1,986,282. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, VP Berend Bracht sold 850 shares of the company’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $592.92, for a total transaction of $503,982.00. Following the completion of the sale, the vice president now owns 3,350 shares of the company’s stock, valued at $1,986,282. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Joseph Scaminace sold 1,751 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the completion of the sale, the director now directly owns 3,900 shares of the company’s stock, valued at $2,299,947. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.03% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts have weighed in on PH shares. Evercore ISI boosted their target price on shares of Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Raymond James boosted their target price on shares of Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. Barclays boosted their target price on shares of Parker-Hannifin from $650.00 to $703.00 and gave the stock an “overweight” rating in a research report 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 stock a “buy” rating in a research report on Friday, August 9th. Finally, StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and a consensus price target of $655.93.

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.