Bfsg LLC Buys 1,666 Shares of Parker-Hannifin Co. (NYSE:PH)

Bfsg LLC raised its stake in Parker-Hannifin Co. (NYSE:PH) by 4,063.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,707 shares of the industrial products company’s stock after purchasing an additional 1,666 shares during the period. Bfsg LLC’s holdings in Parker-Hannifin were worth $1,078,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in PH. TD Asset Management Inc grew its position in Parker-Hannifin by 152.1% in the 1st quarter. TD Asset Management Inc now owns 132,231 shares of the industrial products company’s stock valued at $73,493,000 after purchasing an additional 79,774 shares during the period. Daiwa Securities Group Inc. increased its position in shares of Parker-Hannifin by 8.5% during the first quarter. Daiwa Securities Group Inc. now owns 22,960 shares of the industrial products company’s stock worth $12,761,000 after acquiring an additional 1,802 shares in the last quarter. Concurrent Investment Advisors LLC raised its holdings in shares of Parker-Hannifin by 261.4% in the 1st quarter. Concurrent Investment Advisors LLC now owns 2,515 shares of the industrial products company’s stock worth $1,397,000 after acquiring an additional 1,819 shares during the last quarter. Oppenheimer Asset Management Inc. lifted its position in Parker-Hannifin by 54.1% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 17,165 shares of the industrial products company’s stock valued at $9,540,000 after acquiring an additional 6,029 shares in the last quarter. Finally, Janney Montgomery Scott LLC boosted its stake in Parker-Hannifin by 16.5% during the 1st quarter. Janney Montgomery Scott LLC now owns 42,523 shares of the industrial products company’s stock valued at $23,634,000 after purchasing an additional 6,013 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. TD Cowen increased their price objective on Parker-Hannifin from $500.00 to $520.00 and gave the stock a “hold” rating in a research note on Wednesday, September 11th. Truist Financial raised their price objective on Parker-Hannifin from $673.00 to $788.00 and gave the company a “buy” rating in a research note on Wednesday, October 9th. Raymond James upped their target price on shares of Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, October 12th. Finally, Mizuho upped their price objective on shares of Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a research report on Thursday. Two investment 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 company currently has a consensus rating of “Moderate Buy” and a consensus price target of $660.57.

Insiders Place Their Bets

In other news, Director Joseph Scaminace sold 1,751 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $589.73, for a total value of $1,032,617.23. Following the sale, the director now owns 3,900 shares of the company’s stock, valued at $2,299,947. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other Parker-Hannifin news, 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 transaction of $503,982.00. Following the completion of the transaction, the vice president now owns 3,350 shares of the company’s stock, valued at $1,986,282. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Joseph Scaminace sold 1,751 shares of the stock in a transaction dated 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 sale, the director now directly owns 3,900 shares in the company, valued at approximately $2,299,947. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 1.03% of the company’s stock.

Parker-Hannifin Trading Up 0.4 %

Shares of PH stock opened at $639.89 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.93 and a debt-to-equity ratio of 0.59. The firm has a market cap of $82.25 billion, a P/E ratio of 30.16, a PEG ratio of 2.57 and a beta of 1.43. The company has a 50 day moving average of $604.89 and a 200-day moving average of $559.24. Parker-Hannifin Co. has a 12-month low of $362.49 and a 12-month high of $646.60.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, August 8th. The industrial products company reported $6.77 earnings per share (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 business had revenue of $5.19 billion during the quarter, compared to the consensus estimate of $5.08 billion. During the same period last year, the business posted $6.08 earnings per share. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. Sell-side analysts anticipate that Parker-Hannifin Co. will post 26.64 earnings per share for the current year.

Parker-Hannifin Announces Dividend

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

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.