Fulton Breakefield Broenniman LLC Lowers Stock Position in Parker-Hannifin Co. (NYSE:PH)

Fulton Breakefield Broenniman LLC cut its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 49.8% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 600 shares of the industrial products company’s stock after selling 595 shares during the period. Fulton Breakefield Broenniman LLC’s holdings in Parker-Hannifin were worth $379,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of PH. Addison Advisors LLC purchased a new position in shares of Parker-Hannifin during the second quarter worth approximately $25,000. Bangor Savings Bank lifted its holdings in shares of Parker-Hannifin by 238.5% during the third quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 31 shares during the period. Harbor Investment Advisory LLC lifted its holdings in shares of Parker-Hannifin by 60.6% during the first quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 20 shares during the period. Newbridge Financial Services Group Inc. acquired a new stake in shares of Parker-Hannifin during the fourth quarter worth $30,000. Finally, Northwest Investment Counselors LLC acquired a new stake in shares of Parker-Hannifin during the first quarter worth $31,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

PH has been the subject of several recent research reports. Truist Financial increased their price target on Parker-Hannifin from $673.00 to $788.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. KeyCorp raised their target price on Parker-Hannifin from $640.00 to $725.00 and gave the company an “overweight” rating in a report on Monday. Stifel Nicolaus raised their target price on Parker-Hannifin from $633.00 to $691.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Barclays raised their target price on Parker-Hannifin from $650.00 to $703.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. Finally, Raymond James raised their target price on Parker-Hannifin from $610.00 to $650.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $655.93.

Parker-Hannifin Trading Down 0.1 %

Parker-Hannifin stock opened at $637.48 on Thursday. The stock has a market cap of $81.94 billion, a PE ratio of 30.04, a P/E/G ratio of 2.57 and a beta of 1.43. The stock has a 50-day moving average price of $603.46 and a 200 day moving average price of $558.68. Parker-Hannifin Co. has a 52 week low of $362.49 and a 52 week high of $646.60. The company has a current ratio of 0.93, a quick ratio of 0.55 and a debt-to-equity ratio of 0.59.

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

Parker-Hannifin Announces Dividend

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

Insider Activity

In other 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 value of $503,982.00. Following the transaction, the vice president now directly 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 document filed with the SEC, which is available at this link. In related news, Director Joseph Scaminace sold 1,751 shares of the business’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 transaction, the director now directly owns 3,900 shares of the company’s stock, valued at approximately $2,299,947. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Berend Bracht sold 850 shares of the business’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 directly owns 3,350 shares in the company, valued at $1,986,282. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 1.03% of the company’s stock.

Parker-Hannifin Company 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.