Crestwood Advisors Group LLC Purchases 70 Shares of Parker-Hannifin Co. (NYSE:PH)

Crestwood Advisors Group LLC lifted its position in shares of Parker-Hannifin Co. (NYSE:PH) by 3.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,998 shares of the industrial products company’s stock after buying an additional 70 shares during the quarter. Crestwood Advisors Group LLC’s holdings in Parker-Hannifin were worth $1,262,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in PH. Norden Group LLC bought a new position in shares of Parker-Hannifin during the 1st quarter worth $350,000. Private Advisor Group LLC lifted its stake in shares of Parker-Hannifin by 5.3% during the 1st quarter. Private Advisor Group LLC now owns 4,392 shares of the industrial products company’s stock worth $2,441,000 after purchasing an additional 220 shares during the last quarter. Rehmann Capital Advisory Group purchased a new stake in shares of Parker-Hannifin during the 1st quarter worth $325,000. Mediolanum International Funds Ltd purchased a new stake in shares of Parker-Hannifin during the 1st quarter worth $1,163,000. Finally, Catalina Capital Group LLC purchased a new stake in shares of Parker-Hannifin during the 1st quarter worth $341,000. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Up 2.4 %

Shares of PH stock opened at $653.57 on Wednesday. The stock’s 50-day simple moving average is $617.66 and its 200-day simple moving average is $566.76. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96. The firm has a market capitalization of $84.09 billion, a PE ratio of 29.52, a P/E/G ratio of 2.56 and a beta of 1.43. Parker-Hannifin Co. has a fifty-two week low of $399.19 and a fifty-two week high of $653.97.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, beating analysts’ consensus estimates of $6.14 by $0.06. The business had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.90 billion. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The company’s revenue was up 1.2% on a year-over-year basis. During the same period in the prior year, the company earned $5.96 earnings per share. Equities analysts expect that Parker-Hannifin Co. will post 26.84 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 8th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.00%. The ex-dividend date is Friday, November 8th. Parker-Hannifin’s dividend payout ratio (DPR) is 29.45%.

Insider Buying and Selling

In related news, VP Joseph R. Leonti sold 5,877 shares of the firm’s stock in a transaction dated 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 sale, the vice president now directly owns 15,350 shares of the company’s stock, valued at $9,686,464. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, VP Joseph R. Leonti sold 5,877 shares of the firm’s stock in a transaction dated 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 sale, the vice president now directly owns 15,350 shares of the company’s stock, valued at $9,686,464. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Joseph Scaminace sold 1,751 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $589.73, for a total value of $1,032,617.23. Following the sale, the director now directly owns 3,900 shares in the company, valued at approximately $2,299,947. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 8,478 shares of company stock valued at $5,245,221 over the last ninety days. Company insiders own 0.39% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company upped their price objective on Parker-Hannifin from $640.00 to $710.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Argus upped their price objective on Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research note on Tuesday. Truist Financial upped their price objective on Parker-Hannifin from $673.00 to $788.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Raymond James increased their price target on Parker-Hannifin from $610.00 to $650.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. Finally, Barclays increased their price target on Parker-Hannifin from $650.00 to $703.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and an average price target of $673.14.

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.