Parker-Hannifin Co. (NYSE:PH) Shares Bought by Physicians Financial Services Inc.

Physicians Financial Services Inc. increased its stake in Parker-Hannifin Co. (NYSE:PH) by 0.9% during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 5,890 shares of the industrial products company’s stock after acquiring an additional 50 shares during the period. Parker-Hannifin makes up 1.2% of Physicians Financial Services Inc.’s investment portfolio, making the stock its 25th largest position. Physicians Financial Services Inc.’s holdings in Parker-Hannifin were worth $3,721,000 as of its most recent filing with the SEC.

A number of other institutional investors have also recently bought and sold shares of the stock. Addison Advisors LLC acquired a new stake in shares of Parker-Hannifin in the second quarter worth $25,000. West Branch Capital LLC acquired a new stake in shares of Parker-Hannifin in the third quarter valued at about $25,000. Bangor Savings Bank raised its holdings in shares of Parker-Hannifin by 238.5% during the 3rd quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock valued at $28,000 after buying an additional 31 shares during the period. Fortitude Family Office LLC lifted its position in Parker-Hannifin by 346.7% during the 2nd quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 52 shares in the last quarter. Finally, Crewe Advisors LLC purchased a new position in Parker-Hannifin in the 1st quarter worth approximately $38,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, VP Joseph R. Leonti sold 5,877 shares of the stock in a transaction on Friday, November 1st. The shares were sold at an average price of $631.04, for a total transaction of $3,708,622.08. Following the transaction, the vice president now owns 15,350 shares of the company’s stock, valued at approximately $9,686,464. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, VP Berend Bracht sold 850 shares of the business’s 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 in the company, valued at $1,986,282. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Joseph R. Leonti sold 5,877 shares of Parker-Hannifin stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $631.04, for a total transaction of $3,708,622.08. Following the sale, the vice president now owns 15,350 shares in the company, valued at approximately $9,686,464. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 8,478 shares of company stock valued at $5,245,221 in the last quarter. Corporate insiders own 0.39% of the company’s stock.

Parker-Hannifin Trading Up 0.6 %

PH stock traded up $4.35 during trading on Friday, hitting $694.12. The company had a trading volume of 28,231 shares, compared to its average volume of 645,030. 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 Co. has a one year low of $410.86 and a one year high of $709.63. The business has a 50-day moving average of $620.09 and a 200-day moving average of $567.76. The stock has a market cap of $89.31 billion, a PE ratio of 31.17, a PEG ratio of 2.57 and a beta of 1.43.

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

Parker-Hannifin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be issued a $1.63 dividend. The ex-dividend date is Friday, November 8th. This represents a $6.52 annualized dividend and a dividend yield of 0.94%. Parker-Hannifin’s payout ratio is currently 29.45%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on PH. Deutsche Bank Aktiengesellschaft upped their target price on shares of Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Wells Fargo & Company raised their target price on Parker-Hannifin from $640.00 to $710.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Mizuho boosted their price target on Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Raymond James raised their price objective 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, Truist Financial lifted their price target on shares of Parker-Hannifin from $673.00 to $788.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.