Aaron Wealth Advisors LLC Acquires 26 Shares of Parker-Hannifin Co. (NYSE:PH)

Aaron Wealth Advisors LLC lifted its holdings in Parker-Hannifin Co. (NYSE:PH) by 6.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 438 shares of the industrial products company’s stock after purchasing an additional 26 shares during the period. Aaron Wealth Advisors LLC’s holdings in Parker-Hannifin were worth $277,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the business. Bangor Savings Bank lifted its position in shares of Parker-Hannifin by 238.5% in the third 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 bought a new position in shares of Parker-Hannifin in the 2nd quarter valued at approximately $25,000. Harbor Investment Advisory LLC lifted its holdings in 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 purchasing an additional 20 shares during the last quarter. Northwest Investment Counselors LLC bought a new stake in Parker-Hannifin during the first quarter worth approximately $31,000. Finally, Fortitude Family Office LLC grew its holdings in Parker-Hannifin by 346.7% during the second quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 52 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors.

Insider Transactions at Parker-Hannifin

In related news, Director Joseph Scaminace sold 1,751 shares of the business’s stock in a transaction on 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 owns 3,900 shares of the company’s stock, valued at $2,299,947. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $592.92, for a total transaction of $503,982.00. Following the sale, the vice president now directly owns 3,350 shares of the company’s stock, valued at approximately $1,986,282. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Joseph Scaminace sold 1,751 shares of Parker-Hannifin stock in a transaction that occurred on 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 transaction, the director now owns 3,900 shares of the company’s stock, valued at $2,299,947. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

PH has been the subject of a number of analyst reports. Robert W. Baird boosted their price objective on shares of Parker-Hannifin from $622.00 to $654.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, October 12th. Raymond James raised their price target on Parker-Hannifin from $610.00 to $650.00 and gave the company an “outperform” rating in a research report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft boosted their price objective on Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, TD Cowen increased their target price on Parker-Hannifin from $500.00 to $520.00 and gave the company a “hold” rating in a research note on Wednesday, September 11th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $660.57.

Parker-Hannifin Stock Performance

Shares of NYSE PH opened at $640.44 on Friday. The firm has a market capitalization of $82.41 billion, a price-to-earnings ratio of 29.39, a PEG ratio of 2.61 and a beta of 1.43. Parker-Hannifin Co. has a one year low of $362.49 and a one year high of $646.60. The business has a fifty day simple moving average of $606.31 and a 200 day simple moving average of $559.95. 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 announced its quarterly earnings data on Thursday, August 8th. The industrial products company reported $6.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.22 by $0.55. Parker-Hannifin had a net margin of 14.27% and a return on equity of 29.08%. The company had revenue of $5.19 billion during the quarter, compared to analysts’ expectations of $5.08 billion. During the same quarter in the prior year, the company posted $6.08 EPS. The business’s revenue was up 1.8% on a year-over-year basis. Sell-side analysts expect that Parker-Hannifin Co. will post 26.64 EPS for the current year.

Parker-Hannifin Dividend Announcement

The business 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. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $6.52 annualized dividend and a dividend yield of 1.02%. Parker-Hannifin’s dividend payout ratio is currently 29.92%.

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.