Collaborative Fund Advisors LLC grew its position in Parker-Hannifin Corporation (NYSE:PH – Free Report) by 170.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,300 shares of the industrial products company’s stock after buying an additional 820 shares during the period. Collaborative Fund Advisors LLC’s holdings in Parker-Hannifin were worth $1,242,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also made changes to their positions in the company. 3Chopt Investment Partners LLC increased its stake in Parker-Hannifin by 23.6% during the third quarter. 3Chopt Investment Partners LLC now owns 430 shares of the industrial products company’s stock worth $411,000 after acquiring an additional 82 shares during the last quarter. Team Financial Group LLC acquired a new stake in shares of Parker-Hannifin during the 3rd quarter worth about $28,000. Focused Wealth Management Inc acquired a new stake in shares of Parker-Hannifin during the 3rd quarter worth about $219,000. Rakuten Investment Management Inc. raised its holdings in Parker-Hannifin by 9.7% in the 3rd quarter. Rakuten Investment Management Inc. now owns 22,631 shares of the industrial products company’s stock valued at $21,960,000 after buying an additional 2,001 shares during the period. Finally, Provenance Wealth Advisors LLC lifted its position in Parker-Hannifin by 6,466.7% in the third quarter. Provenance Wealth Advisors LLC now owns 197 shares of the industrial products company’s stock valued at $188,000 after buying an additional 194 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.
Insider Transactions at Parker-Hannifin
In other Parker-Hannifin news, VP Berend Bracht sold 602 shares of the stock in a transaction that occurred on Wednesday, August 26th. The shares were sold at an average price of $1,040.47, for a total transaction of $626,362.94. Following the sale, the vice president directly owned 4,399 shares in the company, valued at $4,577,027.53. This represents a 12.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.35% of the stock is currently owned by company insiders.
Wall Street Analysts Forecast Growth
A number of brokerages have weighed in on PH. Mizuho set a $1,200.00 price target on shares of Parker-Hannifin in a research report on Thursday, October 15th. Truist Financial upped their price objective on shares of Parker-Hannifin from $1,269.00 to $1,358.00 and gave the stock a “buy” rating in a report on Friday, August 7th. TD Cowen increased their price objective on shares of Parker-Hannifin from $850.00 to $950.00 and gave the stock a “hold” rating in a research report on Wednesday, October 14th. Sanford C. Bernstein lifted their target price on shares of Parker-Hannifin from $1,037.00 to $1,218.00 and gave the company an “outperform” rating in a report on Friday, August 14th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on Parker-Hannifin from $998.00 to $1,023.00 and gave the company a “hold” rating in a research report on Wednesday, September 30th. Eighteen investment analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $1,146.35.
Check Out Our Latest Stock Report on Parker-Hannifin
Parker-Hannifin Stock Performance
NYSE PH opened at $910.09 on Thursday. The company has a debt-to-equity ratio of 0.44, a current ratio of 1.26 and a quick ratio of 0.74. The company has a market cap of $114.77 billion, a P/E ratio of 31.94, a P/E/G ratio of 2.63 and a beta of 1.15. The stock has a 50-day moving average of $951.20 and a two-hundred day moving average of $949.56. Parker-Hannifin Corporation has a 1-year low of $755.10 and a 1-year high of $1,099.94.
Parker-Hannifin (NYSE:PH – Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The industrial products company reported $9.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $8.31 by $0.96. The business had revenue of $5.75 billion for the quarter, compared to analysts’ expectations of $5.57 billion. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The business’s quarterly revenue was up 9.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $7.69 earnings per share. As a group, analysts anticipate that Parker-Hannifin Corporation will post 35.72 EPS for the current year.
Parker-Hannifin Dividend Announcement
The firm also recently announced a quarterly dividend, which will be paid on Friday, December 4th. Shareholders of record on Friday, November 13th will be issued a dividend of $2.00 per share. The ex-dividend date is Friday, November 13th. This represents a $8.00 dividend on an annualized basis and a yield of 0.9%. Parker-Hannifin’s dividend payout ratio is 28.08%.
Parker-Hannifin Profile
Parker-Hannifin Corporation is a diversified manufacturer of motion and control technologies and systems. The company serves aerospace, industrial, and other specialized markets with products designed to control the movement and flow of liquids and gases, as well as mechanical motion and power.
Its product portfolio includes hydraulic and pneumatic systems, filtration and process-control equipment, electromechanical technologies, sealing and shielding products, connectors, pumps, valves, and related components.
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