Claro Advisors LLC Acquires 4,635 Shares of Parker-Hannifin Co. (NYSE:PH)

Claro Advisors LLC raised its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 1,009.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,094 shares of the industrial products company’s stock after acquiring an additional 4,635 shares during the quarter. Claro Advisors LLC’s holdings in Parker-Hannifin were worth $3,218,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. Centaurus Financial Inc. bought a new stake in shares of Parker-Hannifin in the fourth quarter worth about $128,000. B. Riley Wealth Advisors Inc. grew its position in Parker-Hannifin by 3.4% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 2,466 shares of the industrial products company’s stock worth $1,136,000 after acquiring an additional 80 shares in the last quarter. Rise Advisors LLC purchased a new position in Parker-Hannifin in the first quarter worth about $38,000. Banque Cantonale Vaudoise grew its position in Parker-Hannifin by 89.7% in the first quarter. Banque Cantonale Vaudoise now owns 772 shares of the industrial products company’s stock worth $429,000 after acquiring an additional 365 shares in the last quarter. Finally, Wedmont Private Capital grew its position in Parker-Hannifin by 2.7% in the first quarter. Wedmont Private Capital now owns 2,053 shares of the industrial products company’s stock worth $1,152,000 after acquiring an additional 54 shares in the last quarter. 82.44% of the stock is owned by institutional investors.

Insider Activity

In other news, VP Berend Bracht sold 850 shares of the business’s stock in a transaction on 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 $1,986,282. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Berend Bracht sold 850 shares of the 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 $1,986,282. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Joseph Scaminace sold 1,751 shares of the stock in a transaction dated 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 sale, the director now directly owns 3,900 shares in the company, valued at approximately $2,299,947. The trade was 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 Trading Down 0.4 %

Shares of Parker-Hannifin stock traded down $2.72 on Friday, hitting $637.12. 89,486 shares of the company traded hands, compared to its average volume of 635,718. The stock’s 50 day moving average price is $604.89 and its 200-day moving average price is $559.24. 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 Co. has a 52 week low of $362.49 and a 52 week high of $646.60. The company has a market cap of $81.90 billion, a PE ratio of 30.16, a PEG ratio of 2.57 and a beta of 1.43.

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

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Wednesday, August 28th were issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend was Wednesday, August 28th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 30.73%.

Wall Street Analysts Forecast Growth

PH has been the subject of several recent research reports. Truist Financial lifted their price target on Parker-Hannifin from $673.00 to $788.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Robert W. Baird lifted their price target on Parker-Hannifin from $622.00 to $654.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. KeyCorp lifted their price target on Parker-Hannifin from $640.00 to $725.00 and gave the stock an “overweight” rating in a research report on Monday. Raymond James boosted their target price on Parker-Hannifin from $610.00 to $650.00 and gave the company an “outperform” rating in a research report on Wednesday, September 4th. Finally, TD Cowen boosted their target price on Parker-Hannifin from $500.00 to $520.00 and gave the company a “hold” rating in a research report on Wednesday, September 11th. Two investment 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.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $660.57.

Parker-Hannifin 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.