Ellsworth Advisors LLC Sells 46 Shares of Parker-Hannifin Co. (NYSE:PH)

Ellsworth Advisors LLC lessened its holdings in Parker-Hannifin Co. (NYSE:PH) by 2.9% during the third quarter, according to the company in its most recent disclosure with the SEC. The firm owned 1,550 shares of the industrial products company’s stock after selling 46 shares during the quarter. Ellsworth Advisors LLC’s holdings in Parker-Hannifin were worth $979,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Bleakley Financial Group LLC grew its position in Parker-Hannifin by 4.7% during the 3rd quarter. Bleakley Financial Group LLC now owns 2,699 shares of the industrial products company’s stock valued at $1,705,000 after purchasing an additional 120 shares during the last quarter. Buffington Mohr McNeal purchased a new stake in shares of Parker-Hannifin during the third quarter valued at approximately $3,015,000. Global Retirement Partners LLC raised its holdings in Parker-Hannifin by 25.9% in the 3rd quarter. Global Retirement Partners LLC now owns 1,377 shares of the industrial products company’s stock worth $870,000 after acquiring an additional 283 shares during the last quarter. Kowal Investment Group LLC lifted its position in Parker-Hannifin by 24.4% in the 3rd quarter. Kowal Investment Group LLC now owns 2,057 shares of the industrial products company’s stock valued at $1,300,000 after acquiring an additional 403 shares in the last quarter. Finally, Cornerstone Wealth Management LLC grew its stake in shares of Parker-Hannifin by 1.4% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 8,835 shares of the industrial products company’s stock valued at $5,582,000 after purchasing an additional 124 shares during the period. Institutional investors own 82.44% of the company’s stock.

Insider Buying and Selling

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 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Joseph Scaminace sold 1,751 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $589.73, for a total value 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. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, VP Berend Bracht sold 850 shares of Parker-Hannifin stock in a transaction on Monday, August 26th. The shares were sold at an average price of $592.92, for a total value of $503,982.00. Following the completion of the transaction, the vice president now owns 3,350 shares in the company, valued at $1,986,282. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.03% of the stock is currently owned by insiders.

Parker-Hannifin Trading Up 0.4 %

PH stock opened at $639.89 on Friday. The firm’s fifty day simple moving average is $604.89 and its two-hundred day simple moving average is $559.24. The stock has a market capitalization of $82.25 billion, a price-to-earnings ratio of 30.16, a price-to-earnings-growth ratio of 2.57 and a beta of 1.43. The company has a quick ratio of 0.55, a current ratio of 0.93 and a debt-to-equity ratio of 0.59. Parker-Hannifin Co. has a twelve month low of $362.49 and a twelve month high of $646.60.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, August 8th. The industrial products company reported $6.77 earnings per share for the quarter, topping 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 for the quarter, compared to analyst estimates of $5.08 billion. During the same period in the prior year, the company posted $6.08 EPS. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. As a group, analysts anticipate that Parker-Hannifin Co. will post 26.64 earnings per share for the current year.

Parker-Hannifin Announces Dividend

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

Wall Street Analyst Weigh In

PH has been the subject of a number of research reports. Evercore ISI upped their target price on shares of Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Wells Fargo & Company raised their target price on Parker-Hannifin from $640.00 to $710.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Barclays boosted their price target on Parker-Hannifin from $650.00 to $703.00 and gave the company an “overweight” rating in a report on Wednesday, October 2nd. StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Finally, TD Cowen lifted 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 equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and an average price target of $660.57.

Parker-Hannifin Company 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.