Nicolet Advisory Services LLC Has $377,000 Holdings in Parker-Hannifin Co. (NYSE:PH)

Nicolet Advisory Services LLC increased its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 16.0% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 602 shares of the industrial products company’s stock after acquiring an additional 83 shares during the period. Nicolet Advisory Services LLC’s holdings in Parker-Hannifin were worth $377,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in PH. Nwam LLC acquired a new position in Parker-Hannifin in the 3rd quarter valued at $1,009,000. Meridian Wealth Management LLC acquired a new position in shares of Parker-Hannifin during the 3rd quarter worth about $1,501,000. Icon Wealth Advisors LLC boosted its stake in Parker-Hannifin by 205.2% during the 3rd quarter. Icon Wealth Advisors LLC now owns 995 shares of the industrial products company’s stock valued at $629,000 after purchasing an additional 669 shares during the period. CFS Investment Advisory Services LLC increased its position in Parker-Hannifin by 3.4% in the 3rd quarter. CFS Investment Advisory Services LLC now owns 583 shares of the industrial products company’s stock worth $368,000 after buying an additional 19 shares during the period. Finally, Raymond James Trust N.A. lifted its holdings in shares of Parker-Hannifin by 0.6% during the third quarter. Raymond James Trust N.A. now owns 6,096 shares of the industrial products company’s stock worth $3,852,000 after buying an additional 36 shares during the last quarter. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Stock Performance

Shares of NYSE:PH opened at $706.87 on Friday. 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 1-year low of $426.49 and a 1-year high of $711.60. The stock has a market capitalization of $90.99 billion, a P/E ratio of 31.93, a P/E/G ratio of 2.84 and a beta of 1.43. The business has a 50-day moving average price of $647.32 and a two-hundred day moving average price of $580.54.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, topping analysts’ consensus estimates of $6.14 by $0.06. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The business had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same period in the previous year, the firm posted $5.96 earnings per share. Parker-Hannifin’s revenue for the quarter was up 1.2% compared to the same quarter last year. Equities analysts predict that Parker-Hannifin Co. will post 26.77 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 8th will be paid a dividend of $1.63 per share. The ex-dividend date is Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 0.92%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 29.45%.

Analyst Ratings Changes

PH has been the subject of several research analyst reports. KeyCorp upped their target price on shares of Parker-Hannifin from $725.00 to $775.00 and gave the company an “overweight” rating in a research note on Thursday. Deutsche Bank Aktiengesellschaft boosted their price target on 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 lifted their price objective on Parker-Hannifin from $640.00 to $710.00 and gave the stock an “overweight” rating in a report on Monday, October 7th. Stifel Nicolaus cut shares of Parker-Hannifin from a “buy” rating to a “hold” rating and set a $691.00 price objective for the company. in a research note on Monday, November 18th. Finally, StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Three analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $691.40.

Insider Activity at Parker-Hannifin

In other news, VP Joseph R. Leonti sold 5,877 shares of the company’s stock in a transaction dated Friday, November 1st. The stock was sold at an average price of $631.04, for a total value of $3,708,622.08. Following the completion of the sale, the vice president now directly owns 15,350 shares of the company’s stock, valued at $9,686,464. This represents a 27.69 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO Andrew D. Ross sold 4,864 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $706.04, for a total transaction of $3,434,178.56. Following the transaction, the chief operating officer now directly owns 13,120 shares in the company, valued at $9,263,244.80. The trade was a 27.05 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,927 shares of company stock worth $12,807,811. 0.39% of the stock is owned by insiders.

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.