Successful Portfolios LLC Acquires Shares of 1,181 Parker-Hannifin Corp (NYSE:PH)

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Successful Portfolios LLC acquired a new stake in shares of Parker-Hannifin Corp (NYSE:PH) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 1,181 shares of the industrial products company’s stock, valued at approximately $213,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. First Manhattan Co. lifted its stake in shares of Parker-Hannifin by 12.2% in the 2nd quarter. First Manhattan Co. now owns 590 shares of the industrial products company’s stock valued at $100,000 after purchasing an additional 64 shares during the period. Bronfman E.L. Rothschild L.P. lifted its stake in shares of Parker-Hannifin by 4.4% in the 2nd quarter. Bronfman E.L. Rothschild L.P. now owns 1,542 shares of the industrial products company’s stock valued at $262,000 after purchasing an additional 65 shares during the period. Bbva USA Bancshares Inc. lifted its stake in shares of Parker-Hannifin by 0.3% in the 2nd quarter. Bbva USA Bancshares Inc. now owns 30,998 shares of the industrial products company’s stock valued at $5,270,000 after purchasing an additional 87 shares during the period. Private Capital Group LLC lifted its stake in shares of Parker-Hannifin by 126.3% in the 2nd quarter. Private Capital Group LLC now owns 172 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 96 shares during the period. Finally, Belpointe Asset Management LLC lifted its stake in shares of Parker-Hannifin by 1.5% in the 1st quarter. Belpointe Asset Management LLC now owns 6,850 shares of the industrial products company’s stock valued at $1,176,000 after purchasing an additional 100 shares during the period. Institutional investors and hedge funds own 80.64% of the company’s stock.

In related news, VP Andrew M. Weeks sold 1,732 shares of the business’s stock in a transaction on Tuesday, September 10th. The shares were sold at an average price of $180.64, for a total value of $312,868.48. Following the completion of the sale, the vice president now owns 15,257 shares of the company’s stock, valued at approximately $2,756,024.48. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Linda S. Harty purchased 3,000 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was bought at an average cost of $158.39 per share, with a total value of $475,170.00. Following the acquisition, the director now owns 13,243 shares in the company, valued at approximately $2,097,558.77. The disclosure for this purchase can be found here. In the last three months, insiders sold 59,234 shares of company stock valued at $10,722,479. 1.23% of the stock is owned by insiders.

PH has been the subject of several analyst reports. JPMorgan Chase & Co. cut shares of Parker-Hannifin from an “overweight” rating to a “neutral” rating and decreased their target price for the company from $186.00 to $169.00 in a research note on Wednesday, July 10th. Morgan Stanley boosted their target price on shares of Parker-Hannifin from $173.00 to $177.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Zacks Investment Research cut shares of Parker-Hannifin from a “hold” rating to a “sell” rating and set a $180.00 target price for the company. in a research note on Wednesday, July 17th. Stifel Nicolaus decreased their target price on shares of Parker-Hannifin from $176.00 to $174.00 and set a “hold” rating for the company in a research note on Monday. Finally, Wells Fargo & Co cut shares of Parker-Hannifin from an “outperform” rating to a “market perform” rating and set a $175.00 target price for the company. in a research note on Wednesday, July 10th. Four analysts have rated the stock with a sell rating, eight have issued a hold rating and two have issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average target price of $175.60.

NYSE PH traded up $8.91 on Friday, hitting $179.66. The company had a trading volume of 1,046,909 shares, compared to its average volume of 809,551. The company has a market capitalization of $21.41 billion, a PE ratio of 15.16, a PEG ratio of 1.54 and a beta of 1.57. The company’s fifty day moving average price is $172.27 and its 200-day moving average price is $171.07. The company has a debt-to-equity ratio of 1.09, a current ratio of 2.43 and a quick ratio of 1.90. Parker-Hannifin Corp has a 12-month low of $140.82 and a 12-month high of $190.97.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, August 1st. The industrial products company reported $3.31 EPS for the quarter, topping the consensus estimate of $3.09 by $0.22. The company had revenue of $3.68 billion during the quarter, compared to analyst estimates of $3.69 billion. Parker-Hannifin had a net margin of 10.56% and a return on equity of 26.11%. The firm’s revenue was down 3.6% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.22 EPS. On average, sell-side analysts anticipate that Parker-Hannifin Corp will post 11.87 EPS for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Wednesday, August 28th were issued a $0.88 dividend. This represents a $3.52 annualized dividend and a yield of 1.96%. The ex-dividend date of this dividend was Tuesday, August 27th. Parker-Hannifin’s payout ratio is presently 29.70%.

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 in two segments, Diversified Industrial and Aerospace Systems. The Diversified Industrial segment provides static and dynamic sealing devices; filters, systems, and diagnostics solutions to monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; hydraulic, pneumatic, and electromechanical components and systems for builders and users of industrial and mobile machinery and equipment; and critical flow components for process instrumentation, healthcare, and ultra-high-purity applications, as well as components for use in refrigeration and air conditioning systems, and in fluid control applications for processing, fuel dispensing, beverage dispensing, and mobile emissions.

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Institutional Ownership by Quarter for Parker-Hannifin (NYSE:PH)

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