Financial Security Advisor Inc. Grows Position in Parker-Hannifin Co. (NYSE:PH)

Financial Security Advisor Inc. increased its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 0.9% in the third quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 3,196 shares of the industrial products company’s stock after purchasing an additional 30 shares during the quarter. Parker-Hannifin accounts for about 0.5% of Financial Security Advisor Inc.’s investment portfolio, making the stock its 29th largest holding. Financial Security Advisor Inc.’s holdings in Parker-Hannifin were worth $2,019,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Addison Advisors LLC purchased a new stake in Parker-Hannifin during the 2nd quarter worth $25,000. West Branch Capital LLC purchased a new stake in shares of Parker-Hannifin during the 3rd quarter valued at about $25,000. Bangor Savings Bank lifted its position in Parker-Hannifin by 238.5% during the 3rd quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock worth $28,000 after acquiring an additional 31 shares in the last quarter. Fortitude Family Office LLC boosted its holdings in Parker-Hannifin by 346.7% in the 2nd quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 52 shares during the period. Finally, Crewe Advisors LLC acquired a new stake in Parker-Hannifin in the first quarter valued at approximately $38,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Insider Buying and Selling at Parker-Hannifin

In other news, Director Joseph Scaminace sold 1,751 shares of Parker-Hannifin 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 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other news, Director Joseph Scaminace sold 1,751 shares of the stock in a transaction on 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 completion of the sale, the director now owns 3,900 shares in the company, valued at approximately $2,299,947. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Joseph R. Leonti sold 5,877 shares of Parker-Hannifin stock in a transaction on 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 transaction, the vice president now owns 15,350 shares in the company, valued at $9,686,464. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 8,478 shares of company stock valued at $5,245,221. 0.39% of the stock is owned by corporate insiders.

Parker-Hannifin Stock Up 2.4 %

PH stock opened at $653.57 on Wednesday. The firm’s 50-day simple moving average is $617.66 and its 200 day simple moving average is $566.76. The stock has a market cap of $84.09 billion, a PE ratio of 29.52, a price-to-earnings-growth ratio of 2.56 and a beta of 1.43. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. Parker-Hannifin Co. has a fifty-two week low of $399.19 and a fifty-two week high of $653.97.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, beating analysts’ consensus estimates of $6.14 by $0.06. The company had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.90 billion. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The company’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period last year, the company earned $5.96 earnings per share. As a group, sell-side analysts predict that Parker-Hannifin Co. will post 26.84 EPS for the current year.

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 8th will be given a $1.63 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a yield of 1.00%. Parker-Hannifin’s dividend payout ratio (DPR) is 29.45%.

Analyst Ratings Changes

PH has been the subject of several analyst reports. StockNews.com upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Argus lifted their target price on Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research report on Tuesday. Evercore ISI raised their price objective on Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. KeyCorp upped their target price on Parker-Hannifin from $640.00 to $725.00 and gave the company an “overweight” rating in a research report on Monday, October 14th. Finally, Stifel Nicolaus lifted their price target on shares of Parker-Hannifin from $633.00 to $691.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $673.14.

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.