Marks Group Wealth Management Inc Decreases Holdings in Parker-Hannifin Co. (NYSE:PH)

Marks Group Wealth Management Inc lowered its stake in Parker-Hannifin Co. (NYSE:PH) by 0.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 15,788 shares of the industrial products company’s stock after selling 103 shares during the period. Parker-Hannifin makes up approximately 1.0% of Marks Group Wealth Management Inc’s investment portfolio, making the stock its 16th biggest position. Marks Group Wealth Management Inc’s holdings in Parker-Hannifin were worth $9,975,000 as of its most recent SEC filing.

Several other large investors also recently added to or reduced their stakes in PH. Addison Advisors LLC purchased a new stake in shares of Parker-Hannifin in the second quarter valued at $25,000. West Branch Capital LLC purchased a new stake in Parker-Hannifin in the 3rd quarter worth about $25,000. Bangor Savings Bank lifted its stake in Parker-Hannifin by 238.5% in the third quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock worth $28,000 after purchasing an additional 31 shares during the last quarter. Fortitude Family Office LLC boosted its position in shares of Parker-Hannifin by 346.7% during the second quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company’s stock valued at $34,000 after buying an additional 52 shares during the period. Finally, Crewe Advisors LLC bought a new position in shares of Parker-Hannifin during the first quarter valued at approximately $38,000. 82.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

PH has been the subject of a number of research analyst reports. KeyCorp raised their price target on Parker-Hannifin from $640.00 to $725.00 and gave the stock an “overweight” rating in a research note on Monday, October 14th. Truist Financial lifted their target price 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 upped their price target on shares of Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a report on Friday, November 1st. Wells Fargo & Company lifted their price objective on shares of Parker-Hannifin from $640.00 to $710.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Finally, Barclays upped their target price on shares of Parker-Hannifin from $650.00 to $703.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 2nd. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $673.14.

Parker-Hannifin Trading Up 2.4 %

Shares of NYSE:PH opened at $653.57 on Wednesday. The company has a market capitalization of $84.09 billion, a PE ratio of 29.52, a P/E/G ratio of 2.56 and a beta of 1.43. 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 12-month low of $399.19 and a 12-month high of $653.97. The business’s fifty day simple moving average is $617.66 and its 200-day simple moving average is $566.76.

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

Parker-Hannifin Announces Dividend

The company 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 of this dividend is Friday, November 8th. This represents a $6.52 annualized dividend and a dividend yield of 1.00%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 29.45%.

Insider Activity at Parker-Hannifin

In related news, VP Joseph R. Leonti sold 5,877 shares of the business’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $631.04, for a total transaction of $3,708,622.08. Following the transaction, the vice president now directly owns 15,350 shares in the company, valued at $9,686,464. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of the firm’s 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 of the company’s stock, valued at approximately $1,986,282. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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 transaction of $3,708,622.08. Following the sale, the vice president now owns 15,350 shares of the company’s stock, 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. Insiders sold 8,478 shares of company stock valued at $5,245,221 over the last 90 days. Insiders own 0.39% of the company’s stock.

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.