Catalyst Financial Partners LLC Takes Position in Parker-Hannifin Co. (NYSE:PH)

Catalyst Financial Partners LLC bought a new position in shares of Parker-Hannifin Co. (NYSE:PH) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 389 shares of the industrial products company’s stock, valued at approximately $246,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PH. West Branch Capital LLC bought a new position in Parker-Hannifin in the 3rd quarter valued at $25,000. Bangor Savings Bank grew its position in Parker-Hannifin by 238.5% during the third quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock valued at $28,000 after buying an additional 31 shares during the period. Addison Advisors LLC purchased a new stake in Parker-Hannifin during the second quarter worth about $25,000. Northwest Investment Counselors LLC bought a new stake in Parker-Hannifin in the third quarter worth about $39,000. Finally, Fortitude Family Office LLC boosted its stake in Parker-Hannifin by 346.7% in the second quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 52 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Insiders Place Their Bets

In related news, VP Berend Bracht sold 850 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $592.92, for a total transaction of $503,982.00. Following 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Berend Bracht sold 850 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $592.92, for a total transaction 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 trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 sale, 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 disclosure for this sale can be found here. Insiders own 0.39% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on PH shares. Wells Fargo & Company raised their price target on shares of Parker-Hannifin from $640.00 to $710.00 and gave the stock an “overweight” rating in a research note on Monday, October 7th. Stifel Nicolaus raised their target price on Parker-Hannifin from $633.00 to $691.00 and gave the stock a “buy” rating in a research report on Wednesday, October 2nd. Truist Financial upped their price target on Parker-Hannifin from $673.00 to $788.00 and gave the company a “buy” rating in a research report on Wednesday, October 9th. TD Cowen boosted their price objective on Parker-Hannifin from $500.00 to $520.00 and gave the company a “hold” rating in a research note on Wednesday, September 11th. Finally, Evercore ISI increased their target price on shares of Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $660.57.

Parker-Hannifin Stock Up 1.6 %

PH opened at $634.46 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.93 and a quick ratio of 0.55. Parker-Hannifin Co. has a one year low of $362.49 and a one year high of $646.60. The firm has a market capitalization of $81.64 billion, a P/E ratio of 29.12, a price-to-earnings-growth ratio of 2.53 and a beta of 1.43. The company has a fifty day moving average price of $614.64 and a 200-day moving average price of $564.27.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.14 by $0.06. Parker-Hannifin had a net margin of 14.27% and a return on equity of 29.08%. The company 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 EPS. The firm’s revenue was up 1.2% compared to the same quarter last year. Equities research analysts expect that Parker-Hannifin Co. will post 26.68 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 8th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend is Friday, November 8th. Parker-Hannifin’s payout ratio is currently 29.92%.

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.