Birchcreek Wealth Management LLC Buys Shares of 352 Parker-Hannifin Co. (NYSE:PH)

Birchcreek Wealth Management LLC acquired a new stake in Parker-Hannifin Co. (NYSE:PH) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 352 shares of the industrial products company’s stock, valued at approximately $222,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Addison Advisors LLC acquired a new position in shares of Parker-Hannifin in the second quarter valued at approximately $25,000. West Branch Capital LLC bought a new stake in shares of Parker-Hannifin in the 3rd quarter valued at approximately $25,000. Bangor Savings Bank boosted 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 during the period. Fortitude Family Office LLC raised its stake in shares of 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 buying an additional 52 shares in the last quarter. Finally, Crewe Advisors LLC purchased a new stake in shares of Parker-Hannifin during the first quarter valued at $38,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on PH shares. Robert W. Baird upped their target price on Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a research report on Friday, November 1st. Evercore ISI lifted their price objective on Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th. Wells Fargo & Company boosted their price target on Parker-Hannifin from $640.00 to $710.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Raymond James upped their target price on Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Finally, Mizuho increased their price target on Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a research report on Thursday, October 17th. Two investment analysts have rated the stock with a hold rating and fifteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and an average target price of $688.07.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,430 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $701.16, for a total value of $1,703,818.80. Following the sale, the vice president now directly owns 5,465 shares in the company, valued at approximately $3,831,839.40. This trade represents a 30.78 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Berend Bracht sold 850 shares of Parker-Hannifin stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $592.92, for a total value of $503,982.00. Following the transaction, the vice president now directly owns 3,350 shares in the company, valued at approximately $1,986,282. The trade was a 20.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 18,927 shares of company stock worth $12,807,811. 0.39% of the stock is currently owned by insiders.

Parker-Hannifin Trading Up 0.5 %

NYSE:PH traded up $3.34 during mid-day trading on Friday, hitting $700.97. 8,502 shares of the stock traded hands, compared to its average volume of 643,038. The stock has a market capitalization of $90.23 billion, a price-to-earnings ratio of 31.51, a PEG ratio of 2.85 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 52 week low of $425.20 and a 52 week high of $711.60. The firm’s 50 day moving average is $631.19 and its two-hundred day moving average is $573.08.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $4.90 billion. During the same quarter in the prior year, the business posted $5.96 EPS. Parker-Hannifin’s revenue for the quarter was up 1.2% compared to the same quarter last year. On average, equities research analysts predict that Parker-Hannifin Co. will post 26.77 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 0.93%. The ex-dividend date is Friday, November 8th. Parker-Hannifin’s payout ratio is 29.45%.

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.