Astoria Portfolio Advisors LLC. Acquires 20 Shares of Parker-Hannifin Co. (NYSE:PH)

Astoria Portfolio Advisors LLC. raised its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 1.9% during the fourth quarter, HoldingsChannel reports. The fund owned 1,090 shares of the industrial products company’s stock after purchasing an additional 20 shares during the quarter. Astoria Portfolio Advisors LLC.’s holdings in Parker-Hannifin were worth $706,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in PH. West Branch Capital LLC purchased a new stake in shares of Parker-Hannifin in the third quarter worth about $25,000. Bangor Savings Bank increased its holdings 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. Prestige Wealth Management Group LLC lifted its stake in Parker-Hannifin by 83.3% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 55 shares of the industrial products company’s stock worth $35,000 after purchasing an additional 25 shares in the last quarter. Bank of New Hampshire bought a new position in Parker-Hannifin in the 4th quarter valued at $35,000. Finally, Northwest Investment Counselors LLC purchased a new position in shares of Parker-Hannifin during the 3rd quarter valued at $39,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analysts Set New Price Targets

PH has been the subject of several research analyst reports. Argus lifted their price objective on Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Mizuho lifted their price target on Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a research report on Thursday, October 17th. Wells Fargo & Company decreased their price objective on shares of Parker-Hannifin from $770.00 to $710.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Stifel Nicolaus lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating and set a $691.00 target price for the company. in a research report on Monday, November 18th. Finally, Truist Financial increased their price target on shares of Parker-Hannifin from $788.00 to $842.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. 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, the stock currently has an average rating of “Moderate Buy” and an average target price of $722.94.

Parker-Hannifin Stock Up 1.8 %

PH opened at $670.75 on Friday. Parker-Hannifin Co. has a 12 month low of $458.09 and a 12 month high of $712.42. The company has a current ratio of 0.96, a quick ratio of 0.57 and a debt-to-equity ratio of 0.52. The business’s 50-day moving average price is $670.95 and its 200-day moving average price is $618.53. The company has a market cap of $86.34 billion, a P/E ratio of 30.30, a P/E/G ratio of 2.54 and a beta of 1.45.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, topping analysts’ consensus estimates of $6.14 by $0.06. The business had revenue of $4.90 billion for the quarter, compared to analysts’ expectations of $4.90 billion. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The business’s quarterly revenue was up 1.2% on a year-over-year basis. During the same period in the previous year, the firm earned $5.96 EPS. On average, equities analysts expect that Parker-Hannifin Co. will post 26.75 EPS for the current year.

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, December 6th. Shareholders of record on Friday, November 8th were given a dividend of $1.63 per share. The ex-dividend date was Friday, November 8th. This represents a $6.52 annualized dividend and a yield of 0.97%. Parker-Hannifin’s payout ratio is currently 29.45%.

Insiders Place Their Bets

In related 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 completion of the sale, the vice president now owns 5,465 shares of the company’s stock, valued at $3,831,839.40. This trade represents a 30.78 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO Andrew D. Ross sold 4,864 shares of Parker-Hannifin stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total transaction of $3,434,178.56. Following the completion of the sale, the chief operating officer now owns 13,120 shares in the company, valued at approximately $9,263,244.80. This trade represents a 27.05 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 18,077 shares of company stock valued at $12,303,829 in the last quarter. Insiders own 0.39% of the company’s stock.

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.