Claro Advisors LLC Raises Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Claro Advisors LLC boosted its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 62.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 746 shares of the industrial products company’s stock after purchasing an additional 287 shares during the quarter. Claro Advisors LLC’s holdings in Parker-Hannifin were worth $471,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in PH. Tower Bridge Advisors raised its stake in shares of Parker-Hannifin by 3.9% in the 3rd quarter. Tower Bridge Advisors now owns 9,303 shares of the industrial products company’s stock valued at $5,878,000 after purchasing an additional 347 shares in the last quarter. Adero Partners LLC bought a new stake in Parker-Hannifin in the third quarter valued at about $224,000. Atlanta Consulting Group Advisors LLC acquired a new stake in Parker-Hannifin during the third quarter valued at approximately $306,000. Beaton Management Co. Inc. acquired a new position in shares of Parker-Hannifin in the 3rd quarter worth approximately $222,000. Finally, Turtle Creek Wealth Advisors LLC increased its holdings in shares of Parker-Hannifin by 1.8% in the 3rd quarter. Turtle Creek Wealth Advisors LLC now owns 10,201 shares of the industrial products company’s stock valued at $6,445,000 after acquiring an additional 183 shares during the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts recently issued reports on PH shares. Robert W. Baird raised their price objective on Parker-Hannifin from $695.00 to $710.00 and gave the stock an “outperform” rating in a research note on Friday, November 1st. Argus boosted their price objective on shares of Parker-Hannifin from $650.00 to $710.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Truist Financial raised their target price on shares of Parker-Hannifin from $673.00 to $788.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. TD Cowen increased their price target on Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a research report on Tuesday, November 12th. Finally, Barclays boosted their price objective on Parker-Hannifin from $650.00 to $703.00 and gave the company an “overweight” rating in a research report on Wednesday, October 2nd. Three equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $688.07.

Parker-Hannifin Stock Down 1.0 %

PH stock opened at $691.68 on Tuesday. The firm’s 50-day moving average is $638.42 and its two-hundred day moving average is $576.52. 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 company has a market capitalization of $89.03 billion, a price-to-earnings ratio of 31.24, a price-to-earnings-growth ratio of 2.82 and a beta of 1.43. Parker-Hannifin Co. has a 52 week low of $426.49 and a 52 week high of $711.60.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, October 31st. The industrial products company reported $6.20 earnings per share for the quarter, topping analysts’ consensus estimates of $6.14 by $0.06. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The firm had revenue of $4.90 billion during the quarter, compared to the consensus estimate of $4.90 billion. During the same period in the prior year, the firm posted $5.96 earnings per share. The firm’s revenue for the quarter was up 1.2% compared to the same quarter last year. On average, analysts forecast that Parker-Hannifin Co. will post 26.77 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 8th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 0.94%. The ex-dividend date of this dividend is Friday, November 8th. Parker-Hannifin’s payout ratio is currently 29.45%.

Insiders Place Their Bets

In other news, VP Berend Bracht sold 850 shares of the business’s stock in a transaction 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 sale, the vice president now directly owns 3,350 shares of the company’s stock, valued at $1,986,282. The trade was a 20.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Andrew D. Ross sold 4,864 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total value of $3,434,178.56. Following the sale, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at approximately $9,263,244.80. This represents a 27.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,927 shares of company stock worth $12,807,811. 0.39% of the stock is owned by corporate insiders.

About Parker-Hannifin

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.