NewEdge Wealth LLC Sells 531 Shares of Parker-Hannifin Corporation $PH

NewEdge Wealth LLC lessened its stake in shares of Parker-Hannifin Corporation (NYSE:PH) by 4.5% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 11,338 shares of the industrial products company’s stock after selling 531 shares during the period. NewEdge Wealth LLC’s holdings in Parker-Hannifin were worth $8,777,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Berkshire Asset Management LLC PA increased its holdings in shares of Parker-Hannifin by 1.1% during the third quarter. Berkshire Asset Management LLC PA now owns 1,208 shares of the industrial products company’s stock valued at $916,000 after acquiring an additional 13 shares in the last quarter. Fidelis Capital Partners LLC boosted its stake in Parker-Hannifin by 1.3% in the 2nd quarter. Fidelis Capital Partners LLC now owns 1,071 shares of the industrial products company’s stock worth $747,000 after purchasing an additional 14 shares in the last quarter. High Net Worth Advisory Group LLC grew its position in Parker-Hannifin by 0.3% during the 3rd quarter. High Net Worth Advisory Group LLC now owns 4,694 shares of the industrial products company’s stock valued at $3,559,000 after purchasing an additional 14 shares during the last quarter. Valeo Financial Advisors LLC increased its stake in Parker-Hannifin by 0.8% during the 2nd quarter. Valeo Financial Advisors LLC now owns 1,833 shares of the industrial products company’s stock valued at $1,280,000 after purchasing an additional 15 shares in the last quarter. Finally, Sivia Capital Partners LLC raised its holdings in Parker-Hannifin by 3.6% in the second quarter. Sivia Capital Partners LLC now owns 430 shares of the industrial products company’s stock worth $300,000 after buying an additional 15 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the stock. Wells Fargo & Company raised their price target on shares of Parker-Hannifin from $1,000.00 to $1,050.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. iA Financial set a $1,032.00 target price on Parker-Hannifin in a report on Thursday, January 29th. Weiss Ratings restated a “buy (b)” rating on shares of Parker-Hannifin in a research note on Thursday, January 22nd. BNP Paribas Exane assumed coverage on Parker-Hannifin in a research report on Thursday, December 4th. They set an “outperform” rating and a $1,020.00 price objective on the stock. Finally, Barclays lifted their price objective on Parker-Hannifin from $990.00 to $1,020.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Seventeen investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $990.47.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, CFO Todd M. Leombruno sold 2,062 shares of the company’s stock in a transaction dated Wednesday, February 11th. The stock was sold at an average price of $1,002.34, for a total value of $2,066,825.08. Following the completion of the sale, the chief financial officer owned 20,610 shares in the company, valued at $20,658,227.40. This represents a 9.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Andrew D. Ross sold 4,664 shares of Parker-Hannifin stock in a transaction dated Wednesday, February 11th. The shares were sold at an average price of $999.00, for a total value of $4,659,336.00. Following the transaction, the chief operating officer directly owned 13,120 shares in the company, valued at approximately $13,106,880. The trade was a 26.23% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 12,551 shares of company stock worth $12,117,502 over the last three months. 0.32% of the stock is currently owned by insiders.

Parker-Hannifin Trading Up 1.5%

Parker-Hannifin stock opened at $1,012.08 on Friday. Parker-Hannifin Corporation has a 52-week low of $488.45 and a 52-week high of $1,015.00. The company has a market cap of $127.74 billion, a P/E ratio of 36.91, a P/E/G ratio of 3.21 and a beta of 1.25. The company has a quick ratio of 0.66, a current ratio of 1.18 and a debt-to-equity ratio of 0.52. The business has a 50-day simple moving average of $930.45 and a two-hundred day simple moving average of $831.64.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, January 29th. The industrial products company reported $7.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $7.11 by $0.54. The company had revenue of $5.17 billion for the quarter, compared to the consensus estimate of $5.07 billion. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. The firm’s revenue was up 9.1% compared to the same quarter last year. During the same quarter last year, the firm posted $6.53 earnings per share. Analysts predict that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 6th. Stockholders of record on Friday, February 6th will be given a dividend of $1.80 per share. The ex-dividend date of this dividend is Friday, February 6th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 0.7%. Parker-Hannifin’s payout ratio is presently 26.26%.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation (NYSE: PH) is a global manufacturer and provider of motion and control technologies and systems. The company designs, manufactures and services a broad range of engineered components and systems used to control the movement and flow of liquids, gases and hydraulic power. Its product portfolio is applied across demanding environments and includes solutions for industrial manufacturing, aerospace, mobile equipment and other engineered applications.

Parker-Hannifin’s product and service offerings span hydraulic and pneumatic components, fittings and fluid connectors, valves, pumps and motors, electromechanical actuators and motion-control systems, filtration and separation products, and seals and sealing systems.