Avantax Advisory Services Inc. Has $1.24 Million Position in Parker-Hannifin Co. (NYSE:PH)

Avantax Advisory Services Inc. reduced its position in shares of Parker-Hannifin Co. (NYSE:PHFree Report) by 2.8% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,185 shares of the industrial products company’s stock after selling 92 shares during the quarter. Avantax Advisory Services Inc.’s holdings in Parker-Hannifin were worth $1,241,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. OFI Invest Asset Management bought a new position in shares of Parker-Hannifin in the third quarter valued at about $25,000. Baystate Wealth Management LLC raised its position in shares of Parker-Hannifin by 233.3% in the third quarter. Baystate Wealth Management LLC now owns 70 shares of the industrial products company’s stock valued at $27,000 after purchasing an additional 49 shares during the period. DHJJ Financial Advisors Ltd. bought a new position in shares of Parker-Hannifin in the third quarter valued at about $29,000. First Capital Advisors Group LLC. bought a new position in Parker-Hannifin during the second quarter worth about $30,000. Finally, Oakworth Capital Inc. raised its stake in Parker-Hannifin by 48.3% in the 3rd quarter. Oakworth Capital Inc. now owns 86 shares of the industrial products company’s stock worth $33,000 after purchasing an additional 28 shares in the last quarter. 82.25% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $462.00 to $506.00 in a research note on Thursday, November 9th. Stifel Nicolaus reiterated a “buy” rating and issued a $500.00 price objective on shares of Parker-Hannifin in a research note on Friday, January 19th. KeyCorp raised their target price on shares of Parker-Hannifin from $500.00 to $575.00 and gave the company an “overweight” rating in a report on Friday, February 2nd. The Goldman Sachs Group reissued a “buy” rating and issued a $551.00 target price on shares of Parker-Hannifin in a report on Tuesday, January 2nd. Finally, Wells Fargo & Company raised their target price on shares of Parker-Hannifin from $450.00 to $510.00 and gave the company an “overweight” rating in a report on Tuesday, December 19th. Three equities research analysts have rated the stock with a hold rating and ten have given a buy rating to the stock. According to data from MarketBeat, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and a consensus target price of $480.93.

Get Our Latest Research Report on PH

Parker-Hannifin Stock Up 0.5 %

Shares of NYSE PH opened at $514.21 on Thursday. The company has a market capitalization of $66.07 billion, a P/E ratio of 25.46, a price-to-earnings-growth ratio of 1.89 and a beta of 1.50. Parker-Hannifin Co. has a 52-week low of $300.86 and a 52-week high of $517.51. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.49 and a current ratio of 0.90. The company’s 50 day moving average price is $461.36 and its 200-day moving average price is $423.28.

Parker-Hannifin (NYSE:PHGet Free Report) last released its earnings results on Thursday, February 1st. The industrial products company reported $6.15 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $5.26 by $0.89. Parker-Hannifin had a net margin of 13.28% and a return on equity of 29.91%. The company had revenue of $4.82 billion for the quarter, compared to the consensus estimate of $4.82 billion. During the same quarter in the previous year, the company earned $4.76 EPS. Parker-Hannifin’s quarterly revenue was up 3.1% compared to the same quarter last year. Equities analysts forecast that Parker-Hannifin Co. will post 24.15 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, March 1st. Shareholders of record on Friday, February 9th will be issued a dividend of $1.48 per share. The ex-dividend date is Thursday, February 8th. This represents a $5.92 annualized dividend and a yield of 1.15%. Parker-Hannifin’s payout ratio is 29.31%.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,978 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the transaction, the vice president now owns 5,465 shares in the company, valued at $2,741,899.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Parker-Hannifin news, VP Thomas C. Gentile sold 2,978 shares of the company’s stock in a transaction on Friday, February 2nd. The shares were sold at an average price of $501.72, for a total transaction of $1,494,122.16. Following the transaction, the vice president now owns 5,465 shares in the company, valued at $2,741,899.80. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, COO Andrew D. Ross sold 3,904 shares of the company’s stock in a transaction on Friday, February 2nd. The stock was sold at an average price of $510.16, for a total transaction of $1,991,664.64. Following the completion of the sale, the chief operating officer now owns 13,120 shares of the company’s stock, valued at approximately $6,693,299.20. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 12,079 shares of company stock worth $6,099,566. Insiders own 1.03% of the company’s stock.

About Parker-Hannifin

(Free Report)

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.

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Institutional Ownership by Quarter for Parker-Hannifin (NYSE:PH)

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