Dakota Wealth Management Acquires 70 Shares of Parker-Hannifin Co. (NYSE:PH)

Dakota Wealth Management raised its holdings in Parker-Hannifin Co. (NYSE:PH) by 6.9% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 1,088 shares of the industrial products company’s stock after buying an additional 70 shares during the quarter. Dakota Wealth Management’s holdings in Parker-Hannifin were worth $687,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in PH. TD Asset Management Inc lifted its stake in shares of Parker-Hannifin by 152.1% in the 1st quarter. TD Asset Management Inc now owns 132,231 shares of the industrial products company’s stock valued at $73,493,000 after purchasing an additional 79,774 shares during the period. Daiwa Securities Group Inc. lifted its stake in shares of Parker-Hannifin by 8.5% in the 1st quarter. Daiwa Securities Group Inc. now owns 22,960 shares of the industrial products company’s stock valued at $12,761,000 after purchasing an additional 1,802 shares during the period. Concurrent Investment Advisors LLC lifted its stake in shares of Parker-Hannifin by 261.4% in the 1st quarter. Concurrent Investment Advisors LLC now owns 2,515 shares of the industrial products company’s stock valued at $1,397,000 after purchasing an additional 1,819 shares during the period. Oppenheimer Asset Management Inc. lifted its stake in shares of Parker-Hannifin by 54.1% in the 1st quarter. Oppenheimer Asset Management Inc. now owns 17,165 shares of the industrial products company’s stock valued at $9,540,000 after purchasing an additional 6,029 shares during the period. Finally, Janney Montgomery Scott LLC lifted its stake in shares of Parker-Hannifin by 16.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 42,523 shares of the industrial products company’s stock valued at $23,634,000 after purchasing an additional 6,013 shares during the period. 82.44% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, VP Berend Bracht sold 850 shares of Parker-Hannifin stock in a transaction on Monday, August 26th. The stock was sold at an average price of $592.92, for a total value of $503,982.00. Following the completion of the sale, the vice president now owns 3,350 shares of the company’s stock, valued at $1,986,282. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the completion of the sale, the director now owns 3,900 shares of the company’s stock, valued at approximately $2,299,947. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, VP Berend Bracht sold 850 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $592.92, for a total value 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. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.39% of the stock is currently owned by corporate insiders.

Parker-Hannifin Stock Down 0.4 %

PH stock opened at $621.74 on Monday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.93 and a quick ratio of 0.55. Parker-Hannifin Co. has a 1-year low of $362.49 and a 1-year high of $646.60. The stock has a market capitalization of $80.00 billion, a P/E ratio of 28.53, a P/E/G ratio of 2.55 and a beta of 1.43. The business has a fifty day moving average price of $611.33 and a 200-day moving average price of $562.35.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, August 8th. The industrial products company reported $6.77 EPS for the quarter, topping the consensus estimate of $6.22 by $0.55. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. The company had revenue of $5.19 billion during the quarter, compared to analyst estimates of $5.08 billion. During the same quarter in the previous year, the company posted $6.08 earnings per share. Parker-Hannifin’s revenue was up 1.8% compared to the same quarter last year. Equities analysts forecast that Parker-Hannifin Co. will post 26.68 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 8th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.05%. The ex-dividend date is Friday, November 8th. Parker-Hannifin’s payout ratio is currently 29.92%.

Analyst Ratings Changes

A number of research analysts have recently commented on the company. Mizuho raised their target price on Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Evercore ISI lifted their price objective on Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Wells Fargo & Company lifted their price objective on Parker-Hannifin from $640.00 to $710.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, Parker-Hannifin presently has an average rating of “Moderate Buy” and a consensus target price of $660.57.

Parker-Hannifin Company 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.