AdvisorShares Investments LLC Increases Holdings in Parker-Hannifin Corporation $PH

AdvisorShares Investments LLC increased its stake in Parker-Hannifin Corporation (NYSE:PH) by 2,028.6% during the third quarter, Holdings Channel.com reports. The institutional investor owned 745 shares of the industrial products company’s stock after buying an additional 710 shares during the period. AdvisorShares Investments LLC’s holdings in Parker-Hannifin were worth $565,000 as of its most recent filing with the SEC.

Several other institutional investors also recently added to or reduced their stakes in PH. Chilton Capital Management LLC bought a new position in shares of Parker-Hannifin during the 3rd quarter valued at approximately $29,000. Interchange Capital Partners LLC purchased a new position in Parker-Hannifin in the second quarter valued at approximately $31,000. Valley Wealth Managers Inc. bought a new position in Parker-Hannifin during the third quarter valued at $36,000. State of Wyoming bought a new position in Parker-Hannifin during the second quarter valued at $38,000. Finally, Princeton Global Asset Management LLC increased its position in Parker-Hannifin by 56.1% in the second quarter. Princeton Global Asset Management LLC now owns 64 shares of the industrial products company’s stock worth $45,000 after buying an additional 23 shares during the last quarter. Institutional investors own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. The Goldman Sachs Group reaffirmed a “buy” rating on shares of Parker-Hannifin in a research report on Thursday, January 29th. Argus restated a “buy” rating and issued a $900.00 price objective on shares of Parker-Hannifin in a research note on Monday, November 10th. JPMorgan Chase & Co. upped their price objective on shares of Parker-Hannifin from $1,083.00 to $1,100.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Truist Financial set a $1,139.00 target price on shares of Parker-Hannifin in a research report on Friday, January 30th. Finally, iA Financial set a $1,032.00 price target on shares of Parker-Hannifin in a research report on Thursday, January 29th. Seventeen analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $990.47.

Insiders Place Their Bets

In other news, VP Rachid Bendali sold 1,437 shares of the business’s stock in a transaction dated Wednesday, November 12th. The stock was sold at an average price of $852.99, for a total transaction of $1,225,746.63. Following the completion of the transaction, the vice president owned 2,714 shares of the company’s stock, valued at approximately $2,315,014.86. The trade was a 34.62% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Andrew D. Ross sold 2,488 shares of the firm’s stock in a transaction that occurred on Thursday, December 11th. The shares were sold at an average price of $894.81, for a total transaction of $2,226,287.28. Following the completion of the sale, the chief operating officer directly owned 13,120 shares in the company, valued at $11,739,907.20. This represents a 15.94% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 10,769 shares of company stock worth $9,649,169. 0.32% of the stock is owned by corporate insiders.

Parker-Hannifin Stock Performance

Parker-Hannifin stock opened at $977.70 on Friday. Parker-Hannifin Corporation has a 1-year low of $488.45 and a 1-year high of $989.13. The company has a current ratio of 1.18, a quick ratio of 0.66 and a debt-to-equity ratio of 0.52. The firm has a market capitalization of $123.41 billion, a PE ratio of 35.66, a price-to-earnings-growth ratio of 3.33 and a beta of 1.25. The firm’s 50 day simple moving average is $908.41 and its 200 day simple moving average is $815.62.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, January 29th. The industrial products company reported $7.65 EPS for the quarter, beating analysts’ consensus estimates of $7.11 by $0.54. The firm had revenue of $5.17 billion during the quarter, compared to analyst estimates of $5.07 billion. Parker-Hannifin had a net margin of 17.29% and a return on equity of 27.56%. The business’s revenue for the quarter was up 9.1% on a year-over-year basis. During the same period in the previous year, the business earned $6.53 EPS. As a group, analysts expect that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

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

Parker-Hannifin 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.