KCM Investment Advisors LLC Purchases 163 Shares of Parker-Hannifin Co. (NYSE:PH)

KCM Investment Advisors LLC grew its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 6.6% during the third quarter, HoldingsChannel reports. The institutional investor owned 2,617 shares of the industrial products company’s stock after buying an additional 163 shares during the period. KCM Investment Advisors LLC’s holdings in Parker-Hannifin were worth $1,653,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of PH. Birchcreek Wealth Management LLC purchased a new position in Parker-Hannifin during the 3rd quarter valued at about $222,000. Empowered Funds LLC grew its holdings in Parker-Hannifin by 13.5% in the third quarter. Empowered Funds LLC now owns 2,499 shares of the industrial products company’s stock worth $1,579,000 after purchasing an additional 298 shares during the last quarter. Empirical Finance LLC lifted its holdings in shares of Parker-Hannifin by 2.1% during the 3rd quarter. Empirical Finance LLC now owns 4,425 shares of the industrial products company’s stock valued at $2,796,000 after purchasing an additional 89 shares during the last quarter. King Wealth Management Group grew its stake in Parker-Hannifin by 439.4% during the 3rd quarter. King Wealth Management Group now owns 12,245 shares of the industrial products company’s stock worth $7,737,000 after buying an additional 9,975 shares during the last quarter. Finally, CIBC Asset Management Inc increased its position in Parker-Hannifin by 8.4% during the 3rd quarter. CIBC Asset Management Inc now owns 18,782 shares of the industrial products company’s stock valued at $11,867,000 after buying an additional 1,453 shares in the last quarter. 82.44% of the stock is owned by institutional investors.

Insider Activity

In other Parker-Hannifin news, VP Joseph R. Leonti sold 5,877 shares of the firm’s stock in a transaction on Friday, November 1st. The stock was sold at an average price of $631.04, for a total value of $3,708,622.08. Following the sale, the vice president now directly owns 15,350 shares in the company, valued at $9,686,464. This trade represents a 27.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Berend Bracht sold 850 shares of the business’s stock in a transaction that occurred 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 owns 3,350 shares of the company’s stock, valued at $1,986,282. This represents a 20.24 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 18,927 shares of company stock valued at $12,807,811. 0.39% of the stock is currently owned by company insiders.

Parker-Hannifin Price Performance

Shares of Parker-Hannifin stock opened at $698.91 on Friday. The company has a quick ratio of 0.57, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. The firm has a market cap of $89.96 billion, a PE ratio of 31.57, a P/E/G ratio of 2.85 and a beta of 1.43. The business has a 50-day moving average price of $636.19 and a 200 day moving average price of $574.94. Parker-Hannifin Co. has a twelve month low of $425.20 and a twelve month high of $711.60.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.14 by $0.06. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The company had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same quarter in the prior year, the company earned $5.96 EPS. Parker-Hannifin’s revenue was up 1.2% compared to the same quarter last year. Sell-side analysts predict 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. Shareholders of record on Friday, November 8th will be given a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date is Friday, November 8th. Parker-Hannifin’s payout ratio is 29.45%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on PH shares. Deutsche Bank Aktiengesellschaft raised their price target on Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Evercore ISI boosted their price objective on shares of Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Wells Fargo & Company lifted their price target on Parker-Hannifin from $640.00 to $710.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Finally, TD Cowen lifted their target price on Parker-Hannifin from $520.00 to $575.00 and gave the stock a “hold” rating in a report on Tuesday. Two investment analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus target price of $688.07.

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.