Hardy Reed LLC Sells 28 Shares of Parker-Hannifin Co. (NYSE:PH)

Hardy Reed LLC lowered its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 1.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 1,462 shares of the industrial products company’s stock after selling 28 shares during the quarter. Hardy Reed LLC’s holdings in Parker-Hannifin were worth $924,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also modified their holdings of PH. FMR LLC lifted its position in shares of Parker-Hannifin by 7.1% in the third quarter. FMR LLC now owns 4,116,257 shares of the industrial products company’s stock worth $2,600,733,000 after buying an additional 272,531 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its position in Parker-Hannifin by 3.9% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,593,970 shares of the industrial products company’s stock worth $1,007,102,000 after purchasing an additional 59,432 shares during the period. Boston Partners grew its holdings in Parker-Hannifin by 4.1% during the first quarter. Boston Partners now owns 1,111,720 shares of the industrial products company’s stock valued at $617,878,000 after purchasing an additional 43,535 shares during the last quarter. Legal & General Group Plc raised its position in shares of Parker-Hannifin by 1.3% in the second quarter. Legal & General Group Plc now owns 985,280 shares of the industrial products company’s stock valued at $498,366,000 after purchasing an additional 12,615 shares during the period. Finally, AMF Tjanstepension AB boosted its holdings in shares of Parker-Hannifin by 23.0% during the 2nd quarter. AMF Tjanstepension AB now owns 758,262 shares of the industrial products company’s stock worth $383,594,000 after buying an additional 141,862 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Activity

In other news, VP Thomas C. Gentile sold 2,430 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $701.16, for a total transaction of $1,703,818.80. Following the sale, the vice president now directly owns 5,465 shares of the company’s stock, valued at $3,831,839.40. This represents a 30.78 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Andrew D. Ross sold 4,864 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total value of $3,434,178.56. Following the completion of the transaction, the chief operating officer now owns 13,120 shares in the company, valued at $9,263,244.80. The trade was a 27.05 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 18,077 shares of company stock worth $12,303,829. Insiders own 0.39% of the company’s stock.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $706.92 on Wednesday. The business has a 50 day simple moving average of $651.50 and a 200 day simple moving average of $582.76. The company has a debt-to-equity ratio of 0.52, a current ratio of 0.96 and a quick ratio of 0.57. The company has a market capitalization of $90.99 billion, a PE ratio of 31.93, a price-to-earnings-growth ratio of 2.84 and a beta of 1.43. Parker-Hannifin Co. has a one year low of $426.49 and a one year high of $712.42.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.14 by $0.06. The company had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.90 billion. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The business’s revenue was up 1.2% on a year-over-year basis. During the same period last year, the business earned $5.96 earnings per share. On average, sell-side analysts forecast that Parker-Hannifin Co. will post 26.77 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 0.92%. The ex-dividend date of this dividend is Friday, November 8th. Parker-Hannifin’s payout ratio is 29.45%.

Analyst Upgrades and Downgrades

Several research analysts recently commented on PH shares. Truist Financial lifted their target price on shares of Parker-Hannifin from $673.00 to $788.00 and gave the stock a “buy” rating in a report on Wednesday, October 9th. Wells Fargo & Company boosted their price objective on Parker-Hannifin from $640.00 to $710.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. UBS Group assumed coverage on Parker-Hannifin in a research report on Wednesday, November 13th. They issued a “buy” rating and a $842.00 price target on the stock. StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, October 12th. Finally, Raymond James boosted their target price on shares of Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. Three research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus price target of $691.40.

Parker-Hannifin 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.