LVW Advisors LLC Boosts Holdings in Parker-Hannifin Co. (NYSE:PH)

by · The Markets Daily

LVW Advisors LLC lifted its stake in Parker-Hannifin Co. (NYSE:PH – Free Report) by 14.2% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,952 shares of the industrial products company’s stock after purchasing an additional 242 shares during the quarter. LVW Advisors LLC’s holdings in Parker-Hannifin were worth $1,233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently modified their holdings of PH. TD Asset Management Inc raised its position in 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 worth $73,493,000 after buying an additional 79,774 shares during the last quarter. Daiwa Securities Group Inc. increased its position in shares of Parker-Hannifin by 8.5% during 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 last quarter. Concurrent Investment Advisors LLC increased its position in shares of Parker-Hannifin by 261.4% during 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 last quarter. Oppenheimer Asset Management Inc. increased its position in shares of Parker-Hannifin by 54.1% during 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 last quarter. Finally, Janney Montgomery Scott LLC increased its position in shares of Parker-Hannifin by 16.5% during 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 last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Insider Activity at Parker-Hannifin

In related news, Director Joseph Scaminace sold 1,751 shares of the stock in a transaction on 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 sale, the director now owns 3,900 shares in the company, valued at approximately $2,299,947. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of the stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $589.73, for a total value of $1,032,617.23. Following the sale, the director now owns 3,900 shares in the company, valued at $2,299,947. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Berend Bracht sold 850 shares of the 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 in the company, valued at approximately $1,986,282. The trade was 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 insiders.

Parker-Hannifin Price Performance

Shares of NYSE PH traded up $8.39 during midday trading on Friday, reaching $639.91. 107,330 shares of the stock traded hands, compared to its average volume of 638,448. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.93 and a quick ratio of 0.55. The stock has a market capitalization of $82.34 billion, a PE ratio of 28.98, a P/E/G ratio of 2.57 and a beta of 1.43. Parker-Hannifin Co. has a one year low of $362.49 and a one year high of $640.00. The company’s 50 day moving average is $593.45 and its 200 day moving average is $556.28.

Parker-Hannifin (NYSE:PH – Get Free Report) last posted its earnings results on Thursday, August 8th. The industrial products company reported $6.77 EPS for the quarter, beating analysts’ consensus estimates of $6.22 by $0.55. The firm had revenue of $5.19 billion during the quarter, compared to the consensus estimate of $5.08 billion. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the company earned $6.08 EPS. On average, equities research analysts anticipate that Parker-Hannifin Co. will post 26.64 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Wednesday, August 28th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $6.52 annualized dividend and a yield of 1.02%. Parker-Hannifin’s payout ratio is presently 29.92%.

Wall Street Analysts Forecast Growth

PH has been the subject of several research reports. Robert W. Baird upped their price target on shares of Parker-Hannifin from $622.00 to $654.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Stifel Nicolaus boosted their price objective on Parker-Hannifin from $633.00 to $691.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. Raymond James boosted their price objective on Parker-Hannifin from $610.00 to $650.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Wednesday, October 2nd. Finally, Truist Financial boosted their price objective on Parker-Hannifin from $673.00 to $788.00 and gave the company a “buy” rating in a research note on Wednesday. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and an average target price of $649.86.

Get Our Latest Research Report on PH

Parker-Hannifin Profile

(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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