First Long Island Investors LLC Purchases 525 Shares of Parker-Hannifin Co. (NYSE:PH)

First Long Island Investors LLC lifted its holdings in Parker-Hannifin Co. (NYSE:PH) by 0.8% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 68,921 shares of the industrial products company’s stock after purchasing an additional 525 shares during the period. Parker-Hannifin comprises about 3.4% of First Long Island Investors LLC’s portfolio, making the stock its 7th largest holding. First Long Island Investors LLC owned 0.05% of Parker-Hannifin worth $43,546,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in PH. West Branch Capital LLC acquired a new stake in shares of Parker-Hannifin in the third quarter worth approximately $25,000. Bangor Savings Bank grew its stake in Parker-Hannifin by 238.5% during the 3rd quarter. Bangor Savings Bank now owns 44 shares of the industrial products company’s stock valued at $28,000 after acquiring an additional 31 shares in the last quarter. Addison Advisors LLC acquired a new stake in Parker-Hannifin in the 2nd quarter valued at about $25,000. Northwest Investment Counselors LLC purchased a new position in Parker-Hannifin in the 3rd quarter worth approximately $39,000. Finally, Fortitude Family Office LLC grew its position in shares of Parker-Hannifin by 346.7% in the second quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 52 shares in the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Raymond James raised their price objective 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. KeyCorp increased their price objective on Parker-Hannifin from $640.00 to $725.00 and gave the stock an “overweight” rating in a research report on Monday, October 14th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Truist Financial lifted 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, October 9th. Finally, UBS Group assumed coverage on Parker-Hannifin in a research note on Wednesday. They set a “buy” rating and a $842.00 target price on the stock. Two equities research analysts have rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $688.07.

Parker-Hannifin Stock Up 0.2 %

Shares of NYSE:PH traded up $1.53 on Friday, hitting $699.16. 109,898 shares of the company’s stock were exchanged, compared to its average volume of 643,495. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96. Parker-Hannifin Co. has a 1-year low of $425.20 and a 1-year high of $711.60. The company has a market capitalization of $90.00 billion, a PE ratio of 31.66, a P/E/G ratio of 2.85 and a beta of 1.43. The firm’s 50-day moving average is $633.64 and its 200 day moving average is $573.94.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, October 31st. The industrial products company reported $6.20 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 for the quarter, compared to analyst estimates of $4.90 billion. During the same period in the prior year, the firm posted $5.96 earnings per share. The firm’s revenue was up 1.2% on a year-over-year basis. Sell-side analysts predict that Parker-Hannifin Co. will post 26.77 EPS for the current year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 8th will be paid a $1.63 dividend. The ex-dividend date is Friday, November 8th. This represents a $6.52 annualized dividend and a yield of 0.93%. Parker-Hannifin’s dividend payout ratio is presently 29.45%.

Insiders Place Their Bets

In related news, CEO Jennifer A. Parmentier sold 4,906 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $704.69, for a total transaction of $3,457,209.14. Following the transaction, the chief executive officer now owns 33,607 shares of the company’s stock, valued at $23,682,516.83. This trade represents a 12.74 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO Andrew D. Ross sold 4,864 shares of the company’s stock in a transaction that occurred 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 sale, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at approximately $9,263,244.80. This represents 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 have sold 18,927 shares of company stock valued at $12,807,811. 0.39% of the stock is currently owned by insiders.

About Parker-Hannifin

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.