Prairie Advisory LLC Purchases 3,433 Shares of Parker-Hannifin Corporation $PH

Prairie Advisory LLC raised its position in Parker-Hannifin Corporation (NYSE:PH) by 96.6% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,986 shares of the industrial products company’s stock after purchasing an additional 3,433 shares during the quarter. Parker-Hannifin accounts for approximately 0.8% of Prairie Advisory LLC’s portfolio, making the stock its 25th largest holding. Prairie Advisory LLC’s holdings in Parker-Hannifin were worth $6,675,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also modified their holdings of PH. Polaris Financial Partners purchased a new stake in shares of Parker-Hannifin during the 3rd quarter worth about $26,000. Archer Investment Corp purchased a new position in Parker-Hannifin in the second quarter valued at approximately $28,000. Pension & Wealth Management Advisors Inc. purchased a new position in Parker-Hannifin in the third quarter valued at approximately $30,000. NFSG Corp lifted its position in Parker-Hannifin by 94.4% during the first quarter. NFSG Corp now owns 35 shares of the industrial products company’s stock valued at $31,000 after buying an additional 17 shares in the last quarter. Finally, Bell Investment Advisors Inc acquired a new position in Parker-Hannifin during the second quarter valued at approximately $35,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on PH shares. Wells Fargo & Company initiated coverage on shares of Parker-Hannifin in a research note on Thursday, September 24th. They set an “equal weight” rating and a $1,050.00 price objective for the company. BMO Capital Markets reissued an “outperform” rating and issued a $1,214.00 target price (up from $1,068.00) on shares of Parker-Hannifin in a research note on Friday, August 7th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Parker-Hannifin from $998.00 to $1,023.00 and gave the company a “hold” rating in a report on Wednesday, September 30th. Citigroup upped their price target on shares of Parker-Hannifin from $1,232.00 to $1,234.00 and gave the stock a “buy” rating in a research report on Monday, October 12th. Finally, JPMorgan Chase & Co. lowered their price target on Parker-Hannifin from $1,140.00 to $1,131.00 and set an “overweight” rating for the company in a report on Friday, October 9th. Eighteen equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, Parker-Hannifin has a consensus rating of “Moderate Buy” and an average target price of $1,146.35.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Berend Bracht sold 602 shares of the company’s stock in a transaction dated Wednesday, August 26th. The shares were sold at an average price of $1,040.47, for a total value of $626,362.94. Following the completion of the transaction, the vice president directly owned 4,399 shares of the company’s stock, valued at $4,577,027.53. This represents a 12.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.35% of the stock is currently owned by insiders.

Parker-Hannifin Stock Up 0.5%

Shares of PH traded up $4.80 during mid-day trading on Monday, reaching $968.14. 162,826 shares of the stock traded hands, compared to its average volume of 682,430. The firm has a market cap of $122.09 billion, a price-to-earnings ratio of 33.98, a P/E/G ratio of 2.69 and a beta of 1.12. The stock has a fifty day simple moving average of $980.15 and a 200 day simple moving average of $950.62. Parker-Hannifin Corporation has a 12-month low of $734.72 and a 12-month high of $1,099.94. The company has a quick ratio of 0.74, a current ratio of 1.26 and a debt-to-equity ratio of 0.44.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, August 6th. The industrial products company reported $9.27 EPS for the quarter, topping analysts’ consensus estimates of $8.31 by $0.96. The business had revenue of $5.75 billion for the quarter, compared to analysts’ expectations of $5.57 billion. Parker-Hannifin had a net margin of 16.97% and a return on equity of 28.48%. The business’s revenue for the quarter was up 9.8% compared to the same quarter last year. During the same period in the previous year, the company posted $7.69 earnings per share. Parker-Hannifin has set its FY 2027 guidance at 34.250-35.250 EPS. Sell-side analysts expect that Parker-Hannifin Corporation will post 35.60 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 11th. Shareholders of record on Monday, August 31st were issued a $2.00 dividend. The ex-dividend date was Monday, August 31st. This represents a $8.00 dividend on an annualized basis and a yield of 0.8%. Parker-Hannifin’s payout ratio is currently 28.08%.

Parker-Hannifin Company Profile

Parker-Hannifin Corporation is a diversified manufacturer of motion and control technologies and systems. The company serves aerospace, industrial, and other specialized markets with products designed to control the movement and flow of liquids and gases, as well as mechanical motion and power.

Its product portfolio includes hydraulic and pneumatic systems, filtration and process-control equipment, electromechanical technologies, sealing and shielding products, connectors, pumps, valves, and related components.