GSA Capital Partners LLP Sells 390 Shares of Parker-Hannifin Co. (NYSE:PH)

GSA Capital Partners LLP reduced its position in Parker-Hannifin Co. (NYSE:PH) by 26.9% during the third quarter, HoldingsChannel reports. The firm owned 1,059 shares of the industrial products company’s stock after selling 390 shares during the period. GSA Capital Partners LLP’s holdings in Parker-Hannifin were worth $669,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. CVA Family Office LLC boosted its stake in shares of Parker-Hannifin by 3.9% in the 3rd quarter. CVA Family Office LLC now owns 425 shares of the industrial products company’s stock valued at $269,000 after purchasing an additional 16 shares during the last quarter. Sonoma Private Wealth LLC boosted its stake in shares of Parker-Hannifin by 2.9% in the 3rd quarter. Sonoma Private Wealth LLC now owns 667 shares of the industrial products company’s stock valued at $421,000 after purchasing an additional 19 shares during the last quarter. W Advisors LLC boosted its stake in shares of Parker-Hannifin by 3.4% in the 3rd quarter. W Advisors LLC now owns 581 shares of the industrial products company’s stock valued at $367,000 after purchasing an additional 19 shares during the last quarter. American Trust boosted its stake in shares of Parker-Hannifin by 3.2% in the 1st quarter. American Trust now owns 649 shares of the industrial products company’s stock valued at $361,000 after purchasing an additional 20 shares during the last quarter. Finally, TFG Advisers LLC boosted its stake in shares of Parker-Hannifin by 0.9% in the 2nd quarter. TFG Advisers LLC now owns 2,171 shares of the industrial products company’s stock valued at $1,098,000 after purchasing an additional 20 shares during the last quarter. 82.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

PH has been the topic of several research analyst reports. Stifel Nicolaus lowered shares of Parker-Hannifin from a “buy” rating to a “hold” rating and set a $691.00 target price on the stock. in a research note on Monday. Truist Financial increased their target price on shares of Parker-Hannifin from $673.00 to $788.00 and gave the stock a “buy” rating in a research note on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft increased their target price on shares of Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Evercore ISI increased their target price on shares of Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th. Finally, Mizuho increased their target price on shares of Parker-Hannifin from $665.00 to $715.00 and gave the stock an “outperform” rating in a research note on Thursday, October 17th. Three equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $688.07.

Insider Activity

In other news, VP Joseph R. Leonti sold 5,877 shares of the firm’s stock in a transaction that occurred on Friday, November 1st. The shares were sold at an average price of $631.04, for a total value of $3,708,622.08. Following the completion of the transaction, the vice president now directly owns 15,350 shares in the company, valued at approximately $9,686,464. This trade represents a 27.69 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO Andrew D. Ross sold 4,864 shares of the firm’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 transaction of $3,434,178.56. Following the completion of the sale, the chief operating officer now directly owns 13,120 shares in the company, valued at $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 ninety days, insiders sold 18,927 shares of company stock worth $12,807,811. 0.39% of the stock is owned by company insiders.

Parker-Hannifin Price Performance

Shares of NYSE:PH opened at $691.68 on Tuesday. 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 capitalization of $89.03 billion, a PE ratio of 31.24, a P/E/G ratio of 2.82 and a beta of 1.43. Parker-Hannifin Co. has a twelve month low of $426.49 and a twelve month high of $711.60. The company has a 50-day moving average price of $638.42 and a two-hundred day moving average price of $576.52.

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

Parker-Hannifin Announces Dividend

The firm 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 dividend of $1.63 per share. The ex-dividend date of this dividend is Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a yield of 0.94%. Parker-Hannifin’s dividend payout ratio is presently 29.45%.

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.