Aptus Capital Advisors LLC Has $313,000 Holdings in Parker-Hannifin Co. (NYSE:PH)

Aptus Capital Advisors LLC raised its position in shares of Parker-Hannifin Co. (NYSE:PH) by 10.6% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 618 shares of the industrial products company’s stock after acquiring an additional 59 shares during the period. Aptus Capital Advisors LLC’s holdings in Parker-Hannifin were worth $313,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of PH. Norges Bank acquired a new stake in Parker-Hannifin during the 4th quarter valued at $665,188,000. Kodai Capital Management LP bought a new stake in shares of Parker-Hannifin during the fourth quarter worth $122,449,000. 1832 Asset Management L.P. increased its stake in shares of Parker-Hannifin by 305.0% in the first quarter. 1832 Asset Management L.P. now owns 307,794 shares of the industrial products company’s stock valued at $171,069,000 after buying an additional 231,788 shares in the last quarter. AMF Tjanstepension AB raised its holdings in shares of Parker-Hannifin by 23.0% in the second quarter. AMF Tjanstepension AB now owns 758,262 shares of the industrial products company’s stock valued at $383,594,000 after buying an additional 141,862 shares during the last quarter. Finally, Groupama Asset Managment acquired a new position in Parker-Hannifin during the 4th quarter worth about $63,043,000. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Trading Down 4.1 %

PH opened at $575.36 on Wednesday. The firm’s fifty day moving average is $550.26 and its two-hundred day moving average is $542.09. The firm has a market cap of $73.96 billion, a PE ratio of 27.11, a price-to-earnings-growth ratio of 2.44 and a beta of 1.44. Parker-Hannifin Co. has a twelve month low of $362.49 and a twelve month high of $601.30. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.55 and a current ratio of 0.93.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, August 8th. The industrial products company reported $6.77 EPS for the quarter, topping the consensus estimate of $6.22 by $0.55. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. The business had revenue of $5.19 billion for the quarter, compared to the consensus estimate of $5.08 billion. During the same quarter last year, the business posted $6.08 EPS. The firm’s revenue was up 1.8% compared to the same quarter last year. Equities research analysts anticipate that Parker-Hannifin Co. will post 26.61 EPS for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Wednesday, August 28th will be given a $1.63 dividend. The ex-dividend date is Wednesday, August 28th. This represents a $6.52 annualized dividend and a dividend yield of 1.13%. Parker-Hannifin’s dividend payout ratio is presently 30.73%.

Insider Buying and Selling

In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of Parker-Hannifin stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $592.92, for a total value of $503,982.00. Following the transaction, the vice president now owns 3,350 shares of the company’s stock, valued at $1,986,282. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Joseph Scaminace sold 1,751 shares of the stock in a transaction dated 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 completion of the transaction, the director now directly owns 3,900 shares in the company, valued at $2,299,947. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, VP Berend Bracht sold 850 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were 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 disclosure for this sale can be found here. 1.03% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have weighed in on PH. Mizuho raised shares of Parker-Hannifin from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $550.00 to $650.00 in a research note on Tuesday, May 28th. Evercore ISI upped their price objective on Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. Deutsche Bank Aktiengesellschaft lifted their target price on Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Raymond James assumed coverage on Parker-Hannifin in a research report on Friday, June 28th. They set an “outperform” rating and a $610.00 target price for the company. Finally, Robert W. Baird raised their price target on Parker-Hannifin from $622.00 to $654.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Parker-Hannifin presently has an average rating of “Moderate Buy” and an average target price of $620.14.

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.