Royal London Asset Management Ltd. Buys 549 Shares of Parker-Hannifin Co. (NYSE:PH)

Royal London Asset Management Ltd. increased its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 1.1% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 50,866 shares of the industrial products company’s stock after acquiring an additional 549 shares during the quarter. Royal London Asset Management Ltd.’s holdings in Parker-Hannifin were worth $25,729,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. Fidelis Capital Partners LLC grew its position in shares of Parker-Hannifin by 2.3% in the 1st quarter. Fidelis Capital Partners LLC now owns 851 shares of the industrial products company’s stock worth $473,000 after buying an additional 19 shares during the last quarter. Harbor Investment Advisory LLC grew its position in shares of Parker-Hannifin by 60.6% in the 1st quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock worth $29,000 after buying an additional 20 shares during the last quarter. GoalVest Advisory LLC grew its position in shares of Parker-Hannifin by 40.0% in the 1st quarter. GoalVest Advisory LLC now owns 70 shares of the industrial products company’s stock worth $39,000 after buying an additional 20 shares during the last quarter. American Trust grew its position 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 worth $361,000 after buying an additional 20 shares during the last quarter. Finally, TFG Advisers LLC grew its position 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 worth $1,098,000 after buying an additional 20 shares during the last quarter. 82.44% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on PH. TD Cowen lifted their price target on Parker-Hannifin from $500.00 to $520.00 and gave the company a “hold” rating in a research report on Wednesday. Truist Financial restated a “buy” rating and set a $673.00 price target (up from $621.00) on shares of Parker-Hannifin in a research report on Friday, August 9th. Deutsche Bank Aktiengesellschaft lifted their price target on Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Barclays dropped their price target on Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 4th. Finally, Bank of America lifted their price target on Parker-Hannifin from $600.00 to $650.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus target price of $624.43.

Parker-Hannifin Stock Up 0.6 %

PH stock opened at $584.40 on Thursday. Parker-Hannifin Co. has a 1-year low of $362.49 and a 1-year high of $601.30. The business has a fifty day moving average price of $558.92 and a 200-day moving average price of $544.21. 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 $75.12 billion, a P/E ratio of 27.54, a P/E/G ratio of 2.32 and a beta of 1.43.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, August 8th. The industrial products company reported $6.77 earnings per share 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 firm had revenue of $5.19 billion during the quarter, compared to analysts’ expectations of $5.08 billion. During the same quarter in the previous year, the business earned $6.08 earnings per share. The company’s revenue was up 1.8% on a year-over-year basis. Equities analysts forecast that Parker-Hannifin Co. will post 26.65 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company 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 dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.12%. The ex-dividend date is Wednesday, August 28th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 30.73%.

Insider Activity at Parker-Hannifin

In related news, Director Joseph Scaminace sold 1,751 shares of the company’s 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 completion of the sale, the director now owns 3,900 shares in the company, valued at $2,299,947. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Joseph Scaminace sold 1,751 shares of the firm’s stock in a transaction dated 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 transaction, the director now owns 3,900 shares of the company’s stock, valued at $2,299,947. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Berend Bracht sold 850 shares of the firm’s stock in a transaction dated 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 transaction, the vice president now directly 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.

Parker-Hannifin 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.