Parker-Hannifin Co. (NYSE:PH) Shares Bought by Wealthspire Advisors LLC

Wealthspire Advisors LLC raised its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 9.2% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 1,267 shares of the industrial products company’s stock after acquiring an additional 107 shares during the period. Wealthspire Advisors LLC’s holdings in Parker-Hannifin were worth $641,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also modified their holdings of the company. Addison Advisors LLC acquired a new position in Parker-Hannifin in the second quarter valued at approximately $25,000. Harbor Investment Advisory LLC lifted its stake 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 valued at $29,000 after purchasing an additional 20 shares during the period. Sachetta LLC purchased a new stake in Parker-Hannifin during the fourth quarter worth $25,000. Northwest Investment Counselors LLC acquired a new stake in Parker-Hannifin during the first quarter valued at $31,000. Finally, Newbridge Financial Services Group Inc. purchased a new position in Parker-Hannifin in the fourth quarter valued at $30,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Transactions at Parker-Hannifin

In related news, Director Joseph Scaminace sold 1,751 shares of the stock in a transaction on 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 completion of the sale, the director now directly owns 3,900 shares in the company, valued at approximately $2,299,947. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, VP Berend Bracht sold 850 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $592.92, for a total value of $503,982.00. Following the sale, the vice president now owns 3,350 shares in the company, valued at approximately $1,986,282. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Joseph Scaminace sold 1,751 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $589.73, for a total value of $1,032,617.23. Following the sale, the director now owns 3,900 shares in the company, valued at approximately $2,299,947. The disclosure for this sale can be found here. Company insiders own 1.03% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PH. TD Cowen upped their price target on Parker-Hannifin from $500.00 to $520.00 and gave the stock a “hold” rating in a report on Wednesday, September 11th. Mizuho raised shares of Parker-Hannifin from a “neutral” rating to a “buy” rating and lifted their price target for the company from $550.00 to $650.00 in a research note on Tuesday, May 28th. Wells Fargo & Company upped their price objective on shares of Parker-Hannifin from $600.00 to $640.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Stifel Nicolaus dropped their target price on shares of Parker-Hannifin from $629.00 to $613.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Finally, Robert W. Baird upped their price target on shares of Parker-Hannifin from $622.00 to $654.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $624.43.

Parker-Hannifin Price Performance

Shares of NYSE:PH opened at $591.33 on Monday. Parker-Hannifin Co. has a 12 month low of $362.49 and a 12 month high of $601.30. The firm has a market capitalization of $76.05 billion, a price-to-earnings ratio of 27.87, a price-to-earnings-growth ratio of 2.37 and a beta of 1.43. The business’s 50 day simple moving average is $562.14 and its 200-day simple moving average is $545.12. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.93 and a quick ratio of 0.55.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, August 8th. The industrial products company reported $6.77 EPS for the quarter, beating 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 company 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 EPS. The firm’s revenue was up 1.8% on a year-over-year basis. As a group, equities analysts forecast that Parker-Hannifin Co. will post 26.67 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Wednesday, August 28th were paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $6.52 annualized dividend and a yield of 1.10%. Parker-Hannifin’s dividend payout ratio is currently 30.73%.

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.