Summit Trail Advisors LLC Sells 263 Shares of Parker-Hannifin Co. (NYSE:PH)

Summit Trail Advisors LLC lowered its position in Parker-Hannifin Co. (NYSE:PH) by 13.9% in the 2nd quarter, Holdings Channel reports. The firm owned 1,624 shares of the industrial products company’s stock after selling 263 shares during the quarter. Summit Trail Advisors LLC’s holdings in Parker-Hannifin were worth $822,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of PH. TD Asset Management Inc lifted its stake in shares of Parker-Hannifin by 152.1% during the 1st quarter. TD Asset Management Inc now owns 132,231 shares of the industrial products company’s stock worth $73,493,000 after acquiring an additional 79,774 shares during the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Parker-Hannifin by 8.5% during the first quarter. Daiwa Securities Group Inc. now owns 22,960 shares of the industrial products company’s stock worth $12,761,000 after purchasing an additional 1,802 shares during the last quarter. Quadrature Capital Ltd purchased a new stake in shares of Parker-Hannifin during the fourth quarter valued at $4,068,000. Concurrent Investment Advisors LLC grew its holdings in shares of Parker-Hannifin by 261.4% in the first quarter. Concurrent Investment Advisors LLC now owns 2,515 shares of the industrial products company’s stock worth $1,397,000 after purchasing an additional 1,819 shares during the last quarter. Finally, Lockheed Martin Investment Management Co. increased its stake in Parker-Hannifin by 18.1% in the 4th quarter. Lockheed Martin Investment Management Co. now owns 56,070 shares of the industrial products company’s stock worth $25,831,000 after buying an additional 8,600 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

PH has been the topic of a number of research analyst reports. Raymond James upped their target price on shares of Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. Evercore ISI raised 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 report on Friday, August 9th. Stifel Nicolaus dropped their price target on 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, Barclays lowered their price objective on shares of Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating for the company in a research note on Tuesday, June 4th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, Parker-Hannifin has a consensus rating of “Moderate Buy” and an average target price of $624.43.

Parker-Hannifin Stock Down 0.4 %

Shares of PH stock opened at $623.77 on Monday. The stock’s fifty day moving average price is $571.23 and its 200 day moving average price is $547.89. Parker-Hannifin Co. has a 1-year low of $362.49 and a 1-year high of $627.30. The company has a market cap of $80.18 billion, a price-to-earnings ratio of 29.40, a price-to-earnings-growth ratio of 2.42 and a beta of 1.43. 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 issued its quarterly earnings results on Thursday, August 8th. The industrial products company reported $6.77 earnings per share for the quarter, topping analysts’ consensus estimates of $6.22 by $0.55. The business had revenue of $5.19 billion for the quarter, compared to analyst estimates of $5.08 billion. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. The company’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned $6.08 earnings per share. On average, research analysts expect that Parker-Hannifin Co. will post 26.63 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Wednesday, August 28th were issued a $1.63 dividend. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.05%. Parker-Hannifin’s dividend payout ratio is currently 30.73%.

Insider Transactions at Parker-Hannifin

In related news, Director Joseph Scaminace sold 1,751 shares of the firm’s 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 transaction, the director now owns 3,900 shares in the company, valued at approximately $2,299,947. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, VP Berend Bracht sold 850 shares of the company’s stock in a transaction 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 sale, the vice president now directly owns 3,350 shares of the company’s stock, valued at approximately $1,986,282. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Joseph Scaminace sold 1,751 shares of the firm’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 transaction, the director now directly owns 3,900 shares of the company’s stock, valued at approximately $2,299,947. The disclosure for this sale can be found here. Insiders own 1.03% of the company’s stock.

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.