Parker-Hannifin Co. (NYSE:PH) Shares Sold by Deprince Race & Zollo Inc.

Deprince Race & Zollo Inc. reduced its position in shares of Parker-Hannifin Co. (NYSE:PH) by 1.2% during the second quarter, HoldingsChannel reports. The firm owned 71,759 shares of the industrial products company’s stock after selling 891 shares during the quarter. Deprince Race & Zollo Inc.’s holdings in Parker-Hannifin were worth $36,296,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Addison Advisors LLC bought a new stake in Parker-Hannifin in the second quarter valued at about $25,000. Harbor Investment Advisory LLC increased its holdings 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 acquiring an additional 20 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new stake in shares of Parker-Hannifin during the 4th quarter valued at approximately $30,000. Northwest Investment Counselors LLC bought a new position in Parker-Hannifin during the first quarter worth $31,000. Finally, Fortitude Family Office LLC boosted its holdings in Parker-Hannifin by 346.7% in the second quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 52 shares during the period. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Director Joseph Scaminace sold 1,751 shares of the firm’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 transaction 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 sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of Parker-Hannifin stock in a transaction that occurred 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 transaction, the director now directly owns 3,900 shares of the company’s stock, valued at approximately $2,299,947. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Berend Bracht sold 850 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $592.92, for a total transaction 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. Insiders own 1.03% of the company’s stock.

Parker-Hannifin Trading Down 0.6 %

Parker-Hannifin stock opened at $621.82 on Thursday. The company has a 50 day moving average price of $573.84 and a 200 day moving average price of $549.07. 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 Co. has a 52 week low of $362.49 and a 52 week high of $629.18. The firm has a market capitalization of $80.01 billion, a price-to-earnings ratio of 29.30, a P/E/G ratio of 2.51 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, beating the consensus estimate of $6.22 by $0.55. The firm 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%. Parker-Hannifin’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the firm earned $6.08 earnings per share. Research analysts forecast that Parker-Hannifin Co. will post 26.63 EPS for the current year.

Parker-Hannifin Announces Dividend

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

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on PH shares. 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 report on Thursday, July 18th. Truist Financial restated a “buy” rating and issued a $673.00 target price (up from $621.00) on shares of Parker-Hannifin in a research note on Friday, August 9th. Robert W. Baird raised their target price on Parker-Hannifin from $622.00 to $654.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft boosted their price objective on Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, Barclays reduced their price objective on shares of Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating for the company in a report on Tuesday, June 4th. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $624.43.

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.