Silver Lake Advisory LLC Buys New Shares in Parker-Hannifin Co. (NYSE:PH)

Silver Lake Advisory LLC purchased a new position in Parker-Hannifin Co. (NYSE:PH) during the 2nd quarter, according to its most recent 13F filing with the SEC. The firm purchased 515 shares of the industrial products company’s stock, valued at approximately $261,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. Addison Advisors LLC acquired a new stake in Parker-Hannifin during the second quarter worth about $25,000. Harbor Investment Advisory LLC increased its position in shares of Parker-Hannifin by 60.6% during the first 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. Newbridge Financial Services Group Inc. acquired a new position in shares of Parker-Hannifin in the fourth quarter valued at $30,000. Northwest Investment Counselors LLC acquired a new position in shares of Parker-Hannifin in the first quarter valued at $31,000. Finally, Fortitude Family Office LLC lifted its position 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. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

Shares of PH stock opened at $632.77 on Monday. The stock’s fifty day moving average is $578.64 and its 200-day moving average is $551.02. 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 $639.87. The stock has a market capitalization of $81.42 billion, a PE ratio of 29.82, a PEG ratio of 2.54 and a beta of 1.43.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data 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. Parker-Hannifin had a net margin of 14.27% and a return on equity of 29.08%. The firm had revenue of $5.19 billion during the quarter, compared to analysts’ expectations of $5.08 billion. During the same quarter last year, the company posted $6.08 EPS. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. Equities research analysts expect that Parker-Hannifin Co. will post 26.63 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Wednesday, August 28th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.03%. The ex-dividend date was Wednesday, August 28th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 30.73%.

Insiders Place Their Bets

In other news, VP Berend Bracht sold 850 shares of the business’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 $1,986,282. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. In other Parker-Hannifin 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 value of $1,032,617.23. Following the transaction, the director now directly 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. Also, 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 transaction of $503,982.00. Following the sale, the vice president now owns 3,350 shares of the company’s stock, valued at approximately $1,986,282. The disclosure for this sale can be found here. Company insiders own 1.03% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on PH. Stifel Nicolaus lowered their price target 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 reissued a “buy” rating and issued a $673.00 price target (up previously from $621.00) on shares of Parker-Hannifin in a research report on Friday, August 9th. Barclays cut their price target 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. Deutsche Bank Aktiengesellschaft upped their price objective on Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, Evercore ISI raised their target price on Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Three investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $624.43.

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.