Ted Buchan & Co Makes New $346,000 Investment in Parker-Hannifin Co. (NYSE:PH)

Ted Buchan & Co purchased a new position in Parker-Hannifin Co. (NYSE:PH) in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 685 shares of the industrial products company’s stock, valued at approximately $346,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Truist Financial Corp raised its stake in shares of Parker-Hannifin by 94.4% in the second quarter. Truist Financial Corp now owns 139,062 shares of the industrial products company’s stock valued at $70,339,000 after acquiring an additional 67,532 shares during the period. Chase Investment Counsel Corp raised its stake in shares of Parker-Hannifin by 9.0% in the second quarter. Chase Investment Counsel Corp now owns 1,818 shares of the industrial products company’s stock valued at $919,000 after acquiring an additional 150 shares during the period. EP Wealth Advisors LLC increased its stake in Parker-Hannifin by 7.1% in the 2nd quarter. EP Wealth Advisors LLC now owns 2,731 shares of the industrial products company’s stock worth $1,381,000 after buying an additional 180 shares during the period. B. Riley Wealth Advisors Inc. increased its stake in Parker-Hannifin by 2.7% in the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 2,450 shares of the industrial products company’s stock worth $1,239,000 after buying an additional 64 shares during the period. Finally, Ecofi Investissements SA purchased a new position in Parker-Hannifin in the 2nd quarter worth about $741,000. Institutional investors own 82.44% of the company’s stock.

Insider Buying and Selling

In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, 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 is accessible through this link. In other Parker-Hannifin 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 transaction of $503,982.00. Following the completion of the transaction, the vice president now directly owns 3,350 shares in the company, valued at $1,986,282. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, 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 transaction, the director now owns 3,900 shares of the company’s stock, valued at $2,299,947. The disclosure for this sale can be found here. 1.03% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently commented on PH. Stifel Nicolaus reduced their price target on shares of Parker-Hannifin from $629.00 to $613.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Evercore ISI raised their price target on shares of Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th. Deutsche Bank Aktiengesellschaft raised their price target on shares of Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Barclays reduced their price target on shares of Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 4th. Finally, TD Cowen raised their target price on shares of Parker-Hannifin from $500.00 to $520.00 and gave the company a “hold” rating in a research report on Wednesday, September 11th. Three investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $624.43.

Parker-Hannifin Stock Down 0.2 %

PH stock opened at $631.82 on Tuesday. The firm has a 50 day moving average of $580.24 and a 200 day moving average of $551.69. The stock has a market capitalization of $81.21 billion, a PE ratio of 29.77, a price-to-earnings-growth ratio of 2.54 and a beta of 1.43. The company has a quick ratio of 0.55, a current ratio of 0.93 and a debt-to-equity ratio of 0.59. Parker-Hannifin Co. has a 52 week low of $362.49 and a 52 week high of $639.87.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, August 8th. The industrial products company reported $6.77 EPS for the quarter, topping analysts’ consensus estimates of $6.22 by $0.55. The company had revenue of $5.19 billion during the quarter, compared to analysts’ expectations of $5.08 billion. Parker-Hannifin had a net margin of 14.27% and a return on equity of 29.08%. Parker-Hannifin’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period last year, the business earned $6.08 EPS. Sell-side analysts forecast that Parker-Hannifin Co. will post 26.63 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Wednesday, August 28th were paid a $1.63 dividend. This represents a $6.52 dividend on an annualized basis 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%.

Parker-Hannifin Company 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.