Parker-Hannifin Co. (NYSE:PH) Shares Purchased by SRS Capital Advisors Inc.

SRS Capital Advisors Inc. grew its position in shares of Parker-Hannifin Co. (NYSE:PH) by 5.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,209 shares of the industrial products company’s stock after acquiring an additional 65 shares during the quarter. SRS Capital Advisors Inc.’s holdings in Parker-Hannifin were worth $612,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of the company. Vanguard Group Inc. increased its position in Parker-Hannifin by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 10,566,391 shares of the industrial products company’s stock valued at $5,872,694,000 after acquiring an additional 105,475 shares during the period. Norges Bank bought a new position in shares of Parker-Hannifin in the fourth quarter worth $665,188,000. Boston Partners increased its holdings in shares of Parker-Hannifin by 4.1% during the first quarter. Boston Partners now owns 1,111,720 shares of the industrial products company’s stock valued at $617,878,000 after purchasing an additional 43,535 shares during the period. AMF Tjanstepension AB raised its stake in shares of Parker-Hannifin by 23.0% during the second quarter. AMF Tjanstepension AB now owns 758,262 shares of the industrial products company’s stock valued at $383,594,000 after purchasing an additional 141,862 shares in the last quarter. Finally, Baird Financial Group Inc. lifted its holdings in Parker-Hannifin by 3.7% in the fourth quarter. Baird Financial Group Inc. now owns 694,970 shares of the industrial products company’s stock worth $320,173,000 after purchasing an additional 25,060 shares during the period. Institutional investors own 82.44% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on PH. Bank of America raised their target price on shares of Parker-Hannifin from $600.00 to $650.00 and gave the company a “buy” rating in a research note on Friday, May 17th. Barclays cut their target price on Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating for the company in a research report on Tuesday, June 4th. Raymond James lifted their price target on Parker-Hannifin from $610.00 to $650.00 and gave the company an “outperform” rating in a research report on Wednesday. Stifel Nicolaus decreased their target price on Parker-Hannifin from $629.00 to $613.00 and set a “buy” rating for the company in a research note on Thursday, July 18th. Finally, Evercore ISI lifted their target price on Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. Two 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 presently has an average rating of “Moderate Buy” and a consensus target price of $623.00.

Insiders Place Their Bets

In other news, VP Berend Bracht sold 850 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $592.92, for a total value of $503,982.00. Following the transaction, the vice president now owns 3,350 shares in the company, valued at approximately $1,986,282. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Joseph Scaminace sold 1,751 shares of Parker-Hannifin 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 completion of the sale, the director now owns 3,900 shares of the company’s stock, valued at $2,299,947. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, VP Berend Bracht sold 850 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $592.92, for a total value 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 disclosure for this sale can be found here. Corporate insiders own 1.03% of the company’s stock.

Parker-Hannifin Stock Performance

Parker-Hannifin stock opened at $571.31 on Friday. Parker-Hannifin Co. has a fifty-two week low of $362.49 and a fifty-two week high of $601.30. The firm’s 50 day simple moving average is $554.47 and its 200-day simple moving average is $543.08. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.93 and a quick ratio of 0.55. The company has a market cap of $73.44 billion, a P/E ratio of 26.92, a price-to-earnings-growth ratio of 2.44 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, topping the consensus estimate of $6.22 by $0.55. The firm had revenue of $5.19 billion for 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%. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the previous year, the company posted $6.08 EPS. As a group, equities research analysts predict that Parker-Hannifin Co. will post 26.61 EPS for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Wednesday, August 28th will be paid a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.14%. The ex-dividend date of this dividend is Wednesday, August 28th. Parker-Hannifin’s dividend payout ratio is currently 30.73%.

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.