Coldstream Capital Management Inc. Buys 72 Shares of Parker-Hannifin Co. (NYSE:PH)

Coldstream Capital Management Inc. grew its stake in Parker-Hannifin Co. (NYSE:PH) by 2.8% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 2,644 shares of the industrial products company’s stock after purchasing an additional 72 shares during the quarter. Coldstream Capital Management Inc.’s holdings in Parker-Hannifin were worth $1,337,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of PH. Norges Bank purchased a new stake in shares of Parker-Hannifin in the 4th quarter worth about $665,188,000. Kodai Capital Management LP purchased a new stake in shares of Parker-Hannifin in the 4th quarter worth about $122,449,000. 1832 Asset Management L.P. grew its position in shares of Parker-Hannifin by 305.0% in the 1st quarter. 1832 Asset Management L.P. now owns 307,794 shares of the industrial products company’s stock worth $171,069,000 after buying an additional 231,788 shares during the period. AMF Tjanstepension AB grew its position in shares of Parker-Hannifin by 23.0% in the 2nd quarter. AMF Tjanstepension AB now owns 758,262 shares of the industrial products company’s stock worth $383,594,000 after buying an additional 141,862 shares during the period. Finally, Groupama Asset Managment purchased a new stake in shares of Parker-Hannifin in the 4th quarter worth about $63,043,000. 82.44% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Parker-Hannifin

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

Wall Street Analysts Forecast Growth

PH has been the topic of a number of recent research reports. Barclays reduced their target price on shares of Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 4th. TD Cowen increased their price objective on shares of Parker-Hannifin from $500.00 to $520.00 and gave the company a “hold” rating in a research report on Wednesday. Truist Financial reissued a “buy” rating and set a $673.00 price objective (up from $621.00) on shares of Parker-Hannifin in a research report on Friday, August 9th. Evercore ISI increased their price objective on shares of Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. Finally, Deutsche Bank Aktiengesellschaft increased their price objective on shares of Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $624.43.

Parker-Hannifin Price Performance

NYSE PH opened at $584.40 on Thursday. Parker-Hannifin Co. has a 12 month low of $362.49 and a 12 month high of $601.30. The stock has a market cap of $75.12 billion, a price-to-earnings ratio of 27.54, a PEG ratio of 2.32 and a beta of 1.43. The company’s 50 day moving average is $558.92 and its two-hundred day moving average is $544.21. The company has a current ratio of 0.93, a quick ratio of 0.55 and a debt-to-equity ratio of 0.59.

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. Parker-Hannifin had a net margin of 14.27% and a return on equity of 29.08%. The company had revenue of $5.19 billion for the quarter, compared to analysts’ expectations of $5.08 billion. During the same quarter last year, the business earned $6.08 EPS. The firm’s revenue was up 1.8% compared to the same quarter last year. As a group, research analysts anticipate that Parker-Hannifin Co. will post 26.65 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Wednesday, August 28th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.12%. The ex-dividend date is Wednesday, August 28th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 30.73%.

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.