Ensign Peak Advisors Inc Raises Stock Position in Parker-Hannifin Co. (NYSE:PH)

Ensign Peak Advisors Inc lifted its position in Parker-Hannifin Co. (NYSE:PH) by 2.9% in the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 24,918 shares of the industrial products company’s stock after purchasing an additional 710 shares during the period. Ensign Peak Advisors Inc’s holdings in Parker-Hannifin were worth $12,604,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Addison Advisors LLC purchased a new stake in shares of Parker-Hannifin in the 2nd quarter worth $25,000. Harbor Investment Advisory LLC raised its stake in Parker-Hannifin by 60.6% in the first quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock worth $29,000 after buying an additional 20 shares in the last quarter. Northwest Investment Counselors LLC purchased a new stake in Parker-Hannifin during the first quarter worth $31,000. Newbridge Financial Services Group Inc. bought a new stake in Parker-Hannifin during the fourth quarter valued at about $30,000. Finally, Fortitude Family Office LLC lifted its position in shares of Parker-Hannifin by 346.7% during the second quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company’s stock valued at $34,000 after buying an additional 52 shares during the last quarter. Institutional investors own 82.44% of the company’s stock.

Insider Buying and Selling at Parker-Hannifin

In other 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 sale, the director now owns 3,900 shares of the company’s stock, valued at approximately $2,299,947. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of the stock in a transaction that occurred 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 transaction, the vice president now owns 3,350 shares in the company, valued at $1,986,282. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Joseph Scaminace sold 1,751 shares of the business’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 completion of the sale, 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 currently owned by corporate insiders.

Analysts Set New Price Targets

Several research firms recently commented on PH. 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 research note on Tuesday, June 4th. Evercore ISI increased their price objective on Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Wells Fargo & Company boosted their target price on Parker-Hannifin from $600.00 to $640.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. TD Cowen increased their price target on Parker-Hannifin from $500.00 to $520.00 and gave the company a “hold” rating in a research note on Wednesday, September 11th. Finally, Stifel Nicolaus dropped their price target on Parker-Hannifin from $629.00 to $613.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus target price of $624.43.

Parker-Hannifin Stock Performance

Shares of NYSE PH opened at $618.66 on Tuesday. The company has a 50 day simple moving average of $572.71 and a two-hundred day simple moving average of $548.45. The stock has a market cap of $79.52 billion, a price-to-earnings ratio of 29.15, a PEG ratio of 2.42 and a beta of 1.43. 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 Co. has a 12 month low of $362.49 and a 12 month high of $627.30.

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

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Wednesday, August 28th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.05%. The ex-dividend date of this dividend was Wednesday, August 28th. Parker-Hannifin’s dividend payout ratio is currently 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.