Daymark Wealth Partners LLC Sells 130 Shares of Parker-Hannifin Co. (NYSE:PH)

Daymark Wealth Partners LLC decreased its position in Parker-Hannifin Co. (NYSE:PH) by 0.5% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 23,992 shares of the industrial products company’s stock after selling 130 shares during the period. Daymark Wealth Partners LLC’s holdings in Parker-Hannifin were worth $12,136,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Gilbert & Cook Inc. increased its holdings in shares of Parker-Hannifin by 5.0% during the 4th quarter. Gilbert & Cook Inc. now owns 1,031 shares of the industrial products company’s stock worth $475,000 after acquiring an additional 49 shares during the last quarter. Advisory Services Network LLC lifted its stake in shares of Parker-Hannifin by 14.8% during the 4th quarter. Advisory Services Network LLC now owns 3,965 shares of the industrial products company’s stock worth $1,827,000 after buying an additional 511 shares during the last quarter. Steward Partners Investment Advisory LLC boosted its holdings in shares of Parker-Hannifin by 77.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,377 shares of the industrial products company’s stock worth $1,095,000 after buying an additional 1,041 shares during the period. TD Asset Management Inc grew its stake in Parker-Hannifin by 5.2% in the 4th quarter. TD Asset Management Inc now owns 52,457 shares of the industrial products company’s stock valued at $24,167,000 after buying an additional 2,602 shares during the last quarter. Finally, Stifel Financial Corp lifted its position in Parker-Hannifin by 3.4% during the fourth quarter. Stifel Financial Corp now owns 225,301 shares of the industrial products company’s stock worth $103,803,000 after acquiring an additional 7,356 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Buying and Selling

In other news, Director Joseph Scaminace sold 1,751 shares of the stock in a transaction dated Thursday, August 15th. The stock was 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 sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Joseph Scaminace sold 1,751 shares of Parker-Hannifin stock in a transaction 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 completion of the transaction, the director now owns 3,900 shares of the company’s stock, valued at $2,299,947. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 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 directly owns 3,350 shares in the company, valued at approximately $1,986,282. The disclosure for this sale can be found here. 1.03% of the stock is owned by corporate insiders.

Parker-Hannifin Stock Performance

NYSE:PH opened at $621.82 on Thursday. The stock’s 50-day moving average is $573.84 and its 200-day moving average is $549.07. Parker-Hannifin Co. has a 1-year low of $362.49 and a 1-year high of $629.18. The company has a current ratio of 0.93, a quick ratio of 0.55 and a debt-to-equity ratio of 0.59. The stock has a market cap of $80.01 billion, a P/E ratio of 29.30, a price-to-earnings-growth ratio of 2.51 and a beta of 1.43.

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

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Wednesday, August 28th were issued a $1.63 dividend. The ex-dividend date was Wednesday, August 28th. This represents a $6.52 dividend on an annualized basis and a yield of 1.05%. Parker-Hannifin’s payout ratio is 30.73%.

Analyst Upgrades and Downgrades

Several research firms recently issued reports on PH. TD Cowen boosted 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. StockNews.com downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research note on Tuesday. Truist Financial reaffirmed a “buy” rating and set a $673.00 price target (up from $621.00) on shares of Parker-Hannifin in a research report on Friday, August 9th. Stifel Nicolaus decreased their target price on shares of Parker-Hannifin from $629.00 to $613.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Finally, Evercore ISI lifted their price target 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. Three equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus 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.