Scientech Research LLC Makes New $2.39 Million Investment in Parker-Hannifin Co. (NYSE:PH)

Scientech Research LLC acquired a new position in shares of Parker-Hannifin Co. (NYSE:PH) during the 2nd quarter, Holdings Channel reports. The firm acquired 4,723 shares of the industrial products company’s stock, valued at approximately $2,389,000. Parker-Hannifin makes up 0.5% of Scientech Research LLC’s holdings, making the stock its 23rd biggest position.

Other large investors have also recently added to or reduced their stakes in the company. Fidelis Capital Partners LLC lifted its stake in shares of Parker-Hannifin by 2.3% in the first quarter. Fidelis Capital Partners LLC now owns 851 shares of the industrial products company’s stock worth $473,000 after acquiring an additional 19 shares during the period. Harbor Investment Advisory LLC lifted its stake in shares of 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 acquiring an additional 20 shares during the period. GoalVest Advisory LLC lifted its stake in shares of Parker-Hannifin by 40.0% in the first quarter. GoalVest Advisory LLC now owns 70 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 20 shares during the period. American Trust increased its holdings in Parker-Hannifin by 3.2% in the first quarter. American Trust now owns 649 shares of the industrial products company’s stock worth $361,000 after purchasing an additional 20 shares in the last quarter. Finally, TFG Advisers LLC increased its holdings in Parker-Hannifin by 0.9% in the second quarter. TFG Advisers LLC now owns 2,171 shares of the industrial products company’s stock worth $1,098,000 after purchasing an additional 20 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

Shares of PH opened at $635.94 on Friday. The stock’s 50-day simple moving average is $576.89 and its 200 day simple moving average is $550.18. The stock has a market capitalization of $81.74 billion, a price-to-earnings ratio of 29.97, a price-to-earnings-growth ratio of 2.51 and a beta of 1.43. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.55 and a current ratio of 0.93. Parker-Hannifin Co. has a 52-week low of $362.49 and a 52-week high of $639.87.

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

Parker-Hannifin Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Wednesday, August 28th were paid 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 1.03%. Parker-Hannifin’s dividend payout ratio is currently 30.73%.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on PH shares. Robert W. Baird lifted their target price on Parker-Hannifin from $622.00 to $654.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. StockNews.com downgraded Parker-Hannifin from a “buy” rating to a “hold” rating in a report on Tuesday. Raymond James lifted their target price on Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft lifted their target price on Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, Barclays lowered their target price on Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating for the company in a report on Tuesday, June 4th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $624.43.

Insiders Place Their Bets

In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of the company’s 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 transaction, the director now directly owns 3,900 shares in the company, valued at approximately $2,299,947. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, VP Berend Bracht sold 850 shares of the stock in a transaction dated 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 directly 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. Also, Director Joseph Scaminace sold 1,751 shares of the stock in a transaction dated 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 transaction, the director now owns 3,900 shares in the company, valued at $2,299,947. The disclosure for this sale can be found here. Corporate insiders own 1.03% of the company’s stock.

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.