759 Shares in Parker-Hannifin Co. (NYSE:PH) Bought by Deerfield Management Company L.P. Series C

Deerfield Management Company L.P. Series C bought a new position in shares of Parker-Hannifin Co. (NYSE:PH) in the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 759 shares of the industrial products company’s stock, valued at approximately $384,000.

A number of other hedge funds also recently bought and sold shares of PH. Fidelis Capital Partners LLC increased its position in Parker-Hannifin by 2.3% during 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 increased its holdings in shares of Parker-Hannifin by 60.6% during the 1st quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 20 shares during the period. GoalVest Advisory LLC raised its position in shares of Parker-Hannifin by 40.0% during the first quarter. GoalVest Advisory LLC now owns 70 shares of the industrial products company’s stock valued at $39,000 after buying an additional 20 shares during the last quarter. American Trust lifted its stake in shares of Parker-Hannifin by 3.2% in the first quarter. American Trust now owns 649 shares of the industrial products company’s stock valued at $361,000 after buying an additional 20 shares during the period. Finally, TFG Advisers LLC grew its position in Parker-Hannifin by 0.9% during the second quarter. TFG Advisers LLC now owns 2,171 shares of the industrial products company’s stock worth $1,098,000 after buying an additional 20 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors.

Insider Activity

In related news, VP Berend Bracht sold 850 shares of the firm’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 $1,986,282. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, VP Berend Bracht sold 850 shares of the stock in a transaction that occurred 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 directly 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 available at this link. Also, 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 sale, the director now directly owns 3,900 shares of the company’s stock, valued at approximately $2,299,947. The disclosure for this sale can be found here. Insiders own 1.03% of the company’s stock.

Parker-Hannifin Stock Down 0.4 %

Shares of PH opened at $632.92 on Friday. The business’s 50 day simple moving average is $576.89 and its 200-day simple moving average is $550.18. Parker-Hannifin Co. has a one year low of $362.49 and a one year high of $639.87. The company has a market capitalization of $81.36 billion, a P/E ratio of 29.83, a PEG ratio of 2.51 and a beta of 1.43. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.93 and a quick ratio of 0.55.

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

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Wednesday, August 28th were paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $6.52 annualized dividend and a dividend yield of 1.03%. Parker-Hannifin’s dividend payout ratio (DPR) is currently 30.73%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Barclays cut their price target on Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating for the company in a report on Tuesday, June 4th. Stifel Nicolaus decreased their price target on shares of Parker-Hannifin from $629.00 to $613.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Truist Financial restated a “buy” rating and issued a $673.00 price objective (up previously from $621.00) on shares of Parker-Hannifin in a research note on Friday, August 9th. Robert W. Baird lifted their target price on shares of Parker-Hannifin from $622.00 to $654.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Finally, Evercore ISI increased their price target on shares of Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $624.43.

Parker-Hannifin Company 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.