Parker-Hannifin Co. (NYSE:PH) Shares Acquired by Truist Financial Corp

Truist Financial Corp grew its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 94.4% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 139,062 shares of the industrial products company’s stock after acquiring an additional 67,532 shares during the period. Truist Financial Corp’s holdings in Parker-Hannifin were worth $70,339,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the stock. Fidelis Capital Partners LLC grew its holdings in Parker-Hannifin by 2.3% during the 1st 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 in the last quarter. Harbor Investment Advisory LLC boosted its holdings in shares of Parker-Hannifin by 60.6% in the 1st quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock valued at $29,000 after buying an additional 20 shares during the period. GoalVest Advisory LLC boosted its holdings in shares of Parker-Hannifin by 40.0% in the 1st 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 period. American Trust boosted its holdings in shares of Parker-Hannifin by 3.2% in the 1st 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 boosted its holdings in shares of Parker-Hannifin by 0.9% in the 2nd quarter. TFG Advisers LLC now owns 2,171 shares of the industrial products company’s stock valued at $1,098,000 after buying an additional 20 shares during the period. 82.44% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Parker-Hannifin

In other news, VP Berend Bracht sold 850 shares of Parker-Hannifin 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 of the company’s stock, valued at $1,986,282. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, VP Berend Bracht sold 850 shares of Parker-Hannifin 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 of the company’s stock, valued at $1,986,282. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Joseph Scaminace sold 1,751 shares of Parker-Hannifin stock in a transaction that occurred 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 $2,299,947. The disclosure for this sale can be found here. 1.03% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have recently commented on PH. Raymond James lifted their price target on shares of Parker-Hannifin from $610.00 to $650.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. TD Cowen lifted their price target on shares of Parker-Hannifin from $500.00 to $520.00 and gave the company a “hold” rating in a report on Wednesday, September 11th. Robert W. Baird lifted their price objective 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. StockNews.com downgraded shares of Parker-Hannifin from a “buy” rating to a “hold” rating in a research report on Tuesday, September 24th. Finally, Stifel Nicolaus cut their price objective 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. Three research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $624.43.

Parker-Hannifin Stock Down 0.3 %

NYSE PH opened at $630.14 on Wednesday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.93 and a quick ratio of 0.55. The company’s 50 day simple moving average is $581.81 and its 200 day simple moving average is $552.36. Parker-Hannifin Co. has a 12 month low of $362.49 and a 12 month high of $639.87. The company has a market capitalization of $81.00 billion, a P/E ratio of 29.70, a PEG ratio of 2.54 and a beta of 1.43.

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 business had revenue of $5.19 billion for the quarter, compared to the consensus estimate of $5.08 billion. During the same period in the previous year, the firm earned $6.08 EPS. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. Equities research analysts expect that Parker-Hannifin Co. will post 26.63 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently announced 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 of this dividend was Wednesday, August 28th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.03%. Parker-Hannifin’s payout ratio is currently 30.73%.

About Parker-Hannifin

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.