Doliver Advisors LP Purchases New Shares in Parker-Hannifin Co. (NYSE:PH)

Doliver Advisors LP purchased a new stake in Parker-Hannifin Co. (NYSE:PH) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund purchased 523 shares of the industrial products company’s stock, valued at approximately $330,000.

Several other large investors have also added to or reduced their stakes in the stock. 1832 Asset Management L.P. boosted its holdings in shares of Parker-Hannifin by 305.0% during the 1st quarter. 1832 Asset Management L.P. now owns 307,794 shares of the industrial products company’s stock valued at $171,069,000 after buying an additional 231,788 shares in the last quarter. AMF Tjanstepension AB grew its stake in shares of Parker-Hannifin by 23.0% during the 2nd quarter. AMF Tjanstepension AB now owns 758,262 shares of the industrial products company’s stock valued at $383,594,000 after acquiring an additional 141,862 shares during the period. Mackenzie Financial Corp grew its stake in shares of Parker-Hannifin by 107.7% during the 2nd quarter. Mackenzie Financial Corp now owns 271,717 shares of the industrial products company’s stock valued at $137,437,000 after acquiring an additional 140,898 shares during the period. Groupama Asset Managment bought a new position in shares of Parker-Hannifin during the 4th quarter valued at approximately $63,043,000. Finally, Congress Asset Management Co. MA grew its stake in shares of Parker-Hannifin by 503.9% during the 1st quarter. Congress Asset Management Co. MA now owns 156,196 shares of the industrial products company’s stock valued at $86,812,000 after acquiring an additional 130,331 shares during the period. Institutional investors own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have weighed in on PH. Deutsche Bank Aktiengesellschaft upped their price target on Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Truist Financial restated a “buy” rating and issued a $673.00 price target (up from $621.00) on shares of Parker-Hannifin in a research note on Friday, August 9th. Barclays upped their price objective on Parker-Hannifin from $650.00 to $703.00 and gave the stock an “overweight” rating in a report on Wednesday. Wells Fargo & Company upped their price objective on Parker-Hannifin from $600.00 to $640.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Finally, TD Cowen upped their price objective on Parker-Hannifin from $500.00 to $520.00 and gave the stock a “hold” rating in a report on Wednesday, September 11th. Two analysts have rated the stock with a hold rating and fourteen have assigned 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 $636.64.

Parker-Hannifin Trading Down 0.4 %

Parker-Hannifin stock opened at $627.50 on Thursday. The company has a quick ratio of 0.55, a current ratio of 0.93 and a debt-to-equity ratio of 0.59. Parker-Hannifin Co. has a 52 week low of $362.49 and a 52 week high of $639.87. The company has a market capitalization of $80.74 billion, a price-to-earnings ratio of 29.57, a price-to-earnings-growth ratio of 2.57 and a beta of 1.43. The stock has a 50-day moving average price of $583.78 and a 200 day moving average price of $552.89.

Parker-Hannifin (NYSE:PH) last announced its quarterly 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. 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 during the quarter, compared to the consensus estimate of $5.08 billion. During the same period in the previous year, the company posted $6.08 earnings per share. Parker-Hannifin’s revenue for the quarter was up 1.8% on a year-over-year basis. Sell-side analysts anticipate that Parker-Hannifin Co. will post 26.63 EPS for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently announced 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. This represents a $6.52 annualized dividend and a dividend yield of 1.04%. The ex-dividend date was Wednesday, August 28th. Parker-Hannifin’s payout ratio is 30.73%.

Insider Transactions at Parker-Hannifin

In other news, Director Joseph Scaminace sold 1,751 shares of the company’s 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 of the company’s stock, valued at approximately $2,299,947. The sale was disclosed in a filing with the SEC, which is available at this link. In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $592.92, for a total value of $503,982.00. Following the completion of the sale, the vice president now directly owns 3,350 shares in the company, valued at approximately $1,986,282. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Joseph Scaminace sold 1,751 shares of the company’s stock in a transaction 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. Corporate insiders own 1.03% of the company’s stock.

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.