Parker-Hannifin Co. (NYSE:PH) Stock Holdings Increased by Candriam S.C.A.

Candriam S.C.A. boosted its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 5.1% during the second quarter, HoldingsChannel.com reports. The firm owned 70,190 shares of the industrial products company’s stock after acquiring an additional 3,401 shares during the period. Candriam S.C.A.’s holdings in Parker-Hannifin were worth $35,501,000 as of its most recent SEC filing.

Several other large investors have also recently added to or reduced their stakes in PH. Sachetta LLC purchased a new position in shares of Parker-Hannifin during the 4th quarter valued at $25,000. Addison Advisors LLC acquired a new stake in Parker-Hannifin during the second quarter valued at $25,000. First United Bank & Trust purchased a new position in Parker-Hannifin in the fourth quarter valued at about $29,000. Harbor Investment Advisory LLC increased its position in Parker-Hannifin by 60.6% in 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 last quarter. Finally, Newbridge Financial Services Group Inc. purchased a new stake in shares of Parker-Hannifin during the 4th quarter worth about $30,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Activity at Parker-Hannifin

In other news, Director Joseph Scaminace sold 1,751 shares of the business’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 sale, the director now directly owns 3,900 shares in the company, valued at $2,299,947. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Joseph Scaminace sold 1,751 shares of the company’s 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 sale, the director now owns 3,900 shares of the company’s stock, valued at $2,299,947. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, 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 transaction of $503,982.00. Following the transaction, the vice president now owns 3,350 shares of the company’s stock, valued at approximately $1,986,282. The disclosure for this sale can be found here. Corporate insiders own 1.03% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on the company. Mizuho raised Parker-Hannifin from a “neutral” rating to a “buy” rating and boosted their price target for the company from $550.00 to $650.00 in a research note on Tuesday, May 28th. Raymond James boosted their target price on shares of Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a research report on Wednesday. Stifel Nicolaus cut their price target on shares of Parker-Hannifin from $629.00 to $613.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. 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 note on Friday, August 9th. Finally, Truist Financial reissued a “buy” rating and set a $673.00 price objective (up previously from $621.00) on shares of Parker-Hannifin in a report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and an average target price of $623.00.

Parker-Hannifin Stock Performance

Shares of NYSE PH opened at $571.64 on Friday. Parker-Hannifin Co. has a 12 month low of $362.49 and a 12 month high of $601.30. The company has a quick ratio of 0.55, a current ratio of 0.93 and a debt-to-equity ratio of 0.59. The company has a market cap of $73.51 billion, a P/E ratio of 26.94, a P/E/G ratio of 2.44 and a beta of 1.43. The business’s 50 day moving average is $554.47 and its two-hundred day moving average is $542.92.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, August 8th. The industrial products company reported $6.77 EPS for the quarter, beating the consensus estimate of $6.22 by $0.55. The firm had revenue of $5.19 billion during the quarter, compared to analysts’ expectations of $5.08 billion. Parker-Hannifin had a net margin of 14.27% and a return on equity of 29.08%. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the company earned $6.08 EPS. On average, equities analysts expect that Parker-Hannifin Co. will post 26.61 EPS for the current year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Wednesday, August 28th will be given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.14%. The ex-dividend date is Wednesday, August 28th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 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.