Entropy Technologies LP Buys 2,131 Shares of Parker-Hannifin Co. (NYSE:PH)

Entropy Technologies LP lifted its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 40.3% in the 3rd quarter, Holdings Channel reports. The fund owned 7,416 shares of the industrial products company’s stock after acquiring an additional 2,131 shares during the quarter. Entropy Technologies LP’s holdings in Parker-Hannifin were worth $4,686,000 as of its most recent SEC filing.

Other large investors also recently made changes to their positions in the company. Atomi Financial Group Inc. boosted its holdings in Parker-Hannifin by 17.5% during the first quarter. Atomi Financial Group Inc. now owns 605 shares of the industrial products company’s stock worth $336,000 after purchasing an additional 90 shares during the last quarter. Meeder Asset Management Inc. acquired a new stake in Parker-Hannifin in the first quarter valued at $218,000. Headlands Technologies LLC lifted its stake in Parker-Hannifin by 409.3% in the first quarter. Headlands Technologies LLC now owns 769 shares of the industrial products company’s stock valued at $427,000 after acquiring an additional 618 shares during the last quarter. QRG Capital Management Inc. lifted its stake in Parker-Hannifin by 21.3% in the first quarter. QRG Capital Management Inc. now owns 8,949 shares of the industrial products company’s stock valued at $4,974,000 after acquiring an additional 1,574 shares during the last quarter. Finally, Russell Investments Group Ltd. lifted its stake in Parker-Hannifin by 14.5% in the first quarter. Russell Investments Group Ltd. now owns 40,778 shares of the industrial products company’s stock valued at $22,689,000 after acquiring an additional 5,174 shares during the last quarter. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

NYSE:PH opened at $708.15 on Tuesday. Parker-Hannifin Co. has a 52 week low of $415.97 and a 52 week high of $711.60. The firm has a market cap of $91.15 billion, a price-to-earnings ratio of 31.99, a P/E/G ratio of 2.80 and a beta of 1.43. The firm’s 50-day simple moving average is $623.97 and its 200 day simple moving average is $569.99. The company has a debt-to-equity ratio of 0.52, a quick ratio of 0.57 and a current ratio of 0.96.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, October 31st. The industrial products company reported $6.20 EPS for the quarter, beating the consensus estimate of $6.14 by $0.06. Parker-Hannifin had a net margin of 14.47% and a return on equity of 27.95%. The firm had revenue of $4.90 billion for the quarter, compared to analyst estimates of $4.90 billion. During the same period last year, the firm earned $5.96 EPS. The business’s quarterly revenue was up 1.2% compared to the same quarter last year. As a group, sell-side analysts predict that Parker-Hannifin Co. will post 26.79 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Shareholders of record on Friday, November 8th will be issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 0.92%. The ex-dividend date is Friday, November 8th. Parker-Hannifin’s dividend payout ratio is currently 29.45%.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, COO Andrew D. Ross sold 4,864 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total value of $3,434,178.56. Following the transaction, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at $9,263,244.80. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, COO Andrew D. Ross sold 4,864 shares of Parker-Hannifin stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $706.04, for a total transaction of $3,434,178.56. Following the sale, the chief operating officer now directly owns 13,120 shares of the company’s stock, valued at approximately $9,263,244.80. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available 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 shares were 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. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 20,678 shares of company stock valued at $13,840,428 in the last ninety days. 0.39% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of brokerages have commented on PH. KeyCorp increased their price target on shares of Parker-Hannifin from $640.00 to $725.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a research note on Friday, August 9th. StockNews.com upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Saturday, October 12th. Argus raised their target price on shares of Parker-Hannifin from $650.00 to $710.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Finally, Evercore ISI raised their target price on shares of Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $673.14.

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.