Parker-Hannifin Co. (NYSE:PH) Shares Bought by Tredje AP fonden

Tredje AP fonden lifted its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 18.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 47,562 shares of the industrial products company’s stock after buying an additional 7,500 shares during the period. Tredje AP fonden’s holdings in Parker-Hannifin were worth $24,057,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in PH. Gilbert & Cook Inc. increased its holdings in shares of Parker-Hannifin by 5.0% during the fourth quarter. Gilbert & Cook Inc. now owns 1,031 shares of the industrial products company’s stock valued at $475,000 after purchasing an additional 49 shares during the period. Dynamic Technology Lab Private Ltd lifted its holdings in shares of Parker-Hannifin by 16.0% in the fourth quarter. Dynamic Technology Lab Private Ltd now owns 2,258 shares of the industrial products company’s stock valued at $1,040,000 after buying an additional 311 shares during the period. Coldstream Capital Management Inc. boosted its stake in Parker-Hannifin by 4.9% during the fourth quarter. Coldstream Capital Management Inc. now owns 2,001 shares of the industrial products company’s stock valued at $922,000 after buying an additional 94 shares in the last quarter. Wells Fargo & Company MN raised its position in Parker-Hannifin by 11.8% in the fourth quarter. Wells Fargo & Company MN now owns 630,306 shares of the industrial products company’s stock worth $290,382,000 after acquiring an additional 66,331 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its holdings in Parker-Hannifin by 122.3% in the 4th quarter. Clearbridge Investments LLC now owns 2,001 shares of the industrial products company’s stock valued at $922,000 after acquiring an additional 1,101 shares during the last quarter. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Price Performance

Shares of NYSE:PH opened at $605.17 on Wednesday. The business has a fifty day simple moving average of $565.83 and a 200 day simple moving average of $546.03. The company has a current ratio of 0.93, a quick ratio of 0.55 and a debt-to-equity ratio of 0.59. Parker-Hannifin Co. has a 1 year low of $362.49 and a 1 year high of $607.69. The firm has a market cap of $77.79 billion, a price-to-earnings ratio of 28.52, a P/E/G ratio of 2.39 and a beta of 1.43.

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 the consensus estimate of $6.22 by $0.55. The business had revenue of $5.19 billion during the quarter, compared to analyst estimates of $5.08 billion. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. The firm’s revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the company earned $6.08 EPS. As a group, sell-side analysts predict that Parker-Hannifin Co. will post 26.63 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Wednesday, August 28th were issued a $1.63 dividend. This represents a $6.52 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date was Wednesday, August 28th. Parker-Hannifin’s dividend payout ratio is presently 30.73%.

Insiders Place Their Bets

In other news, VP Berend Bracht sold 850 shares of the company’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 completion of the sale, the vice president now owns 3,350 shares in the company, valued at approximately $1,986,282. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, Director Joseph Scaminace sold 1,751 shares of the firm’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 sale, the director now owns 3,900 shares in the company, valued at $2,299,947. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, VP Berend Bracht sold 850 shares of the business’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 in the company, valued at approximately $1,986,282. The disclosure for this sale can be found here. Company insiders own 1.03% of the company’s stock.

Wall Street Analyst Weigh In

PH has been the topic of a number of research reports. TD Cowen boosted their target price on shares of Parker-Hannifin from $500.00 to $520.00 and gave the stock a “hold” rating in a report on Wednesday, September 11th. Mizuho raised Parker-Hannifin from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $550.00 to $650.00 in a research note on Tuesday, May 28th. Evercore ISI lifted their target price on Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. Barclays cut their target price on Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 4th. Finally, Raymond James lifted their price target on Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $624.43.

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.