Lansing Street Advisors Makes New $272,000 Investment in Parker-Hannifin Co. (NYSE:PH)

Lansing Street Advisors purchased a new stake in Parker-Hannifin Co. (NYSE:PH) during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 430 shares of the industrial products company’s stock, valued at approximately $272,000.

Other institutional investors have also made changes to their positions in the company. Norden Group LLC acquired a new stake in shares of Parker-Hannifin in the first quarter worth $350,000. Private Advisor Group LLC lifted its stake in shares of Parker-Hannifin by 5.3% in the first quarter. Private Advisor Group LLC now owns 4,392 shares of the industrial products company’s stock valued at $2,441,000 after buying an additional 220 shares during the period. Diversify Advisory Services LLC bought a new position in Parker-Hannifin in the first quarter worth $203,000. Choreo LLC increased its holdings in Parker-Hannifin by 127.8% in the 1st quarter. Choreo LLC now owns 1,205 shares of the industrial products company’s stock valued at $670,000 after buying an additional 676 shares during the period. Finally, Graypoint LLC boosted its position in shares of Parker-Hannifin by 2.8% during the 1st quarter. Graypoint LLC now owns 950 shares of the industrial products company’s stock valued at $528,000 after acquiring an additional 26 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have weighed in on PH shares. Stifel Nicolaus lifted their price objective on Parker-Hannifin from $633.00 to $691.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. KeyCorp raised their price target on shares of Parker-Hannifin from $640.00 to $725.00 and gave the company an “overweight” rating in a report on Monday, October 14th. StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, October 12th. Raymond James boosted their target price on Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. Finally, Mizuho raised their price target on Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a report on Thursday, October 17th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, Parker-Hannifin has a consensus rating of “Moderate Buy” and an average price target of $664.57.

Parker-Hannifin Price Performance

Shares of PH opened at $635.03 on Monday. The company has a 50 day moving average of $615.46 and a 200-day moving average of $565.22. The company has a quick ratio of 0.55, a current ratio of 0.96 and a debt-to-equity ratio of 0.52. Parker-Hannifin Co. has a twelve month low of $395.00 and a twelve month high of $646.60. The stock has a market capitalization of $81.71 billion, a P/E ratio of 28.68, a P/E/G ratio of 2.57 and a beta of 1.43.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, October 31st. The industrial products company reported $6.20 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.14 by $0.06. Parker-Hannifin had a return on equity of 27.95% and a net margin of 14.47%. The company had revenue of $4.90 billion during the quarter, compared to analysts’ expectations of $4.90 billion. During the same period last year, the firm posted $5.96 earnings per share. The business’s revenue was up 1.2% on a year-over-year basis. As a group, equities research analysts forecast that Parker-Hannifin Co. will post 26.67 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Stockholders of record on Friday, November 8th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.03%. The ex-dividend date is Friday, November 8th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 29.45%.

Insider Activity

In other news, Director Joseph Scaminace sold 1,751 shares of the stock in a transaction dated Thursday, August 15th. The stock was 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 approximately $2,299,947. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, Director Joseph Scaminace sold 1,751 shares of the stock in a transaction 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 completion of the sale, the director now directly owns 3,900 shares in the company, valued at $2,299,947. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Berend Bracht sold 850 shares of the stock in a transaction that occurred 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 transaction, the vice president now owns 3,350 shares in the company, valued at $1,986,282. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.39% of the company’s stock.

Parker-Hannifin Profile

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.