Parker-Hannifin Co. (NYSE:PH) Shares Acquired by Catalina Capital Group LLC

Catalina Capital Group LLC raised its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 5.9% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 650 shares of the industrial products company’s stock after purchasing an additional 36 shares during the quarter. Catalina Capital Group LLC’s holdings in Parker-Hannifin were worth $329,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Tennessee Valley Asset Management Partners purchased a new position in shares of Parker-Hannifin in the 4th quarter worth $43,000. abrdn plc raised its holdings in shares of Parker-Hannifin by 57.8% in the 4th quarter. abrdn plc now owns 54,802 shares of the industrial products company’s stock worth $25,247,000 after purchasing an additional 20,073 shares during the period. CWM LLC lifted its stake in shares of Parker-Hannifin by 22.9% in the 4th quarter. CWM LLC now owns 3,710 shares of the industrial products company’s stock valued at $1,709,000 after purchasing an additional 692 shares in the last quarter. OLD National Bancorp IN purchased a new stake in shares of Parker-Hannifin during the 4th quarter worth about $235,000. Finally, PDS Planning Inc acquired a new stake in Parker-Hannifin during the 4th quarter worth approximately $230,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Price Performance

Shares of PH stock traded up $6.52 during midday trading on Friday, reaching $593.82. 492,647 shares of the company were exchanged, compared to its average volume of 666,500. The company’s 50 day moving average price is $538.48 and its two-hundred day moving average price is $538.17. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.55 and a current ratio of 0.93. The company has a market cap of $76.33 billion, a P/E ratio of 27.98, a PEG ratio of 2.37 and a beta of 1.44. Parker-Hannifin Co. has a 12 month low of $362.49 and a 12 month high of $594.10.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, August 8th. The industrial products company reported $6.77 earnings per share for the quarter, topping 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 firm had revenue of $5.19 billion during the quarter, compared to the consensus estimate of $5.08 billion. During the same period in the prior year, the firm posted $6.08 earnings per share. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. On average, sell-side analysts expect that Parker-Hannifin Co. will post 26.61 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Wednesday, August 28th will be paid a $1.63 dividend. The ex-dividend date is Wednesday, August 28th. This represents a $6.52 annualized dividend and a dividend yield of 1.10%. Parker-Hannifin’s dividend payout ratio is currently 30.73%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on PH shares. Evercore ISI lifted their price target on shares of Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Raymond James initiated coverage on Parker-Hannifin in a research report on Friday, June 28th. They issued an “outperform” rating and a $610.00 target price for the company. Stifel Nicolaus reduced their target price on shares of Parker-Hannifin from $629.00 to $613.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Finally, Bank of America upped their target price on shares of Parker-Hannifin from $600.00 to $650.00 and gave the company a “buy” rating in a research note on Friday, May 17th. 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, Parker-Hannifin has an average rating of “Moderate Buy” and an average price target of $620.14.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of the company’s stock in a transaction on 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 transaction, the director now owns 3,900 shares of the company’s stock, valued at $2,299,947. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 1.03% 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.