Parker-Hannifin Co. (NYSE:PH) Holdings Raised by Forsta AP Fonden

Forsta AP Fonden increased its position in shares of Parker-Hannifin Co. (NYSE:PH) by 4.7% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,100 shares of the industrial products company’s stock after acquiring an additional 1,300 shares during the period. Forsta AP Fonden’s holdings in Parker-Hannifin were worth $14,719,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of PH. Gilbert & Cook Inc. grew its holdings in Parker-Hannifin by 5.0% during the fourth quarter. Gilbert & Cook Inc. now owns 1,031 shares of the industrial products company’s stock worth $475,000 after acquiring an additional 49 shares during the period. Avantax Advisory Services Inc. grew its holdings in Parker-Hannifin by 3.5% during the fourth quarter. Avantax Advisory Services Inc. now owns 3,297 shares of the industrial products company’s stock worth $1,519,000 after acquiring an additional 112 shares during the period. Westpac Banking Corp grew its holdings in Parker-Hannifin by 19.3% during the fourth quarter. Westpac Banking Corp now owns 964 shares of the industrial products company’s stock worth $444,000 after acquiring an additional 156 shares during the period. Janney Montgomery Scott LLC acquired a new position in Parker-Hannifin during the fourth quarter worth about $16,820,000. Finally, Beacon Pointe Advisors LLC grew its holdings in Parker-Hannifin by 31.9% during the fourth quarter. Beacon Pointe Advisors LLC now owns 22,410 shares of the industrial products company’s stock worth $10,325,000 after acquiring an additional 5,415 shares during the period. 82.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, VP Berend Bracht sold 850 shares of Parker-Hannifin 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 directly owns 3,350 shares in the company, valued at approximately $1,986,282. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In related 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 value of $1,032,617.23. Following the completion of the sale, the director now directly owns 3,900 shares in the company, valued at approximately $2,299,947. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Berend Bracht sold 850 shares of the business’s 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 completion of the sale, the vice president now owns 3,350 shares of the company’s stock, valued at $1,986,282. The disclosure for this sale can be found here. 1.03% of the stock is owned by corporate insiders.

Parker-Hannifin Trading Up 0.5 %

NYSE:PH opened at $587.55 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.93 and a quick ratio of 0.55. Parker-Hannifin Co. has a fifty-two week low of $362.49 and a fifty-two week high of $601.30. The stock’s 50-day moving average is $560.42 and its two-hundred day moving average is $544.51. The stock has a market cap of $75.56 billion, a PE ratio of 27.69, a price-to-earnings-growth ratio of 2.37 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, equities research analysts forecast that Parker-Hannifin Co. will post 26.67 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Wednesday, August 28th will be issued a dividend of $1.63 per share. The ex-dividend date is Wednesday, August 28th. This represents a $6.52 annualized dividend and a dividend yield of 1.11%. Parker-Hannifin’s dividend payout ratio is 30.73%.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the company. Stifel Nicolaus dropped their price target on Parker-Hannifin from $629.00 to $613.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. 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. Evercore ISI lifted their price target on Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th. Robert W. Baird lifted their price target on Parker-Hannifin from $622.00 to $654.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $624.43.

Parker-Hannifin Company 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.