Qsemble Capital Management LP Lowers Stake in Parker-Hannifin Co. (NYSE:PH)

Qsemble Capital Management LP lowered its position in shares of Parker-Hannifin Co. (NYSE:PH) by 40.0% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,947 shares of the industrial products company’s stock after selling 1,964 shares during the quarter. Qsemble Capital Management LP’s holdings in Parker-Hannifin were worth $1,491,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in PH. Norges Bank purchased a new position in Parker-Hannifin during the fourth quarter valued at approximately $665,188,000. Kodai Capital Management LP bought a new stake in shares of Parker-Hannifin during the fourth quarter valued at approximately $122,449,000. 1832 Asset Management L.P. raised its position in shares of Parker-Hannifin by 305.0% during the first quarter. 1832 Asset Management L.P. now owns 307,794 shares of the industrial products company’s stock valued at $171,069,000 after buying an additional 231,788 shares during the last quarter. AMF Tjanstepension AB raised its position in shares of Parker-Hannifin by 23.0% during the second quarter. AMF Tjanstepension AB now owns 758,262 shares of the industrial products company’s stock valued at $383,594,000 after buying an additional 141,862 shares during the last quarter. Finally, Groupama Asset Managment bought a new stake in shares of Parker-Hannifin during the fourth quarter valued at approximately $63,043,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Trading Up 0.5 %

Shares of PH opened at $587.55 on Friday. Parker-Hannifin Co. has a twelve month low of $362.49 and a twelve month high of $601.30. The company has a market cap of $75.52 billion, a P/E ratio of 27.69, a P/E/G ratio of 2.32 and a beta of 1.43. The company has a current ratio of 0.93, a quick ratio of 0.55 and a debt-to-equity ratio of 0.59. The company’s fifty day simple moving average is $560.42 and its 200-day simple moving average is $544.51.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, August 8th. The industrial products company reported $6.77 earnings per share for the quarter, beating the consensus estimate of $6.22 by $0.55. Parker-Hannifin had a net margin of 14.27% and a return on equity of 29.08%. The business had revenue of $5.19 billion for the quarter, compared to the consensus estimate of $5.08 billion. During the same quarter in the prior year, the firm posted $6.08 earnings per share. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. As a group, analysts expect that Parker-Hannifin Co. will post 26.65 EPS for the current year.

Parker-Hannifin Dividend Announcement

The company also recently announced 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. This represents a $6.52 annualized dividend and a dividend yield of 1.11%. The ex-dividend date is Wednesday, August 28th. Parker-Hannifin’s dividend payout ratio is currently 30.73%.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on PH shares. Raymond James lifted their price objective on shares of Parker-Hannifin from $610.00 to $650.00 and gave the company an “outperform” rating in a research report on Wednesday, September 4th. Bank of America lifted their price objective on shares of Parker-Hannifin from $600.00 to $650.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Stifel Nicolaus reduced their price objective 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. Wells Fargo & Company boosted their price target on shares of Parker-Hannifin from $600.00 to $640.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Finally, Barclays decreased their price target on shares of Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 4th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. Based on data from MarketBeat, Parker-Hannifin currently has an average rating of “Moderate Buy” and a consensus target price of $624.43.

Insider Activity

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 value of $1,032,617.23. Following the sale, the director now owns 3,900 shares of the company’s stock, valued at $2,299,947. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, VP Berend Bracht sold 850 shares of the company’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $592.92, for a total value of $503,982.00. Following the transaction, the vice president now directly owns 3,350 shares in the company, valued at $1,986,282. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Director Joseph Scaminace sold 1,751 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the completion of the transaction, the director now owns 3,900 shares in the company, valued at $2,299,947. The disclosure for this sale can be found here. Insiders own 1.03% of the company’s stock.

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.