Bokf Na Sells 1,511 Shares of Parker-Hannifin Co. (NYSE:PH)

Bokf Na trimmed its holdings in Parker-Hannifin Co. (NYSE:PH) by 71.7% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 596 shares of the industrial products company’s stock after selling 1,511 shares during the period. Bokf Na’s holdings in Parker-Hannifin were worth $301,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the business. Sachetta LLC acquired a new stake in Parker-Hannifin during the 4th quarter valued at $25,000. Addison Advisors LLC bought a new stake in shares of Parker-Hannifin during the 2nd quarter worth about $25,000. Harbor Investment Advisory LLC boosted its holdings in shares of Parker-Hannifin by 60.6% during the 1st quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock worth $29,000 after buying an additional 20 shares during the period. Newbridge Financial Services Group Inc. bought a new position in Parker-Hannifin in the 4th quarter valued at about $30,000. Finally, Northwest Investment Counselors LLC bought a new position in Parker-Hannifin in the 1st quarter valued at about $31,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on the company. Evercore ISI boosted their price objective on Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. Barclays lowered their price objective 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. Raymond James lifted their target price on Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Stifel Nicolaus lowered their price target 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, Truist Financial reissued a “buy” rating and issued a $673.00 price objective (up previously from $621.00) on shares of Parker-Hannifin in a report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $624.43.

Parker-Hannifin Stock Up 1.0 %

Shares of PH opened at $597.09 on Tuesday. The firm has a 50 day simple moving average of $563.90 and a two-hundred day simple moving average of $545.56. The company has a market cap of $76.75 billion, a P/E ratio of 28.14, a P/E/G ratio of 2.39 and a beta of 1.43. Parker-Hannifin Co. has a one year low of $362.49 and a one year high of $601.30. 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 (NYSE:PH) last announced its quarterly earnings data on Thursday, August 8th. The industrial products company reported $6.77 earnings per share for the quarter, topping the consensus estimate of $6.22 by $0.55. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. The business 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 company earned $6.08 EPS. Parker-Hannifin’s revenue for the quarter was up 1.8% on a year-over-year basis. Research analysts forecast that Parker-Hannifin Co. will post 26.63 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Wednesday, August 28th were issued a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.09%. The ex-dividend date of this dividend was Wednesday, August 28th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 30.73%.

Insider Buying and Selling

In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $592.92, for a total transaction of $503,982.00. Following the sale, the vice president now owns 3,350 shares of the company’s stock, valued at $1,986,282. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, Director Joseph Scaminace sold 1,751 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the director now owns 3,900 shares in the company, valued at approximately $2,299,947. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 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 transaction of $503,982.00. Following the sale, the vice president now directly owns 3,350 shares in the company, 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 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.