Mathes Company Inc. Raises Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Mathes Company Inc. lifted its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 1.0% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,199 shares of the industrial products company’s stock after acquiring an additional 116 shares during the quarter. Parker-Hannifin makes up approximately 2.1% of Mathes Company Inc.’s holdings, making the stock its 13th biggest position. Mathes Company Inc.’s holdings in Parker-Hannifin were worth $5,664,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Gilbert & Cook Inc. raised its stake in Parker-Hannifin by 5.0% during the 4th quarter. Gilbert & Cook Inc. now owns 1,031 shares of the industrial products company’s stock valued at $475,000 after purchasing an additional 49 shares during the period. Dynamic Technology Lab Private Ltd lifted its stake in Parker-Hannifin by 16.0% in the 4th quarter. Dynamic Technology Lab Private Ltd now owns 2,258 shares of the industrial products company’s stock worth $1,040,000 after purchasing an additional 311 shares in the last quarter. Coldstream Capital Management Inc. grew its position in shares of Parker-Hannifin by 4.9% during the fourth quarter. Coldstream Capital Management Inc. now owns 2,001 shares of the industrial products company’s stock valued at $922,000 after purchasing an additional 94 shares in the last quarter. Clearbridge Investments LLC lifted its position in shares of Parker-Hannifin by 122.3% in the fourth quarter. Clearbridge Investments LLC now owns 2,001 shares of the industrial products company’s stock worth $922,000 after buying an additional 1,101 shares in the last quarter. Finally, Sachetta LLC bought a new position in Parker-Hannifin during the fourth quarter valued at approximately $25,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Up 0.6 %

Shares of PH opened at $608.97 on Thursday. The firm has a fifty day moving average price of $567.55 and a 200-day moving average price of $546.47. 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 firm has a market capitalization of $78.28 billion, a P/E ratio of 28.70, a P/E/G ratio of 2.39 and a beta of 1.43. Parker-Hannifin Co. has a 12-month low of $362.49 and a 12-month high of $619.86.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data 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. Parker-Hannifin had a net margin of 14.27% and a return on equity of 29.08%. The company had revenue of $5.19 billion during the quarter, compared to analysts’ expectations of $5.08 billion. During the same period in the previous year, the company earned $6.08 EPS. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. Equities research analysts expect that Parker-Hannifin Co. will post 26.63 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Wednesday, August 28th were given a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.07%. The ex-dividend date of this dividend was Wednesday, August 28th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 30.73%.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on PH. Stifel Nicolaus decreased their price objective on Parker-Hannifin from $629.00 to $613.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Evercore ISI boosted their target price on shares of Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. Robert W. Baird increased their price target on shares of Parker-Hannifin from $622.00 to $654.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Barclays reduced their price objective on Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating on the stock in a research note on Tuesday, June 4th. Finally, Truist Financial reaffirmed a “buy” rating and issued a $673.00 price objective (up from $621.00) on shares of Parker-Hannifin in a research note on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $624.43.

Insiders Place Their Bets

In other news, Director Joseph Scaminace sold 1,751 shares of the firm’s stock in a transaction on 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 transaction, the director now owns 3,900 shares in the company, valued at $2,299,947. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of the company’s stock in a transaction 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 completion of the sale, the vice president now owns 3,350 shares in the company, valued at $1,986,282. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, 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 directly owns 3,900 shares in the company, valued at approximately $2,299,947. The disclosure for this sale can be found here. 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.