Middleton & Co. Inc. MA Has $384,000 Holdings in Parker-Hannifin Co. (NYSE:PH)

Middleton & Co. Inc. MA decreased its holdings in Parker-Hannifin Co. (NYSE:PH) by 3.2% in the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 760 shares of the industrial products company’s stock after selling 25 shares during the quarter. Middleton & Co. Inc. MA’s holdings in Parker-Hannifin were worth $384,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently bought and sold shares of PH. Sachetta LLC acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at approximately $25,000. Addison Advisors LLC acquired a new position in Parker-Hannifin during the second quarter worth about $25,000. Harbor Investment Advisory LLC lifted its stake in Parker-Hannifin by 60.6% in the 1st quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 20 shares during the last quarter. Newbridge Financial Services Group Inc. bought a new position in Parker-Hannifin in the fourth quarter valued at about $30,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Parker-Hannifin during the first quarter worth $31,000. Institutional investors own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on PH shares. Barclays lowered their price target on shares of Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating for the company in a report on Tuesday, June 4th. Stifel Nicolaus lowered their price objective on Parker-Hannifin from $629.00 to $613.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Raymond James increased their price target on Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, Robert W. Baird raised their target price on Parker-Hannifin from $622.00 to $654.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $624.43.

Parker-Hannifin Stock Performance

Shares of PH opened at $608.97 on Thursday. 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 52 week low of $362.49 and a 52 week high of $619.86. The stock has a 50 day moving average price of $567.55 and a two-hundred day moving average price of $546.47. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.55 and a current ratio of 0.93.

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, 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 quarter in the prior year, the company posted $6.08 earnings per share. Parker-Hannifin’s revenue was up 1.8% compared to the same quarter last year. Equities analysts forecast that Parker-Hannifin Co. will post 26.63 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors 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 dividend yield of 1.07%. The ex-dividend date was Wednesday, August 28th. Parker-Hannifin’s payout ratio is currently 30.73%.

Insider Buying and Selling

In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of Parker-Hannifin stock in a transaction that occurred 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 transaction, the vice president now owns 3,350 shares of the company’s stock, valued at approximately $1,986,282. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, VP Berend Bracht sold 850 shares of the company’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 transaction, the vice president now directly owns 3,350 shares of the company’s stock, valued at $1,986,282. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Joseph Scaminace sold 1,751 shares of Parker-Hannifin 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 sale, the director now owns 3,900 shares in the company, valued at $2,299,947. 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.