Parker-Hannifin Co. (NYSE:PH) Shares Sold by Amalgamated Bank

Amalgamated Bank trimmed its holdings in Parker-Hannifin Co. (NYSE:PH) by 1.8% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,932 shares of the industrial products company’s stock after selling 485 shares during the quarter. Amalgamated Bank’s holdings in Parker-Hannifin were worth $13,117,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in PH. Addison Advisors LLC bought a new stake in shares of Parker-Hannifin during the 2nd quarter worth about $25,000. Harbor Investment Advisory LLC increased its stake in shares of Parker-Hannifin by 60.6% during the first quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 20 shares during the period. Sachetta LLC bought a new stake in Parker-Hannifin during the fourth quarter worth approximately $25,000. Northwest Investment Counselors LLC acquired a new stake in Parker-Hannifin in the first quarter worth approximately $31,000. Finally, Newbridge Financial Services Group Inc. bought a new position in Parker-Hannifin during the fourth quarter valued at about $30,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Stock Up 0.6 %

Parker-Hannifin stock opened at $608.97 on Thursday. Parker-Hannifin Co. has a twelve month low of $362.49 and a twelve month high of $619.86. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.55 and a current ratio of 0.93. The firm has a market cap of $78.28 billion, a PE ratio of 28.70, a P/E/G ratio of 2.39 and a beta of 1.43. The firm’s 50 day moving average price is $567.55 and its two-hundred day moving average price is $546.47.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, August 8th. The industrial products company reported $6.77 earnings per share for the quarter, topping analysts’ consensus estimates of $6.22 by $0.55. The business had revenue of $5.19 billion for the quarter, compared to the consensus estimate of $5.08 billion. Parker-Hannifin had a net margin of 14.27% and a return on equity of 29.08%. Parker-Hannifin’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the prior year, the business posted $6.08 earnings per share. On average, research analysts predict that Parker-Hannifin Co. will post 26.63 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Wednesday, August 28th were paid a $1.63 dividend. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $6.52 annualized dividend and a dividend yield of 1.07%. Parker-Hannifin’s payout ratio is 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 value of $503,982.00. Following the completion of the sale, the vice president now directly owns 3,350 shares in the company, valued at $1,986,282. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of the firm’s 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 transaction, the vice president now directly owns 3,350 shares in the company, valued at $1,986,282. The transaction was disclosed in a filing with the SEC, which is available through this link. 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 value of $1,032,617.23. Following the sale, the director now owns 3,900 shares of the company’s stock, valued at approximately $2,299,947. The disclosure for this sale can be found here. 1.03% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of analysts recently commented on the stock. TD Cowen boosted their target price on shares of Parker-Hannifin from $500.00 to $520.00 and gave the stock a “hold” rating in a report on Wednesday, September 11th. Raymond James upped their price target on Parker-Hannifin from $610.00 to $650.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. Mizuho raised Parker-Hannifin from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $550.00 to $650.00 in a research note on Tuesday, May 28th. Robert W. Baird lifted their target price on Parker-Hannifin from $622.00 to $654.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating 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 company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target 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.