Vanguard Personalized Indexing Management LLC Grows Position in Parker-Hannifin Co. (NYSE:PH)

Vanguard Personalized Indexing Management LLC lifted its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 13.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 10,233 shares of the industrial products company’s stock after purchasing an additional 1,196 shares during the quarter. Vanguard Personalized Indexing Management LLC’s holdings in Parker-Hannifin were worth $5,176,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Kodai Capital Management LP purchased a new stake in shares of Parker-Hannifin during the 4th quarter valued at $122,449,000. 1832 Asset Management L.P. raised its position in 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 purchasing an additional 231,788 shares in the last quarter. AMF Tjanstepension AB lifted its stake in Parker-Hannifin by 23.0% during the second quarter. AMF Tjanstepension AB now owns 758,262 shares of the industrial products company’s stock worth $383,594,000 after purchasing an additional 141,862 shares during the last quarter. Groupama Asset Managment bought a new stake in Parker-Hannifin during the fourth quarter worth about $63,043,000. Finally, Congress Asset Management Co. MA boosted its holdings in shares of Parker-Hannifin by 503.9% in the 1st quarter. Congress Asset Management Co. MA now owns 156,196 shares of the industrial products company’s stock worth $86,812,000 after purchasing an additional 130,331 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of the company’s stock in a transaction dated 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 in the company, valued at $2,299,947. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In related 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 owns 3,350 shares in the company, valued at approximately $1,986,282. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Joseph Scaminace sold 1,751 shares of the firm’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $589.73, for a total transaction 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 disclosure for this sale can be found here. 1.03% of the stock is currently owned by corporate insiders.

Parker-Hannifin Price Performance

PH stock opened at $608.97 on Thursday. The firm has a 50-day moving average of $567.55 and a 200 day moving average of $546.47. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.93 and a quick ratio of 0.55. The company has a market cap of $78.28 billion, a P/E ratio of 28.70, a PEG ratio of 2.39 and a beta of 1.43. Parker-Hannifin Co. has a 1 year low of $362.49 and a 1 year high of $619.86.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, August 8th. The industrial products company reported $6.77 EPS for the quarter, beating analysts’ consensus estimates of $6.22 by $0.55. The company had revenue of $5.19 billion during the quarter, compared to analysts’ expectations of $5.08 billion. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter last year, the business posted $6.08 EPS. On average, sell-side analysts forecast that Parker-Hannifin Co. will post 26.63 EPS for the current year.

Parker-Hannifin Dividend Announcement

The firm 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%.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PH. TD Cowen boosted their target price on Parker-Hannifin from $500.00 to $520.00 and gave the stock a “hold” rating in a research report on Wednesday, September 11th. Mizuho upgraded shares of Parker-Hannifin from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $550.00 to $650.00 in a report on Tuesday, May 28th. Robert W. Baird increased their target price 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. Wells Fargo & Company raised their price objective on Parker-Hannifin from $600.00 to $640.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Finally, Barclays lowered their target price on Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating for the company in a research note on Tuesday, June 4th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $624.43.

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.