Ameritas Investment Partners Inc. Has $4.47 Million Holdings in Parker-Hannifin Co. (NYSE:PH)

Ameritas Investment Partners Inc. boosted its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 0.3% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,830 shares of the industrial products company’s stock after purchasing an additional 24 shares during the period. Ameritas Investment Partners Inc.’s holdings in Parker-Hannifin were worth $4,466,000 as of its most recent SEC filing.

Several other institutional investors have also recently bought and sold shares of PH. Addison Advisors LLC bought a new position in shares of Parker-Hannifin in the second quarter valued at about $25,000. Harbor Investment Advisory LLC raised its stake in shares of Parker-Hannifin by 60.6% in the first quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 20 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new position in shares of Parker-Hannifin during the fourth quarter worth approximately $30,000. Northwest Investment Counselors LLC bought a new stake in shares of Parker-Hannifin during the first quarter valued at approximately $31,000. Finally, Fortitude Family Office LLC increased its holdings in shares of Parker-Hannifin by 346.7% in the second quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company’s stock valued at $34,000 after purchasing an additional 52 shares in the last quarter. Institutional investors own 82.44% of the company’s stock.

Analysts Set New Price Targets

PH has been the topic of several research reports. Truist Financial reaffirmed a “buy” rating and set a $673.00 price objective (up previously from $621.00) on shares of Parker-Hannifin in a report on Friday, August 9th. Robert W. Baird lifted their target price on shares of Parker-Hannifin from $622.00 to $654.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Evercore ISI upped their target price on shares of Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. Raymond James lifted their price objective on Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. Finally, Deutsche Bank Aktiengesellschaft increased their target price on Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $624.43.

Parker-Hannifin Trading Down 0.3 %

Shares of PH stock opened at $623.96 on Friday. Parker-Hannifin Co. has a 12-month low of $362.49 and a 12-month high of $627.30. The company has a market capitalization of $80.24 billion, a PE ratio of 29.40, a price-to-earnings-growth ratio of 2.42 and a beta of 1.43. The firm has a 50 day moving average price of $571.23 and a two-hundred day moving average price of $547.64. The company has a quick ratio of 0.55, a current ratio of 0.93 and a debt-to-equity ratio of 0.59.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data 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. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. The firm had revenue of $5.19 billion for the quarter, compared to analyst estimates of $5.08 billion. During the same period in the prior year, the firm posted $6.08 EPS. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. As a group, analysts predict that Parker-Hannifin Co. will post 26.63 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Wednesday, August 28th were issued a dividend of $1.63 per share. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $6.52 annualized dividend and a dividend yield of 1.04%. Parker-Hannifin’s dividend payout ratio is presently 30.73%.

Insider Activity

In related news, Director Joseph Scaminace sold 1,751 shares of the stock in a transaction that occurred 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 sale, the director now owns 3,900 shares of the company’s stock, valued at $2,299,947. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Joseph Scaminace sold 1,751 shares of the 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 sale, the director now directly owns 3,900 shares of the company’s stock, valued at approximately $2,299,947. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Berend Bracht sold 850 shares of the firm’s stock in a transaction 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 owns 3,350 shares in the company, valued at approximately $1,986,282. The disclosure for this sale can be found here. 1.03% of the stock is owned by company 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.