Ieq Capital LLC Has $4.09 Million Stake in Parker-Hannifin Co. (NYSE:PH)

Ieq Capital LLC lifted its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 29.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 8,092 shares of the industrial products company’s stock after purchasing an additional 1,848 shares during the quarter. Ieq Capital LLC’s holdings in Parker-Hannifin were worth $4,093,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Addison Advisors LLC acquired a new stake in Parker-Hannifin during the 2nd quarter worth approximately $25,000. Harbor Investment Advisory LLC raised its holdings 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 worth $29,000 after acquiring an additional 20 shares during the period. Newbridge Financial Services Group Inc. bought a new stake in Parker-Hannifin in the 4th quarter valued at $30,000. Northwest Investment Counselors LLC acquired a new position in Parker-Hannifin in the 1st quarter worth $31,000. Finally, Fortitude Family Office LLC boosted its stake in Parker-Hannifin by 346.7% in the 2nd quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company’s stock worth $34,000 after purchasing an additional 52 shares during the period. Institutional investors own 82.44% of the company’s stock.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of the 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 directly 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 can be accessed through this hyperlink. 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 value of $503,982.00. Following the transaction, the vice president now directly owns 3,350 shares of the company’s stock, valued at approximately $1,986,282. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. 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 directly 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.

Wall Street Analysts Forecast Growth

PH has been the topic of a number of research reports. Raymond James boosted 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 upped their price target for the stock from $550.00 to $650.00 in a research report on Tuesday, May 28th. Truist Financial reaffirmed a “buy” rating and set a $673.00 price target (up from $621.00) on shares of Parker-Hannifin in a research note on Friday, August 9th. TD Cowen boosted their price objective on shares of Parker-Hannifin from $500.00 to $520.00 and gave the stock a “hold” rating in a research report on Wednesday, September 11th. Finally, Wells Fargo & Company raised their target price on shares of Parker-Hannifin from $600.00 to $640.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $624.43.

Parker-Hannifin Trading Down 0.3 %

Shares of NYSE:PH opened at $623.96 on Friday. The company has a 50-day simple moving average of $571.23 and a 200 day simple moving average of $547.64. The company has a market capitalization of $80.24 billion, a P/E ratio of 29.40, a price-to-earnings-growth ratio of 2.42 and a beta of 1.43. 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 Co. has a 52-week low of $362.49 and a 52-week high of $627.30.

Parker-Hannifin (NYSE:PH) last issued its earnings results on Thursday, August 8th. The industrial products company reported $6.77 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 company had revenue of $5.19 billion during the quarter, compared to the consensus estimate of $5.08 billion. During the same period in the previous year, the company posted $6.08 EPS. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. Sell-side analysts forecast that Parker-Hannifin Co. will post 26.63 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

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

About Parker-Hannifin

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.