Intech Investment Management LLC Has $6.70 Million Stock Position in Parker-Hannifin Co. (NYSE:PH)

Intech Investment Management LLC lifted its position in shares of Parker-Hannifin Co. (NYSE:PH) by 17.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 13,251 shares of the industrial products company’s stock after purchasing an additional 1,932 shares during the quarter. Intech Investment Management LLC’s holdings in Parker-Hannifin were worth $6,702,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also modified their holdings of PH. Vanguard Group Inc. raised its position in Parker-Hannifin by 1.0% in the first quarter. Vanguard Group Inc. now owns 10,566,391 shares of the industrial products company’s stock worth $5,872,694,000 after purchasing an additional 105,475 shares in the last quarter. Boston Partners raised its holdings in shares of Parker-Hannifin by 4.1% in the 1st quarter. Boston Partners now owns 1,111,720 shares of the industrial products company’s stock worth $617,878,000 after buying an additional 43,535 shares in the last quarter. AMF Tjanstepension AB lifted its position in shares of Parker-Hannifin by 23.0% during the 2nd quarter. AMF Tjanstepension AB now owns 758,262 shares of the industrial products company’s stock worth $383,594,000 after buying an additional 141,862 shares during the period. Baird Financial Group Inc. boosted its stake in Parker-Hannifin by 3.7% in the 4th quarter. Baird Financial Group Inc. now owns 694,970 shares of the industrial products company’s stock valued at $320,173,000 after buying an additional 25,060 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its position in Parker-Hannifin by 18.1% in the second quarter. Envestnet Asset Management Inc. now owns 652,539 shares of the industrial products company’s stock valued at $330,061,000 after acquiring an additional 99,959 shares during the period. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Trading Down 0.4 %

Shares of PH opened at $623.77 on Friday. The stock’s fifty day simple moving average is $571.23 and its 200-day simple moving average is $547.78. The firm has a market capitalization of $80.18 billion, a PE ratio of 29.40, a price-to-earnings-growth ratio of 2.42 and a beta of 1.43. Parker-Hannifin Co. has a 12-month low of $362.49 and a 12-month high of $627.30. 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 released its earnings results on Thursday, August 8th. The industrial products company reported $6.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $6.22 by $0.55. Parker-Hannifin had a net margin of 14.27% and a return on equity of 29.08%. The company had revenue of $5.19 billion for the quarter, compared to the consensus estimate of $5.08 billion. During the same period in the prior year, the company posted $6.08 EPS. The company’s revenue was up 1.8% compared to the same quarter last year. As a group, research 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. Shareholders of record on Wednesday, August 28th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.05%. The ex-dividend date was Wednesday, August 28th. Parker-Hannifin’s payout ratio is 30.73%.

Insider Activity

In related news, VP Berend Bracht sold 850 shares of Parker-Hannifin stock in a transaction on Monday, August 26th. The stock was sold at an average price of $592.92, for a total transaction of $503,982.00. Following the completion of the sale, the vice president now directly owns 3,350 shares of the company’s stock, valued at $1,986,282. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, Director Joseph Scaminace sold 1,751 shares of Parker-Hannifin stock in a transaction that occurred on 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 transaction, the director now 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Berend Bracht sold 850 shares of the company’s 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 completion of the sale, the vice president now directly owns 3,350 shares of the company’s stock, valued at approximately $1,986,282. The disclosure for this sale can be found here. 1.03% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

PH has been the topic of several recent analyst reports. Evercore ISI boosted their target price on shares of Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Barclays cut their target price on shares of Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating for the company in a research note on Tuesday, June 4th. Wells Fargo & Company increased their price target on Parker-Hannifin from $600.00 to $640.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Finally, Mizuho raised Parker-Hannifin from a “neutral” rating to a “buy” rating and raised their price target for the company from $550.00 to $650.00 in a report on Tuesday, May 28th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target 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.