Benjamin F. Edwards & Company Inc. Raises Stake in Parker-Hannifin Co. (NYSE:PH)

Benjamin F. Edwards & Company Inc. boosted its stake in Parker-Hannifin Co. (NYSE:PH) by 20.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,268 shares of the industrial products company’s stock after purchasing an additional 556 shares during the quarter. Benjamin F. Edwards & Company Inc.’s holdings in Parker-Hannifin were worth $1,653,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Addison Advisors LLC bought a new position in Parker-Hannifin in the 2nd quarter worth about $25,000. Harbor Investment Advisory LLC raised its stake in Parker-Hannifin by 60.6% in the first quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 20 shares in the last quarter. Newbridge Financial Services Group Inc. bought a new stake in Parker-Hannifin during the fourth quarter valued at approximately $30,000. Northwest Investment Counselors LLC bought a new position in Parker-Hannifin in the first quarter valued at $31,000. Finally, Fortitude Family Office LLC raised its position in Parker-Hannifin by 346.7% during 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. 82.44% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Parker-Hannifin

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

Parker-Hannifin Stock Down 0.4 %

PH stock opened at $623.77 on Monday. The company has a market capitalization of $80.18 billion, a price-to-earnings 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. The business’s 50 day moving average price is $571.23 and its two-hundred day moving average price is $547.89. Parker-Hannifin Co. has a fifty-two week low of $362.49 and a fifty-two week high of $627.30.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, August 8th. The industrial products company reported $6.77 EPS for the quarter, beating the consensus estimate of $6.22 by $0.55. The business had revenue of $5.19 billion during the quarter, compared to analyst estimates of $5.08 billion. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. The company’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter last year, the firm posted $6.08 earnings per share. As a group, analysts forecast that Parker-Hannifin Co. will post 26.63 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The business 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 was Wednesday, August 28th. This represents a $6.52 annualized dividend and a dividend yield of 1.05%. Parker-Hannifin’s payout ratio is currently 30.73%.

Wall Street Analyst Weigh In

A number of analysts recently weighed in on PH shares. Robert W. Baird boosted their target price on Parker-Hannifin from $622.00 to $654.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Mizuho raised shares of Parker-Hannifin from a “neutral” rating to a “buy” rating and boosted their price target for the stock from $550.00 to $650.00 in a research note on Tuesday, May 28th. Deutsche Bank Aktiengesellschaft raised their price objective on Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Stifel Nicolaus dropped their target price on Parker-Hannifin from $629.00 to $613.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Finally, Wells Fargo & Company lifted their price target on Parker-Hannifin from $600.00 to $640.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus 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.