Cyrus J. Lawrence LLC bought a new position in shares of Parker-Hannifin Co. (NYSE:PH – Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 14,321 shares of the industrial products company’s stock, valued at approximately $7,243,000.
A number of other large investors have also recently made changes to their positions in the stock. Addison Advisors LLC bought a new stake in shares of Parker-Hannifin during the second quarter valued at approximately $25,000. Harbor Investment Advisory LLC boosted its stake 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 valued at $29,000 after purchasing an additional 20 shares in the last quarter. Newbridge Financial Services Group Inc. purchased a new position 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 worth approximately $31,000. Finally, Fortitude Family Office LLC increased its holdings in shares of Parker-Hannifin by 346.7% in the 2nd quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company’s stock valued at $34,000 after acquiring an additional 52 shares during the period. 82.44% of the stock is owned by hedge funds and other institutional investors.
Parker-Hannifin Stock Down 0.4 %
NYSE:PH opened at $623.77 on Monday. 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’s fifty day moving average price is $571.23 and its 200-day moving average price is $547.89. Parker-Hannifin Co. has a 1-year low of $362.49 and a 1-year high of $627.30. The firm has a market capitalization of $80.18 billion, a P/E ratio of 29.40, a PEG ratio of 2.42 and a beta of 1.43.
Parker-Hannifin Dividend Announcement
The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Wednesday, August 28th were given a $1.63 dividend. The ex-dividend date was Wednesday, August 28th. This represents a $6.52 annualized dividend and a yield of 1.05%. Parker-Hannifin’s dividend payout ratio is presently 30.73%.
Wall Street Analyst Weigh In
A number of brokerages have commented on PH. Wells Fargo & Company boosted their target price on shares of Parker-Hannifin from $600.00 to $640.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. 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 report on Friday, August 9th. TD Cowen raised their price objective on Parker-Hannifin from $500.00 to $520.00 and gave the stock a “hold” rating in a research report on Wednesday, September 11th. Barclays reduced their target price on Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 4th. Finally, Evercore ISI raised their price target on Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. Two research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat.com, Parker-Hannifin has a consensus rating of “Moderate Buy” and a consensus target price of $624.43.
Read Our Latest Research Report on PH
Insider Transactions at Parker-Hannifin
In related news, VP Berend Bracht sold 850 shares of the business’s 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 completion of the transaction, the vice president now directly owns 3,350 shares in the company, valued at approximately $1,986,282. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, Director Joseph Scaminace sold 1,751 shares of the company’s 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 completion of the transaction, the director now directly owns 3,900 shares of the company’s stock, valued at approximately $2,299,947. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Berend Bracht sold 850 shares of Parker-Hannifin stock in a transaction 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 in the company, valued at approximately $1,986,282. The disclosure for this sale can be found here. Corporate insiders own 1.03% of the company’s stock.
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.
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