Parker-Hannifin Co. (NYSE:PH) Shares Bought by Fidelis Capital Partners LLC

Fidelis Capital Partners LLC lifted its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 6.6% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 906 shares of the industrial products company’s stock after acquiring an additional 56 shares during the period. Fidelis Capital Partners LLC’s holdings in Parker-Hannifin were worth $464,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in PH. Frank Rimerman Advisors LLC acquired a new stake in shares of Parker-Hannifin during the 2nd quarter worth about $1,589,000. Holderness Investments Co. lifted its stake in shares of Parker-Hannifin by 5.2% during the second quarter. Holderness Investments Co. now owns 807 shares of the industrial products company’s stock valued at $408,000 after buying an additional 40 shares during the period. ProShare Advisors LLC boosted its position in Parker-Hannifin by 7.0% during the second quarter. ProShare Advisors LLC now owns 20,137 shares of the industrial products company’s stock worth $10,185,000 after acquiring an additional 1,323 shares during the last quarter. Kowal Investment Group LLC acquired a new position in Parker-Hannifin in the 2nd quarter valued at $837,000. Finally, Avalon Global Asset Management LLC lifted its stake in shares of Parker-Hannifin by 0.8% during the 2nd quarter. Avalon Global Asset Management LLC now owns 13,100 shares of the industrial products company’s stock worth $6,626,000 after purchasing an additional 100 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Trading Down 0.4 %

Shares of 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. Parker-Hannifin Co. has a 12 month low of $362.49 and a 12 month high of $627.30. The stock has a market cap of $80.18 billion, a PE ratio of 29.40, a P/E/G ratio of 2.42 and a beta of 1.43. The stock’s 50-day moving average is $571.23 and its two-hundred day moving average is $547.89.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, August 8th. The industrial products company reported $6.77 earnings per share for the quarter, topping 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 during the quarter, compared to analysts’ expectations of $5.08 billion. During the same quarter in the prior year, the business earned $6.08 EPS. Parker-Hannifin’s quarterly revenue was up 1.8% compared to the same quarter last year. Equities analysts forecast that Parker-Hannifin Co. will post 26.63 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Wednesday, August 28th were issued a $1.63 dividend. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $6.52 dividend on an annualized basis and a yield of 1.05%. Parker-Hannifin’s dividend payout ratio is currently 30.73%.

Insider Buying and Selling at Parker-Hannifin

In other news, VP Berend Bracht sold 850 shares of Parker-Hannifin stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $592.92, for a total transaction of $503,982.00. Following 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 filing with the SEC, which can be accessed through this hyperlink. In other Parker-Hannifin news, 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 transaction of $503,982.00. Following 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 legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 transaction, the director now directly owns 3,900 shares of the company’s stock, valued at $2,299,947. The disclosure for this sale can be found here. 1.03% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. TD Cowen lifted their price objective on Parker-Hannifin from $500.00 to $520.00 and gave the company a “hold” rating in a research report on Wednesday, September 11th. Stifel Nicolaus cut their price objective on shares of Parker-Hannifin from $629.00 to $613.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Barclays lowered their target price on shares of Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating for the company in a report on Tuesday, June 4th. Wells Fargo & Company increased their price target on shares of Parker-Hannifin from $600.00 to $640.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Finally, Evercore ISI upped their price objective on Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and an average price target of $624.43.

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.