Summit Trail Advisors LLC Sells 263 Shares of Parker-Hannifin Co. (NYSE:PH)

Summit Trail Advisors LLC trimmed its holdings in Parker-Hannifin Co. (NYSE:PH) by 13.9% in the 2nd quarter, according to its most recent filing with the SEC. The institutional investor owned 1,624 shares of the industrial products company’s stock after selling 263 shares during the quarter. Summit Trail Advisors LLC’s holdings in Parker-Hannifin were worth $822,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. TD Asset Management Inc grew its stake in shares of Parker-Hannifin by 152.1% in the first quarter. TD Asset Management Inc now owns 132,231 shares of the industrial products company’s stock worth $73,493,000 after acquiring an additional 79,774 shares during the period. Daiwa Securities Group Inc. grew its position in Parker-Hannifin by 8.5% in the 1st quarter. Daiwa Securities Group Inc. now owns 22,960 shares of the industrial products company’s stock worth $12,761,000 after purchasing an additional 1,802 shares during the period. Quadrature Capital Ltd purchased a new stake in Parker-Hannifin during the 4th quarter valued at $4,068,000. Concurrent Investment Advisors LLC raised its stake in Parker-Hannifin by 261.4% during the 1st quarter. Concurrent Investment Advisors LLC now owns 2,515 shares of the industrial products company’s stock valued at $1,397,000 after buying an additional 1,819 shares during the last quarter. Finally, Lockheed Martin Investment Management Co. lifted its holdings in shares of Parker-Hannifin by 18.1% during the 4th quarter. Lockheed Martin Investment Management Co. now owns 56,070 shares of the industrial products company’s stock valued at $25,831,000 after buying an additional 8,600 shares during the period. 82.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

PH has been the subject of a number of research reports. Stifel Nicolaus reduced their price objective on Parker-Hannifin from $629.00 to $613.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Barclays reduced their price target on shares of Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating for the company in a research report on Tuesday, June 4th. Evercore ISI raised their price objective on shares of Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. Mizuho raised shares of Parker-Hannifin from a “neutral” rating to a “buy” rating and upped their target price for the company from $550.00 to $650.00 in a report on Tuesday, May 28th. Finally, Truist Financial reiterated a “buy” rating and set a $673.00 price target (up previously from $621.00) on shares of Parker-Hannifin in a research note on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus price target of $624.43.

Parker-Hannifin Stock Down 0.4 %

NYSE PH opened at $623.77 on Monday. The company has a current ratio of 0.93, a quick ratio of 0.55 and a debt-to-equity ratio of 0.59. Parker-Hannifin Co. has a 12 month low of $362.49 and a 12 month high of $627.30. The stock’s 50 day moving average is $571.23 and its 200 day moving average is $547.89. 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.

Parker-Hannifin (NYSE:PH) last issued its 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. The firm had revenue of $5.19 billion during the quarter, compared to analyst estimates of $5.08 billion. Parker-Hannifin had a net margin of 14.27% and a return on equity of 29.08%. Parker-Hannifin’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $6.08 earnings per share. Research analysts predict that Parker-Hannifin Co. will post 26.63 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders 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 annualized dividend and a dividend yield of 1.05%. Parker-Hannifin’s dividend payout ratio (DPR) is 30.73%.

Insider Buying and Selling

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

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.