Quarry LP Boosts Position in Parker-Hannifin Co. (NYSE:PH)

Quarry LP boosted its position in shares of Parker-Hannifin Co. (NYSE:PH) by 293.7% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 437 shares of the industrial products company’s stock after purchasing an additional 326 shares during the quarter. Quarry LP’s holdings in Parker-Hannifin were worth $221,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Addison Advisors LLC purchased a new stake in Parker-Hannifin during the second quarter worth $25,000. Harbor Investment Advisory LLC boosted its position in Parker-Hannifin by 60.6% during the first quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 20 shares in the last quarter. Newbridge Financial Services Group Inc. acquired a new position in shares of Parker-Hannifin in the fourth quarter worth $30,000. Northwest Investment Counselors LLC acquired a new position in shares of Parker-Hannifin in the first quarter worth $31,000. Finally, Fortitude Family Office LLC raised its holdings in shares of Parker-Hannifin by 346.7% in the second quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company’s stock worth $34,000 after acquiring an additional 52 shares during the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

PH has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft boosted their price target on Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Stifel Nicolaus cut their price target on Parker-Hannifin from $629.00 to $613.00 and set a “buy” rating for the company in a report on Thursday, July 18th. TD Cowen boosted their price target on Parker-Hannifin from $500.00 to $520.00 and gave the stock a “hold” rating in a report on Wednesday, September 11th. Evercore ISI boosted 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. Finally, Wells Fargo & Company boosted their price target on Parker-Hannifin from $600.00 to $640.00 and gave the stock an “overweight” rating in a report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $624.43.

Insider Buying and Selling at Parker-Hannifin

In other news, Director Joseph Scaminace sold 1,751 shares of the company’s stock in a transaction dated 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 sale, the director now owns 3,900 shares of the company’s stock, valued at $2,299,947. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, VP Berend Bracht sold 850 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $592.92, for a total value of $503,982.00. Following the completion of the sale, the vice president now owns 3,350 shares of the company’s stock, valued at $1,986,282. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Joseph Scaminace sold 1,751 shares of the company’s stock in a transaction dated 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 sale, the director now directly owns 3,900 shares of the company’s stock, valued at approximately $2,299,947. The disclosure for this sale can be found here. 1.03% of the stock is owned by company insiders.

Parker-Hannifin Price Performance

PH stock opened at $631.82 on Tuesday. The stock has a 50-day moving average price of $580.24 and a two-hundred day moving average price of $551.69. Parker-Hannifin Co. has a 12-month low of $362.49 and a 12-month high of $639.87. The company has a current ratio of 0.93, a quick ratio of 0.55 and a debt-to-equity ratio of 0.59. The company has a market cap of $81.21 billion, a PE ratio of 29.77, a price-to-earnings-growth ratio of 2.54 and a beta of 1.43.

Parker-Hannifin (NYSE:PH) last posted its quarterly 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 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 the consensus estimate of $5.08 billion. During the same quarter in the previous year, the business earned $6.08 earnings per share. The firm’s quarterly 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 EPS for the current year.

Parker-Hannifin Announces Dividend

The company also recently declared 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 dividend on an annualized basis and a yield of 1.03%. The ex-dividend date of this dividend was Wednesday, August 28th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 30.73%.

Parker-Hannifin Company 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.