393 Shares in Parker-Hannifin Co. (NYSE:PH) Purchased by Apella Capital LLC

Apella Capital LLC bought a new stake in Parker-Hannifin Co. (NYSE:PH) during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 393 shares of the industrial products company’s stock, valued at approximately $247,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of PH. Vanguard Group Inc. lifted its stake in shares of Parker-Hannifin by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 10,566,391 shares of the industrial products company’s stock valued at $5,872,694,000 after buying an additional 105,475 shares in the last quarter. Boston Partners boosted its holdings in shares of Parker-Hannifin by 4.1% in the first quarter. Boston Partners now owns 1,111,720 shares of the industrial products company’s stock worth $617,878,000 after acquiring an additional 43,535 shares during the period. Legal & General Group Plc grew its position in shares of Parker-Hannifin by 1.3% in the second quarter. Legal & General Group Plc now owns 985,280 shares of the industrial products company’s stock valued at $498,366,000 after purchasing an additional 12,615 shares in the last quarter. AMF Tjanstepension AB raised its stake in shares of Parker-Hannifin by 23.0% during the 2nd quarter. AMF Tjanstepension AB now owns 758,262 shares of the industrial products company’s stock valued at $383,594,000 after purchasing an additional 141,862 shares during the period. Finally, Bank of Montreal Can lifted its holdings in Parker-Hannifin by 11.6% during the 2nd quarter. Bank of Montreal Can now owns 735,755 shares of the industrial products company’s stock worth $378,572,000 after purchasing an additional 76,629 shares in the last quarter. 82.44% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. StockNews.com upgraded shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a research note on Wednesday. Wells Fargo & Company upped their target price on Parker-Hannifin from $600.00 to $640.00 and gave the stock an “overweight” rating in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft lifted their price target on Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a research report on Friday, August 9th. TD Cowen boosted their price target on shares of Parker-Hannifin from $500.00 to $520.00 and gave the stock a “hold” rating in a research note on Wednesday, September 11th. Finally, Robert W. Baird increased their target price on Parker-Hannifin from $622.00 to $654.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company. According to MarketBeat.com, Parker-Hannifin has an average rating of “Moderate Buy” and an average price target of $636.64.

Insider Activity

In other news, Director Joseph Scaminace sold 1,751 shares of the 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 owns 3,900 shares of the company’s stock, valued at approximately $2,299,947. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were 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 directly owns 3,900 shares in the company, valued at approximately $2,299,947. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, VP Berend Bracht sold 850 shares of the stock in a transaction that occurred 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 sale, the vice president now directly owns 3,350 shares of the company’s stock, valued at $1,986,282. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.03% of the company’s stock.

Parker-Hannifin Price Performance

Shares of NYSE:PH traded up $4.37 on Friday, reaching $630.68. The company’s stock had a trading volume of 291,993 shares, compared to its average volume of 647,478. The company has a 50-day simple moving average of $586.92 and a 200 day simple moving average of $554.05. Parker-Hannifin Co. has a 52-week low of $362.49 and a 52-week high of $639.87. 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 company has a market cap of $81.07 billion, a P/E ratio of 29.72, a PEG ratio of 2.57 and a beta of 1.43.

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

Parker-Hannifin Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders 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 dividend yield of 1.03%. The ex-dividend date 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.