Smith Anglin Financial LLC Takes $236,000 Position in Parker-Hannifin Co. (NYSE:PH)

Smith Anglin Financial LLC acquired a new position in shares of Parker-Hannifin Co. (NYSE:PH) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 374 shares of the industrial products company’s stock, valued at approximately $236,000.

Other institutional investors also recently modified their holdings of the company. Addison Advisors LLC bought a new position in Parker-Hannifin during the second quarter valued at $25,000. Harbor Investment Advisory LLC boosted its holdings in shares of Parker-Hannifin by 60.6% in the first quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock worth $29,000 after acquiring an additional 20 shares during the period. Newbridge Financial Services Group Inc. bought a new position in shares of Parker-Hannifin in the fourth quarter worth $30,000. Northwest Investment Counselors LLC bought a new position in shares of Parker-Hannifin in the first quarter worth $31,000. Finally, Fortitude Family Office LLC boosted 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 period. 82.44% of the stock is owned by institutional investors.

Insider Activity at Parker-Hannifin

In other news, VP Berend Bracht sold 850 shares of the firm’s 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 completion of the sale, the vice president now directly owns 3,350 shares of the company’s stock, valued at $1,986,282. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, Director Joseph Scaminace sold 1,751 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $589.73, for a total transaction of $1,032,617.23. Following the sale, the director now directly owns 3,900 shares of the company’s stock, valued at $2,299,947. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Berend Bracht sold 850 shares of the stock in a transaction 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 sale, the vice president now owns 3,350 shares in the company, valued at approximately $1,986,282. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 1.03% of the stock is owned by insiders.

Parker-Hannifin Price Performance

NYSE:PH opened at $630.14 on Tuesday. 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 firm has a market cap of $81.08 billion, a price-to-earnings ratio of 29.70, a price-to-earnings-growth ratio of 2.55 and a beta of 1.43. The company has a 50 day moving average price of $586.92 and a 200-day moving average price of $554.21. Parker-Hannifin Co. has a 1-year low of $362.49 and a 1-year high of $639.87.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, August 8th. The industrial products company reported $6.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.22 by $0.55. The company had revenue of $5.19 billion for 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%. The business’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same period in the prior year, the firm earned $6.08 earnings per share. Equities research analysts forecast that Parker-Hannifin Co. will post 26.64 EPS for the current year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Wednesday, August 28th were issued 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 is presently 30.73%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft lifted their price objective on Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Robert W. Baird lifted their price target on Parker-Hannifin from $622.00 to $654.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. TD Cowen lifted their price objective on Parker-Hannifin from $500.00 to $520.00 and gave the stock a “hold” rating in a report on Wednesday, September 11th. Truist Financial reiterated a “buy” rating and issued a $673.00 price objective (up previously from $621.00) on shares of Parker-Hannifin in a report on Friday, August 9th. Finally, Stifel Nicolaus boosted their price target on Parker-Hannifin from $633.00 to $691.00 and gave the company a “buy” rating in a report on Wednesday, October 2nd. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and an average price target of $641.64.

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.