Parker-Hannifin Co. (NYSE:PH) is Banyan Capital Management Inc.’s 6th Largest Position

Banyan Capital Management Inc. decreased its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 9.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 24,136 shares of the industrial products company’s stock after selling 2,552 shares during the period. Parker-Hannifin comprises approximately 7.4% of Banyan Capital Management Inc.’s holdings, making the stock its 6th largest position. Banyan Capital Management Inc.’s holdings in Parker-Hannifin were worth $12,208,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Fidelis Capital Partners LLC increased its position in Parker-Hannifin by 2.3% in the first quarter. Fidelis Capital Partners LLC now owns 851 shares of the industrial products company’s stock worth $473,000 after buying an additional 19 shares in the last quarter. Harbor Investment Advisory LLC increased its holdings in Parker-Hannifin by 60.6% in the 1st 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 in the last quarter. GoalVest Advisory LLC raised its stake in Parker-Hannifin by 40.0% during the 1st quarter. GoalVest Advisory LLC now owns 70 shares of the industrial products company’s stock worth $39,000 after acquiring an additional 20 shares during the period. American Trust lifted its holdings in Parker-Hannifin by 3.2% during the first quarter. American Trust now owns 649 shares of the industrial products company’s stock valued at $361,000 after purchasing an additional 20 shares in the last quarter. Finally, TFG Advisers LLC boosted its position in shares of Parker-Hannifin by 0.9% in the second quarter. TFG Advisers LLC now owns 2,171 shares of the industrial products company’s stock worth $1,098,000 after purchasing an additional 20 shares during the period. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Parker-Hannifin Price Performance

PH stock opened at $626.42 on Friday. The company has a fifty day simple moving average of $569.51 and a two-hundred day simple moving average of $547.02. Parker-Hannifin Co. has a 52 week low of $362.49 and a 52 week high of $627.30. The company has a quick ratio of 0.55, a current ratio of 0.93 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $80.52 billion, a P/E ratio of 29.52, a price-to-earnings-growth ratio of 2.39 and a beta of 1.43.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings data on Thursday, August 8th. The industrial products company reported $6.77 earnings per share for the quarter, topping the consensus estimate of $6.22 by $0.55. The company had revenue of $5.19 billion for the quarter, compared to analysts’ expectations of $5.08 billion. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. The firm’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same period in the previous year, the firm posted $6.08 earnings per share. Analysts anticipate 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 paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a yield of 1.04%. The ex-dividend date was Wednesday, August 28th. Parker-Hannifin’s payout ratio is 30.73%.

Wall Street Analyst Weigh In

PH has been the topic of several recent analyst reports. Wells Fargo & Company raised their price objective on shares of Parker-Hannifin from $600.00 to $640.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Mizuho upgraded Parker-Hannifin from a “neutral” rating to a “buy” rating and boosted their price objective for the company from $550.00 to $650.00 in a research report on Tuesday, May 28th. Deutsche Bank Aktiengesellschaft increased their target price on Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Robert W. Baird boosted their price target on Parker-Hannifin from $622.00 to $654.00 and gave the stock an “outperform” rating in a report on Friday, August 9th. Finally, Stifel Nicolaus cut their price objective on shares of Parker-Hannifin from $629.00 to $613.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $624.43.

Insider Buying and Selling at Parker-Hannifin

In related news, VP Berend Bracht sold 850 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $592.92, for a total value of $503,982.00. Following the sale, the vice president now directly owns 3,350 shares of the company’s stock, valued at approximately $1,986,282. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Parker-Hannifin news, 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 value of $503,982.00. Following the sale, the vice president now owns 3,350 shares in the company, valued at $1,986,282. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Joseph Scaminace sold 1,751 shares of the business’s stock in a transaction 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. The disclosure for this sale can be found here. Company insiders own 1.03% of the company’s stock.

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.