Parker-Hannifin Co. (NYSE:PH) Shares Sold by Carolinas Wealth Consulting LLC

Carolinas Wealth Consulting LLC trimmed its position in Parker-Hannifin Co. (NYSE:PH) by 22.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 137 shares of the industrial products company’s stock after selling 39 shares during the quarter. Carolinas Wealth Consulting LLC’s holdings in Parker-Hannifin were worth $69,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Sachetta LLC purchased a new position in Parker-Hannifin in the fourth quarter worth approximately $25,000. Addison Advisors LLC purchased a new position in shares of Parker-Hannifin in the second quarter valued at approximately $25,000. Harbor Investment Advisory LLC boosted its position 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 valued at $29,000 after buying an additional 20 shares during the period. Newbridge Financial Services Group Inc. acquired a new position in Parker-Hannifin during the 4th quarter worth $30,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Parker-Hannifin during the first quarter worth about $31,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on PH. Barclays dropped their target price on Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating on the stock in a report on Tuesday, June 4th. Deutsche Bank Aktiengesellschaft upped their price target on shares of Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Evercore ISI increased their price objective on Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. TD Cowen raised their target price 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, Truist Financial restated a “buy” rating and issued a $673.00 price target (up from $621.00) on shares of Parker-Hannifin in a research note on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Parker-Hannifin has a consensus rating of “Moderate Buy” and an average target price of $624.43.

Parker-Hannifin Stock Performance

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

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, August 8th. The industrial products company reported $6.77 EPS for the quarter, topping the consensus estimate of $6.22 by $0.55. The firm had revenue of $5.19 billion during the quarter, compared to analysts’ expectations 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 period in the previous year, the company earned $6.08 EPS. On average, analysts anticipate that Parker-Hannifin Co. will post 26.63 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Wednesday, August 28th were given 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 dividend payout ratio (DPR) is 30.73%.

Insider Transactions at Parker-Hannifin

In related news, Director Joseph Scaminace sold 1,751 shares of the firm’s stock in a transaction that occurred on 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 transaction, the director now owns 3,900 shares in the company, valued at $2,299,947. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, Director Joseph Scaminace sold 1,751 shares of the firm’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 sale, the director now directly owns 3,900 shares in the company, valued at approximately $2,299,947. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, VP Berend Bracht sold 850 shares of the company’s 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 of the company’s stock, valued at $1,986,282. The disclosure for this sale can be found here. Insiders own 1.03% of the company’s stock.

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.