Symmetry Investments LP Sells 900 Shares of Parker-Hannifin Co. (NYSE:PH)

Symmetry Investments LP lowered its holdings in Parker-Hannifin Co. (NYSE:PH) by 19.1% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,800 shares of the industrial products company’s stock after selling 900 shares during the period. Symmetry Investments LP’s holdings in Parker-Hannifin were worth $1,922,000 as of its most recent filing with the Securities and Exchange Commission.

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

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of the business’s 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 completion of the transaction, the vice president now directly owns 3,350 shares in the company, valued at $1,986,282. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Joseph Scaminace sold 1,751 shares of the business’s 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 sale, the director now owns 3,900 shares in the company, valued at approximately $2,299,947. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 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. 1.03% of the stock is currently owned by insiders.

Parker-Hannifin Price Performance

Shares of Parker-Hannifin stock opened at $623.96 on Friday. The company has a 50-day simple moving average of $571.23 and a two-hundred day simple moving average of $547.64. Parker-Hannifin Co. has a twelve month low of $362.49 and a twelve month high of $627.30. The stock has a market capitalization of $80.24 billion, a price-to-earnings ratio of 29.40, a price-to-earnings-growth ratio of 2.42 and a beta of 1.43. The company has a quick ratio of 0.55, a current ratio of 0.93 and a debt-to-equity ratio of 0.59.

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 business had revenue of $5.19 billion for the quarter, compared to the consensus estimate of $5.08 billion. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $6.08 earnings per share. Analysts forecast that Parker-Hannifin Co. will post 26.63 EPS for the current year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Wednesday, August 28th were given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.04%. The ex-dividend date was Wednesday, August 28th. Parker-Hannifin’s payout ratio is presently 30.73%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on PH. Stifel Nicolaus decreased their price objective on shares of Parker-Hannifin from $629.00 to $613.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. 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 research report on Friday, August 9th. Mizuho raised Parker-Hannifin from a “neutral” rating to a “buy” rating and raised their price objective for the company from $550.00 to $650.00 in a research report on Tuesday, May 28th. Raymond James boosted their target price on Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Finally, Evercore ISI raised their price target on Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, Parker-Hannifin currently has a consensus rating of “Moderate Buy” and a consensus target price of $624.43.

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.