Parker-Hannifin Co. (NYSE:PH) Shares Sold by Agate Pass Investment Management LLC

Agate Pass Investment Management LLC decreased its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 5.1% in the 3rd quarter, Holdings Channel.com reports. The fund owned 1,201 shares of the industrial products company’s stock after selling 65 shares during the quarter. Agate Pass Investment Management LLC’s holdings in Parker-Hannifin were worth $759,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in PH. 1832 Asset Management L.P. increased its position in shares of Parker-Hannifin by 305.0% during the 1st quarter. 1832 Asset Management L.P. now owns 307,794 shares of the industrial products company’s stock worth $171,069,000 after purchasing an additional 231,788 shares during the last quarter. AMF Tjanstepension AB increased its position in shares of Parker-Hannifin by 23.0% during the second quarter. AMF Tjanstepension AB now owns 758,262 shares of the industrial products company’s stock valued at $383,594,000 after acquiring an additional 141,862 shares during the last quarter. Mackenzie Financial Corp raised its stake in shares of Parker-Hannifin by 107.7% in the 2nd quarter. Mackenzie Financial Corp now owns 271,717 shares of the industrial products company’s stock valued at $137,437,000 after acquiring an additional 140,898 shares during the period. Groupama Asset Managment acquired a new position in shares of Parker-Hannifin in the 4th quarter worth approximately $63,043,000. Finally, Congress Asset Management Co. MA boosted its position in shares of Parker-Hannifin by 503.9% during the 1st quarter. Congress Asset Management Co. MA now owns 156,196 shares of the industrial products company’s stock worth $86,812,000 after purchasing an additional 130,331 shares during the period. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Insider Transactions at Parker-Hannifin

In related news, VP Berend Bracht sold 850 shares of the business’s 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 in the company, valued at $1,986,282. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other 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 transaction of $1,032,617.23. Following the completion of the transaction, the director now directly owns 3,900 shares of the company’s stock, valued at $2,299,947. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, VP Berend Bracht sold 850 shares of the company’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 value of $503,982.00. Following the completion of the sale, the vice president now directly owns 3,350 shares in the company, valued at approximately $1,986,282. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.39% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on PH shares. TD Cowen upped their price target on Parker-Hannifin from $500.00 to $520.00 and gave the stock a “hold” rating in a research note on Wednesday, September 11th. Stifel Nicolaus increased their target price on Parker-Hannifin from $633.00 to $691.00 and gave the stock a “buy” rating in a research note on Wednesday, October 2nd. StockNews.com raised Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Wednesday, October 2nd. Raymond James increased their price target on shares of Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. Finally, Evercore ISI lifted their price objective on shares of Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $649.86.

Parker-Hannifin Stock Performance

Shares of PH stock opened at $631.47 on Friday. The stock’s 50-day moving average is $591.50 and its two-hundred day moving average is $555.75. 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 Co. has a 1 year low of $362.49 and a 1 year high of $639.87. The firm has a market cap of $81.25 billion, a price-to-earnings ratio of 28.98, a PEG ratio of 2.57 and a beta of 1.43.

Parker-Hannifin (NYSE:PH) last released 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. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. The firm had revenue of $5.19 billion for the quarter, compared to the consensus estimate of $5.08 billion. During the same quarter last year, the business posted $6.08 EPS. The firm’s quarterly revenue was up 1.8% compared to the same quarter last year. Analysts predict that Parker-Hannifin Co. will post 26.64 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Wednesday, August 28th were paid a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.03%. The ex-dividend date of this dividend was Wednesday, August 28th. Parker-Hannifin’s dividend payout ratio (DPR) is 29.92%.

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.