Caprock Group LLC Boosts Stock Position in Parker-Hannifin Co. (NYSE:PH)

Caprock Group LLC boosted its position in shares of Parker-Hannifin Co. (NYSE:PH) by 87.6% in the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,986 shares of the industrial products company’s stock after acquiring an additional 1,394 shares during the quarter. Caprock Group LLC’s holdings in Parker-Hannifin were worth $1,510,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of the company. W Advisors LLC acquired a new position in shares of Parker-Hannifin in the second quarter valued at approximately $284,000. Anchor Capital Advisors LLC boosted its position in Parker-Hannifin by 0.4% in the 2nd quarter. Anchor Capital Advisors LLC now owns 17,938 shares of the industrial products company’s stock valued at $9,073,000 after buying an additional 80 shares during the period. Acadian Asset Management LLC grew its stake in shares of Parker-Hannifin by 101.0% in the second quarter. Acadian Asset Management LLC now owns 6,742 shares of the industrial products company’s stock worth $3,406,000 after acquiring an additional 3,388 shares in the last quarter. SRS Capital Advisors Inc. increased its position in shares of Parker-Hannifin by 5.7% during the second quarter. SRS Capital Advisors Inc. now owns 1,209 shares of the industrial products company’s stock worth $612,000 after acquiring an additional 65 shares during the period. Finally, Chicago Capital LLC raised its stake in shares of Parker-Hannifin by 25.3% in the second quarter. Chicago Capital LLC now owns 1,045 shares of the industrial products company’s stock valued at $529,000 after acquiring an additional 211 shares in the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

PH has been the topic of a number of analyst reports. Evercore ISI increased their price target on Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. Stifel Nicolaus dropped their price objective on shares of Parker-Hannifin from $629.00 to $613.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Wells Fargo & Company lifted their price objective on shares of Parker-Hannifin from $600.00 to $640.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Raymond James boosted their target price on shares of Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 4th. Finally, Robert W. Baird raised their price target on Parker-Hannifin from $622.00 to $654.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $623.00.

Insider Activity

In related news, Director Joseph Scaminace sold 1,751 shares of the company’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 transaction, the director now owns 3,900 shares of the company’s stock, valued at $2,299,947. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of the stock in a transaction dated 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 completion of the transaction, the director now directly owns 3,900 shares of the company’s stock, valued at $2,299,947. The sale was disclosed in a filing with the SEC, which is available at this link. Also, VP Berend Bracht sold 850 shares of the business’s stock in a transaction that occurred 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 directly owns 3,350 shares in the company, valued at approximately $1,986,282. The disclosure for this sale can be found here. Insiders own 1.03% of the company’s stock.

Parker-Hannifin Trading Up 1.6 %

NYSE PH opened at $580.23 on Tuesday. Parker-Hannifin Co. has a one year low of $362.49 and a one year high of $601.30. The firm has a market cap of $74.62 billion, a PE ratio of 27.34, a P/E/G ratio of 2.32 and a beta of 1.43. The firm’s fifty day moving average is $556.06 and its two-hundred day moving average is $543.57. 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 posted its quarterly earnings data on Thursday, August 8th. The industrial products company reported $6.77 earnings per share for the quarter, beating analysts’ consensus estimates of $6.22 by $0.55. The firm 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%. Parker-Hannifin’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period last year, the firm posted $6.08 EPS. Analysts expect that Parker-Hannifin Co. will post 26.65 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Wednesday, August 28th will be paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.12%. The ex-dividend date is Wednesday, August 28th. Parker-Hannifin’s dividend payout ratio (DPR) is 30.73%.

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.