MQS Management LLC Makes New Investment in Parker-Hannifin Co. (NYSE:PH)

MQS Management LLC purchased a new position in Parker-Hannifin Co. (NYSE:PH) in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 1,470 shares of the industrial products company’s stock, valued at approximately $744,000.

A number of other large investors have also bought and sold shares of the stock. XTX Topco Ltd lifted its stake in shares of Parker-Hannifin by 567.2% in the second quarter. XTX Topco Ltd now owns 7,312 shares of the industrial products company’s stock valued at $3,698,000 after buying an additional 6,216 shares in the last quarter. Mathes Company Inc. lifted its stake in shares of Parker-Hannifin by 1.0% in the second quarter. Mathes Company Inc. now owns 11,199 shares of the industrial products company’s stock valued at $5,664,000 after buying an additional 116 shares in the last quarter. Seven Eight Capital LP lifted its stake in shares of Parker-Hannifin by 407.4% in the second quarter. Seven Eight Capital LP now owns 2,953 shares of the industrial products company’s stock valued at $1,494,000 after buying an additional 2,371 shares in the last quarter. Vanguard Personalized Indexing Management LLC lifted its stake in shares of Parker-Hannifin by 13.2% in the second quarter. Vanguard Personalized Indexing Management LLC now owns 10,233 shares of the industrial products company’s stock valued at $5,176,000 after buying an additional 1,196 shares in the last quarter. Finally, Tredje AP fonden lifted its position in shares of Parker-Hannifin by 18.7% during the second quarter. Tredje AP fonden now owns 47,562 shares of the industrial products company’s stock valued at $24,057,000 after purchasing an additional 7,500 shares in the last quarter. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Parker-Hannifin

In related news, Director Joseph Scaminace sold 1,751 shares of the business’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 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 through this hyperlink. In related news, Director Joseph Scaminace sold 1,751 shares of the business’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 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 through this hyperlink. Also, 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 transaction, the vice president now directly owns 3,350 shares of the company’s stock, valued at approximately $1,986,282. The disclosure for this sale can be found here. 1.03% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on PH shares. TD Cowen raised their price target on shares of Parker-Hannifin from $500.00 to $520.00 and gave the company a “hold” rating in a research report on Wednesday, September 11th. Robert W. Baird raised their price target on shares of Parker-Hannifin from $622.00 to $654.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Evercore ISI raised their price target on shares of Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. Wells Fargo & Company raised their price target 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. Finally, Raymond James lifted their price objective 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. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, Parker-Hannifin has an average rating of “Moderate Buy” and a consensus target price of $624.43.

Parker-Hannifin Price Performance

PH opened at $608.97 on Thursday. The company has a market capitalization of $78.28 billion, a price-to-earnings ratio of 28.70, a PEG ratio of 2.39 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. The firm has a 50-day moving average price of $567.55 and a 200-day moving average price of $546.47. Parker-Hannifin Co. has a twelve month low of $362.49 and a twelve month high of $619.86.

Parker-Hannifin (NYSE:PH) last posted its earnings results 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 firm had revenue of $5.19 billion during the quarter, compared to the consensus estimate of $5.08 billion. Parker-Hannifin had a net margin of 14.27% and a return on equity of 29.08%. The company’s revenue was up 1.8% on a year-over-year basis. During the same quarter last year, the company earned $6.08 earnings per share. Equities analysts expect that Parker-Hannifin Co. will post 26.63 EPS for the current year.

Parker-Hannifin Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Wednesday, August 28th were paid a dividend of $1.63 per share. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $6.52 annualized dividend and a yield of 1.07%. Parker-Hannifin’s dividend payout ratio is currently 30.73%.

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.