Delta Investment Management LLC Increases Holdings in Parker-Hannifin Co. (NYSE:PH)

Delta Investment Management LLC grew its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 4.4% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 523 shares of the industrial products company’s stock after buying an additional 22 shares during the quarter. Delta Investment Management LLC’s holdings in Parker-Hannifin were worth $265,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in PH. Gilbert & Cook Inc. raised its position in shares of Parker-Hannifin by 5.0% during the 4th quarter. Gilbert & Cook Inc. now owns 1,031 shares of the industrial products company’s stock valued at $475,000 after buying an additional 49 shares in the last quarter. Steward Partners Investment Advisory LLC raised its position in shares of Parker-Hannifin by 77.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,377 shares of the industrial products company’s stock valued at $1,095,000 after buying an additional 1,041 shares in the last quarter. TD Asset Management Inc raised its position in shares of Parker-Hannifin by 5.2% during the 4th quarter. TD Asset Management Inc now owns 52,457 shares of the industrial products company’s stock valued at $24,167,000 after buying an additional 2,602 shares in the last quarter. Stifel Financial Corp raised its position in shares of Parker-Hannifin by 3.4% during the 4th quarter. Stifel Financial Corp now owns 225,301 shares of the industrial products company’s stock valued at $103,803,000 after buying an additional 7,356 shares in the last quarter. Finally, Weiss Asset Management LP purchased a new stake in shares of Parker-Hannifin during the 4th quarter valued at about $431,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

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

Parker-Hannifin Stock Performance

PH stock opened at $635.94 on Friday. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.93 and a quick ratio of 0.55. The business has a 50-day moving average price of $575.12 and a 200 day moving average price of $549.58. The company has a market capitalization of $81.74 billion, a P/E ratio of 29.97, a PEG ratio of 2.51 and a beta of 1.43. Parker-Hannifin Co. has a 1-year low of $362.49 and a 1-year high of $639.87.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings data on Thursday, August 8th. The industrial products company reported $6.77 earnings per share for the quarter, beating 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 return on equity of 29.08% and a net margin of 14.27%. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the company posted $6.08 earnings per share. As a group, equities research analysts forecast that Parker-Hannifin Co. will post 26.63 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Wednesday, August 28th were issued a $1.63 dividend. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $6.52 dividend on an annualized basis and a yield of 1.03%. Parker-Hannifin’s dividend payout ratio is presently 30.73%.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Robert W. Baird raised their price objective on shares of Parker-Hannifin from $622.00 to $654.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Wells Fargo & Company boosted their price objective on Parker-Hannifin from $600.00 to $640.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Evercore ISI increased their target price on Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a research note on Monday, August 19th. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a research note on Friday, August 9th. Finally, TD Cowen boosted their target price on shares of Parker-Hannifin from $500.00 to $520.00 and gave the company a “hold” rating in a research note on Wednesday, September 11th. Three analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently 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.