Quarry LP Raises Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Quarry LP boosted its holdings in Parker-Hannifin Co. (NYSE:PH) by 293.7% in the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 437 shares of the industrial products company’s stock after purchasing an additional 326 shares during the period. Quarry LP’s holdings in Parker-Hannifin were worth $221,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in Parker-Hannifin by 1.0% in the first quarter. Vanguard Group Inc. now owns 10,566,391 shares of the industrial products company’s stock valued at $5,872,694,000 after purchasing an additional 105,475 shares during the last quarter. Boston Partners raised its stake in Parker-Hannifin by 4.1% during the first quarter. Boston Partners now owns 1,111,720 shares of the industrial products company’s stock valued at $617,878,000 after buying an additional 43,535 shares in the last quarter. Legal & General Group Plc raised its stake in Parker-Hannifin by 1.3% during the second quarter. Legal & General Group Plc now owns 985,280 shares of the industrial products company’s stock valued at $498,366,000 after buying an additional 12,615 shares in the last quarter. AMF Tjanstepension AB raised its stake in 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 buying an additional 141,862 shares in the last quarter. Finally, Bank of Montreal Can raised its stake in Parker-Hannifin by 11.6% during the second quarter. Bank of Montreal Can now owns 735,755 shares of the industrial products company’s stock valued at $378,572,000 after buying an additional 76,629 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on PH shares. Raymond James upped their price objective on Parker-Hannifin from $610.00 to $650.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. Wells Fargo & Company upped their price objective on Parker-Hannifin from $600.00 to $640.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Robert W. Baird upped their price objective on Parker-Hannifin from $622.00 to $654.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Deutsche Bank Aktiengesellschaft increased their price target on Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Finally, Truist Financial reiterated a “buy” rating and set a $673.00 price target (up from $621.00) on shares of Parker-Hannifin in a research report on Friday, August 9th. Three equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $624.43.

Parker-Hannifin Stock Down 0.2 %

PH opened at $631.82 on Tuesday. Parker-Hannifin Co. has a 12 month low of $362.49 and a 12 month high of $639.87. 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 stock has a market cap of $81.21 billion, a P/E ratio of 29.77, a P/E/G ratio of 2.54 and a beta of 1.43. The stock’s 50 day moving average price is $580.24 and its 200 day moving average price is $551.69.

Parker-Hannifin (NYSE:PH) last posted its earnings results on Thursday, August 8th. The industrial products company reported $6.77 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $5.08 billion. During the same period last year, the firm earned $6.08 EPS. The firm’s revenue was up 1.8% compared to the same quarter last year. As a group, research analysts predict that Parker-Hannifin Co. will post 26.63 earnings per share for the current year.

Parker-Hannifin Announces Dividend

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

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of the 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 completion of the transaction, the director now directly owns 3,900 shares of the company’s stock, valued at approximately $2,299,947. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of the 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 completion of the transaction, the director now directly owns 3,900 shares of the company’s stock, valued at approximately $2,299,947. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, VP Berend Bracht sold 850 shares of the stock in a transaction 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 transaction, the vice president now directly 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 corporate insiders.

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.