Creekside Partners Acquires New Holdings in Parker-Hannifin Co. (NYSE:PH)

Creekside Partners bought a new position in Parker-Hannifin Co. (NYSE:PH) during the 2nd quarter, HoldingsChannel reports. The firm bought 410 shares of the industrial products company’s stock, valued at approximately $207,000.

A number of other large investors have also made changes to their positions in the company. Addison Advisors LLC bought a new stake in shares of Parker-Hannifin during the second quarter worth $25,000. Harbor Investment Advisory LLC increased its holdings in Parker-Hannifin by 60.6% during the 1st quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 20 shares in the last quarter. Northwest Investment Counselors LLC bought a new stake in shares of Parker-Hannifin in the first quarter valued at about $31,000. Newbridge Financial Services Group Inc. bought a new stake in shares of Parker-Hannifin in the fourth quarter valued at about $30,000. Finally, Fortitude Family Office LLC boosted its position in shares of Parker-Hannifin by 346.7% during the second quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company’s stock worth $34,000 after buying an additional 52 shares during the period. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Down 0.4 %

PH opened at $627.50 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.55 and a debt-to-equity ratio of 0.59. The stock’s fifty day simple moving average is $583.78 and its 200 day simple moving average is $552.89. Parker-Hannifin Co. has a 1-year low of $362.49 and a 1-year high of $639.87. The stock has a market cap of $80.74 billion, a PE ratio of 29.57, a price-to-earnings-growth ratio of 2.57 and a beta of 1.43.

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

Parker-Hannifin Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Wednesday, August 28th were paid a dividend of $1.63 per share. The ex-dividend date was Wednesday, August 28th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.04%. Parker-Hannifin’s dividend payout ratio (DPR) is currently 30.73%.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Robert W. Baird boosted their target price on Parker-Hannifin from $622.00 to $654.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. TD Cowen boosted their price objective on shares of Parker-Hannifin from $500.00 to $520.00 and gave the stock a “hold” rating in a research report on Wednesday, September 11th. Deutsche Bank Aktiengesellschaft raised their target price on shares of Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a research report on Friday, August 9th. Evercore ISI boosted their price target on shares of Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Finally, Raymond James raised their price objective on Parker-Hannifin from $610.00 to $650.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. Two equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to MarketBeat.com, Parker-Hannifin has a consensus rating of “Moderate Buy” and an average price target of $636.64.

Insider Buying and Selling

In other Parker-Hannifin 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 value of $1,032,617.23. Following 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 legal filing with the SEC, which is accessible through this link. In other news, 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 value of $503,982.00. Following the completion of the transaction, the vice president now directly owns 3,350 shares in the company, valued at approximately $1,986,282. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, 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 transaction, the director now owns 3,900 shares of the company’s stock, valued at $2,299,947. The disclosure for this sale can be found here. 1.03% of the stock is currently owned by insiders.

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.