Parker-Hannifin Co. (NYSE:PH) Shares Purchased by Legacy Advisors LLC

Legacy Advisors LLC grew its position in Parker-Hannifin Co. (NYSE:PH) by 6.9% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 419 shares of the industrial products company’s stock after acquiring an additional 27 shares during the quarter. Legacy Advisors LLC’s holdings in Parker-Hannifin were worth $212,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rothschild Investment LLC acquired a new position in Parker-Hannifin in the second quarter valued at approximately $712,000. Intact Investment Management Inc. boosted its position in Parker-Hannifin by 18.9% during the 2nd quarter. Intact Investment Management Inc. now owns 2,140 shares of the industrial products company’s stock valued at $1,082,000 after purchasing an additional 340 shares during the period. Jaffetilchin Investment Partners LLC grew its stake in Parker-Hannifin by 11.6% during the 2nd quarter. Jaffetilchin Investment Partners LLC now owns 1,138 shares of the industrial products company’s stock worth $576,000 after buying an additional 118 shares during the last quarter. Integral Investment Advisors Inc. lifted its stake in Parker-Hannifin by 12.9% in the second quarter. Integral Investment Advisors Inc. now owns 535 shares of the industrial products company’s stock valued at $270,000 after buying an additional 61 shares during the last quarter. Finally, Hantz Financial Services Inc. acquired a new position in shares of Parker-Hannifin during the second quarter valued at $19,759,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on PH. Evercore ISI increased their price objective on shares of Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. 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 note on Friday, August 9th. Bank of America lifted their price target on shares of Parker-Hannifin from $600.00 to $650.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Barclays cut their price objective on Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating for the company in a research report on Tuesday, June 4th. Finally, Argus lifted their target price on Parker-Hannifin from $550.00 to $590.00 and gave the stock a “buy” rating in a report on Monday, May 6th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $620.14.

Parker-Hannifin Price Performance

NYSE PH opened at $600.20 on Friday. The firm has a market capitalization of $77.19 billion, a price-to-earnings ratio of 28.28, a price-to-earnings-growth ratio of 2.44 and a beta of 1.44. 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 company has a 50 day simple moving average of $547.07 and a 200-day simple moving average of $540.81. Parker-Hannifin Co. has a 52-week low of $362.49 and a 52-week high of $601.30.

Parker-Hannifin (NYSE:PH) last posted its quarterly 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 net margin of 14.27% and a return on equity of 29.08%. The business had revenue of $5.19 billion for the quarter, compared to analysts’ expectations of $5.08 billion. During the same period in the previous year, the company posted $6.08 EPS. Parker-Hannifin’s revenue was up 1.8% on a year-over-year basis. Equities research analysts predict that Parker-Hannifin Co. will post 26.61 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently declared 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 1.09%. The ex-dividend date of this dividend is Wednesday, August 28th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 30.73%.

Insider Activity

In other news, VP Berend Bracht sold 850 shares of the company’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $592.92, for a total transaction of $503,982.00. Following the completion of the sale, the vice president now owns 3,350 shares in the company, valued at approximately $1,986,282. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Parker-Hannifin news, 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 completion of the sale, the director now directly owns 3,900 shares in the company, valued at $2,299,947. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, VP Berend Bracht sold 850 shares of Parker-Hannifin stock in a transaction dated Monday, August 26th. The stock was 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 owns 3,350 shares in the company, valued at $1,986,282. The disclosure for this sale can be found here. 1.03% of the stock is owned by corporate 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.