Silver Lake Advisory LLC Buys New Position in Parker-Hannifin Co. (NYSE:PH)

Silver Lake Advisory LLC purchased a new position in Parker-Hannifin Co. (NYSE:PH) during the 2nd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 515 shares of the industrial products company’s stock, valued at approximately $261,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Gilbert & Cook Inc. boosted its holdings in Parker-Hannifin by 5.0% during the fourth quarter. Gilbert & Cook Inc. now owns 1,031 shares of the industrial products company’s stock worth $475,000 after buying an additional 49 shares in the last quarter. Steward Partners Investment Advisory LLC grew its holdings in shares of Parker-Hannifin by 77.9% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,377 shares of the industrial products company’s stock worth $1,095,000 after acquiring an additional 1,041 shares during the last quarter. TD Asset Management Inc raised its position in shares of Parker-Hannifin by 5.2% during the fourth quarter. TD Asset Management Inc now owns 52,457 shares of the industrial products company’s stock worth $24,167,000 after purchasing an additional 2,602 shares during the period. Scotia Capital Inc. lifted its holdings in shares of Parker-Hannifin by 7.2% during the fourth quarter. Scotia Capital Inc. now owns 2,097 shares of the industrial products company’s stock valued at $966,000 after purchasing an additional 141 shares during the last quarter. Finally, Bank of Nova Scotia boosted its position in shares of Parker-Hannifin by 58.3% in the 4th quarter. Bank of Nova Scotia now owns 39,258 shares of the industrial products company’s stock valued at $18,084,000 after purchasing an additional 14,454 shares during the period. 82.44% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of the company’s stock in a transaction that occurred 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 sale, the director now owns 3,900 shares of the company’s stock, valued at $2,299,947. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, VP Berend Bracht sold 850 shares of Parker-Hannifin 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 owns 3,350 shares in the company, valued at approximately $1,986,282. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 sale, 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 owned by company insiders.

Parker-Hannifin Trading Down 0.4 %

Shares of NYSE PH opened at $632.77 on Monday. The stock has a market cap of $81.42 billion, a price-to-earnings ratio of 29.82, a PEG ratio of 2.54 and a beta of 1.43. The business has a 50 day simple moving average of $578.64 and a 200 day simple moving average of $551.02. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.55 and a current ratio of 0.93. Parker-Hannifin Co. has a 52 week low of $362.49 and a 52 week high of $639.87.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results on Thursday, August 8th. The industrial products company reported $6.77 earnings per share for the quarter, beating analysts’ consensus estimates of $6.22 by $0.55. The business had revenue of $5.19 billion for 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%. Parker-Hannifin’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter last year, the firm earned $6.08 EPS. On average, research analysts predict that Parker-Hannifin Co. will post 26.63 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of analysts have commented on the stock. TD Cowen upped their price objective 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. Truist Financial reaffirmed a “buy” rating and issued a $673.00 price objective (up previously from $621.00) on shares of Parker-Hannifin in a research note on Friday, August 9th. Stifel Nicolaus cut their target price on shares of Parker-Hannifin from $629.00 to $613.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Wells Fargo & Company raised their target price on Parker-Hannifin from $600.00 to $640.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a report on Friday, August 9th. Three research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Parker-Hannifin currently 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.