Signature Estate & Investment Advisors LLC Purchases Shares of 1,485 Parker-Hannifin Co. (NYSE:PH)

Signature Estate & Investment Advisors LLC purchased a new stake in shares of Parker-Hannifin Co. (NYSE:PH) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 1,485 shares of the industrial products company’s stock, valued at approximately $751,000.

Other institutional investors have also bought and sold shares of the company. Sachetta LLC bought a new position in shares of Parker-Hannifin during the 4th quarter worth about $25,000. First United Bank & Trust bought a new position in Parker-Hannifin in the 4th quarter valued at about $29,000. Harbor Investment Advisory LLC lifted its position in Parker-Hannifin by 60.6% in the 1st quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 20 shares in the last quarter. Newbridge Financial Services Group Inc. bought a new position in Parker-Hannifin in the 4th quarter valued at about $30,000. Finally, Northwest Investment Counselors LLC purchased a new stake in Parker-Hannifin in the 1st quarter valued at about $31,000. Institutional investors own 82.44% of the company’s stock.

Insider Buying and Selling

In related news, Director Joseph Scaminace sold 1,751 shares of the company’s stock in a transaction 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 completion of the transaction, the director now owns 3,900 shares in the company, valued at $2,299,947. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 1.03% of the stock is owned by company insiders.

Parker-Hannifin Trading Down 0.2 %

Shares of NYSE PH opened at $590.23 on Wednesday. The firm’s 50 day moving average price is $540.19 and its 200-day moving average price is $539.06. The company has a market cap of $75.87 billion, a PE ratio of 27.81, a P/E/G ratio of 2.37 and a beta of 1.44. Parker-Hannifin Co. has a 52-week low of $362.49 and a 52-week high of $597.33. 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 (NYSE:PH) last issued its earnings results on Thursday, August 8th. The industrial products company reported $6.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.22 by $0.55. The firm 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%. The business’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the prior year, the firm posted $6.08 earnings per share. On average, equities research analysts expect that Parker-Hannifin Co. will post 26.61 EPS for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Wednesday, August 28th will be given a dividend of $1.63 per share. The ex-dividend date is Wednesday, August 28th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.10%. Parker-Hannifin’s dividend payout ratio is 30.73%.

Analysts Set New Price Targets

Several research firms have commented on PH. Mizuho upgraded shares of Parker-Hannifin from a “neutral” rating to a “buy” rating and increased their price objective for the company from $550.00 to $650.00 in a research note on Tuesday, May 28th. Evercore ISI lifted 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. Deutsche Bank Aktiengesellschaft lifted their target price on shares of Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Robert W. Baird boosted their price objective on shares of Parker-Hannifin from $622.00 to $654.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Finally, Stifel Nicolaus decreased their price objective on shares of Parker-Hannifin from $629.00 to $613.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $620.14.

About Parker-Hannifin

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.