Catalytic Wealth RIA LLC Sells 236 Shares of Parker-Hannifin Co. (NYSE:PH)

Catalytic Wealth RIA LLC decreased its position in Parker-Hannifin Co. (NYSE:PH) by 18.9% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,013 shares of the industrial products company’s stock after selling 236 shares during the period. Catalytic Wealth RIA LLC’s holdings in Parker-Hannifin were worth $512,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Norges Bank acquired a new position in Parker-Hannifin in the fourth quarter valued at about $665,188,000. Kodai Capital Management LP bought a new position in Parker-Hannifin during the 4th quarter worth approximately $122,449,000. 1832 Asset Management L.P. grew its holdings in Parker-Hannifin by 305.0% during the first quarter. 1832 Asset Management L.P. now owns 307,794 shares of the industrial products company’s stock valued at $171,069,000 after purchasing an additional 231,788 shares during the period. AMF Tjanstepension AB increased its stake in Parker-Hannifin by 23.0% in the second quarter. AMF Tjanstepension AB now owns 758,262 shares of the industrial products company’s stock valued at $383,594,000 after purchasing an additional 141,862 shares in the last quarter. Finally, Groupama Asset Managment acquired a new stake in Parker-Hannifin in the fourth quarter worth $63,043,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Parker-Hannifin Stock Up 1.5 %

Shares of PH stock traded up $8.98 during trading on Friday, reaching $600.20. The company’s stock had a trading volume of 622,700 shares, compared to its average volume of 659,459. The company has a market cap of $77.15 billion, a price-to-earnings ratio of 28.28, a price-to-earnings-growth ratio of 2.37 and a beta of 1.44. Parker-Hannifin Co. has a one year low of $362.49 and a one year high of $601.30. The business has a fifty day moving average price of $547.07 and a 200-day moving average price of $540.81. The company has a quick ratio of 0.55, a current ratio of 0.93 and a debt-to-equity ratio of 0.59.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings data on Thursday, August 8th. The industrial products company reported $6.77 EPS for the quarter, topping analysts’ consensus estimates of $6.22 by $0.55. The company had revenue of $5.19 billion during 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 company’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the prior year, the business posted $6.08 EPS. Analysts anticipate that Parker-Hannifin Co. will post 26.61 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The business also recently disclosed 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 is Wednesday, August 28th. Parker-Hannifin’s dividend payout ratio is currently 30.73%.

Insider Activity

In related news, Director Joseph Scaminace sold 1,751 shares of the business’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 transaction, the director now directly owns 3,900 shares in the company, valued at $2,299,947. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, VP Berend Bracht sold 850 shares of the firm’s stock in a transaction that occurred on 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 sale, the vice president now directly owns 3,350 shares of the company’s stock, valued at $1,986,282. The transaction was disclosed in a legal filing with the SEC, which is accessible 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 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 in the company, valued at $2,299,947. The disclosure for this sale can be found here. 1.03% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the stock. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a report on Friday, August 9th. Wells Fargo & Company boosted their target price on Parker-Hannifin from $600.00 to $640.00 and gave the company an “overweight” rating in a research note on Friday, August 9th. Evercore ISI raised their price target on Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Stifel Nicolaus cut their price objective on Parker-Hannifin from $629.00 to $613.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Finally, Raymond James assumed coverage on Parker-Hannifin in a research note on Friday, June 28th. They set an “outperform” rating and a $610.00 target price for the company. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to MarketBeat.com, the company has a consensus 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.