W Advisors LLC Invests $284,000 in Parker-Hannifin Co. (NYSE:PH)

W Advisors LLC bought a new stake in Parker-Hannifin Co. (NYSE:PH) in the 2nd quarter, according to its most recent 13F filing with the SEC. The firm bought 562 shares of the industrial products company’s stock, valued at approximately $284,000.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Gilbert & Cook Inc. grew its holdings in shares of Parker-Hannifin by 5.0% during the fourth quarter. Gilbert & Cook Inc. now owns 1,031 shares of the industrial products company’s stock valued at $475,000 after buying an additional 49 shares during the last quarter. Wealthspire Advisors LLC boosted its stake in Parker-Hannifin by 6.3% during the 4th quarter. Wealthspire Advisors LLC now owns 1,227 shares of the industrial products company’s stock valued at $565,000 after purchasing an additional 73 shares during the last quarter. Principal Securities Inc. purchased a new stake in shares of Parker-Hannifin in the fourth quarter worth approximately $1,280,000. BNP Paribas Financial Markets lifted its holdings in shares of Parker-Hannifin by 4.4% in the fourth quarter. BNP Paribas Financial Markets now owns 46,758 shares of the industrial products company’s stock valued at $21,541,000 after purchasing an additional 1,984 shares in the last quarter. Finally, Johnson Investment Counsel Inc. boosted its position in shares of Parker-Hannifin by 1.4% during the fourth quarter. Johnson Investment Counsel Inc. now owns 2,270 shares of the industrial products company’s stock valued at $1,046,000 after buying an additional 31 shares during the last quarter. 82.44% of the stock is owned by institutional investors.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the director now owns 3,900 shares in the company, valued at approximately $2,299,947. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director Joseph Scaminace sold 1,751 shares of the company’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 sale, the director now owns 3,900 shares of the company’s stock, valued at approximately $2,299,947. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Berend Bracht sold 850 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $592.92, for a total transaction of $503,982.00. Following the completion of the transaction, the vice president now directly owns 3,350 shares of the company’s stock, valued at $1,986,282. The disclosure for this sale can be found here. 1.03% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

PH has been the topic of several recent analyst reports. Stifel Nicolaus dropped their price objective on Parker-Hannifin from $629.00 to $613.00 and set a “buy” rating on the stock in a research note on Thursday, July 18th. Robert W. Baird raised their price target 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. Bank of America upped their price objective 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. Truist Financial reissued a “buy” rating and set a $673.00 target price (up previously from $621.00) on shares of Parker-Hannifin in a research report on Friday, August 9th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $623.00.

Parker-Hannifin Price Performance

NYSE PH opened at $571.31 on Friday. The company has a quick ratio of 0.55, a current ratio of 0.93 and a debt-to-equity ratio of 0.59. The company has a market cap of $73.44 billion, a PE ratio of 26.92, a price-to-earnings-growth ratio of 2.44 and a beta of 1.43. Parker-Hannifin Co. has a 52 week low of $362.49 and a 52 week high of $601.30. The firm’s 50-day simple moving average is $554.47 and its two-hundred day simple moving average is $543.08.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, August 8th. The industrial products company reported $6.77 EPS for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $5.08 billion. During the same period in the prior year, the company posted $6.08 EPS. Parker-Hannifin’s revenue was up 1.8% compared to the same quarter last year. Research analysts predict that Parker-Hannifin Co. will post 26.61 earnings per share for the current year.

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Wednesday, August 28th will be given a $1.63 dividend. This represents a $6.52 annualized dividend and a dividend yield of 1.14%. The ex-dividend date is Wednesday, August 28th. Parker-Hannifin’s dividend payout ratio (DPR) is presently 30.73%.

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.