First Pacific Financial Lowers Stock Position in Parker-Hannifin Co. (NYSE:PH)

First Pacific Financial lessened its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 1.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,175 shares of the industrial products company’s stock after selling 23 shares during the quarter. First Pacific Financial’s holdings in Parker-Hannifin were worth $1,374,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the stock. TD Asset Management Inc lifted its position in shares of Parker-Hannifin by 152.1% during the first quarter. TD Asset Management Inc now owns 132,231 shares of the industrial products company’s stock worth $73,493,000 after purchasing an additional 79,774 shares in the last quarter. Daiwa Securities Group Inc. lifted its position in shares of Parker-Hannifin by 8.5% during the first quarter. Daiwa Securities Group Inc. now owns 22,960 shares of the industrial products company’s stock worth $12,761,000 after purchasing an additional 1,802 shares in the last quarter. Concurrent Investment Advisors LLC lifted its position in shares of Parker-Hannifin by 261.4% during the first quarter. Concurrent Investment Advisors LLC now owns 2,515 shares of the industrial products company’s stock worth $1,397,000 after purchasing an additional 1,819 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its position in shares of Parker-Hannifin by 54.1% during the first quarter. Oppenheimer Asset Management Inc. now owns 17,165 shares of the industrial products company’s stock worth $9,540,000 after purchasing an additional 6,029 shares in the last quarter. Finally, Janney Montgomery Scott LLC lifted its position in shares of Parker-Hannifin by 16.5% during the first quarter. Janney Montgomery Scott LLC now owns 42,523 shares of the industrial products company’s stock worth $23,634,000 after purchasing an additional 6,013 shares in the last quarter. Hedge funds and other 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 business’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $589.73, for a total value of $1,032,617.23. Following the sale, the director now directly owns 3,900 shares in the company, valued at $2,299,947. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, VP Berend Bracht sold 850 shares of the company’s stock in a transaction dated 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 owns 3,350 shares of the company’s stock, valued at $1,986,282. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 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 transaction, the director now directly owns 3,900 shares of the company’s stock, valued at approximately $2,299,947. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 1.03% of the company’s stock.

Parker-Hannifin Price Performance

Shares of NYSE:PH traded down $5.51 on Tuesday, reaching $638.02. 632,341 shares of the company were exchanged, compared to its average volume of 639,826. The company has a current ratio of 0.93, a quick ratio of 0.55 and a debt-to-equity ratio of 0.59. Parker-Hannifin Co. has a 1-year low of $362.49 and a 1-year high of $646.60. The firm has a market cap of $82.01 billion, a price-to-earnings ratio of 30.33, a price-to-earnings-growth ratio of 2.57 and a beta of 1.43. The company has a 50-day moving average of $598.57 and a 200-day moving average of $557.54.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, August 8th. The industrial products company reported $6.77 earnings per share for the quarter, topping 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 business 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. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. Equities analysts forecast that Parker-Hannifin Co. will post 26.64 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Investors of record on Wednesday, August 28th were given a $1.63 dividend. The ex-dividend date was Wednesday, August 28th. This represents a $6.52 annualized dividend and a dividend yield of 1.02%. Parker-Hannifin’s dividend payout ratio is presently 30.73%.

Wall Street Analyst Weigh In

PH has been the topic of several research reports. Wells Fargo & Company increased their price target on shares of Parker-Hannifin from $640.00 to $710.00 and gave the stock an “overweight” rating in a research report on Monday, October 7th. Deutsche Bank Aktiengesellschaft raised their target price 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. KeyCorp raised their target price on shares of Parker-Hannifin from $640.00 to $725.00 and gave the company an “overweight” rating in a report on Monday. Raymond James raised their target price on shares of Parker-Hannifin from $610.00 to $650.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. Finally, Evercore ISI raised their target price on shares of Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $655.93.

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.