Commerzbank Aktiengesellschaft FI Increases Stock Position in Parker-Hannifin Co. (NYSE:PH)

Commerzbank Aktiengesellschaft FI increased its position in shares of Parker-Hannifin Co. (NYSE:PH) by 7.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 501 shares of the industrial products company’s stock after buying an additional 35 shares during the period. Commerzbank Aktiengesellschaft FI’s holdings in Parker-Hannifin were worth $254,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Sachetta LLC bought a new stake in shares of Parker-Hannifin in the fourth quarter worth $25,000. Wetzel Investment Advisors Inc. bought a new stake in shares of Parker-Hannifin in the 4th quarter worth about $26,000. First United Bank & Trust acquired a new stake in shares of Parker-Hannifin in the 4th quarter valued at about $29,000. Harbor Investment Advisory LLC lifted its position in shares of Parker-Hannifin by 60.6% during the first quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 20 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. acquired a new position in Parker-Hannifin in the fourth quarter worth about $30,000. Institutional investors and hedge funds own 82.44% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have issued reports on PH. 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 research note on Thursday, July 18th. Argus raised their price objective on Parker-Hannifin from $550.00 to $590.00 and gave the stock a “buy” rating in a research note on Monday, May 6th. Raymond James began coverage on shares of Parker-Hannifin in a research note on Friday, June 28th. They set an “outperform” rating and a $610.00 target price for the company. Deutsche Bank Aktiengesellschaft raised their price target 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. Finally, Bank of America boosted their price objective on shares of Parker-Hannifin from $600.00 to $650.00 and gave the company a “buy” rating in a research report on Friday, May 17th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $620.14.

Insider Buying and Selling

In related 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 transaction of $1,032,617.23. Following the completion of the transaction, 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 is available at this link. 1.03% of the stock is owned by corporate insiders.

Parker-Hannifin Stock Performance

PH stock traded up $3.65 during trading on Wednesday, reaching $585.94. 808,911 shares of the company’s stock were exchanged, compared to its average volume of 668,557. Parker-Hannifin Co. has a 1-year low of $362.49 and a 1-year high of $593.28. The firm has a market cap of $75.32 billion, a PE ratio of 27.65, a P/E/G ratio of 2.35 and a beta of 1.44. The company’s fifty day moving average price is $534.44 and its 200-day moving average price is $536.88. 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 issued its quarterly earnings data 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 analysts’ expectations of $5.08 billion. Parker-Hannifin had a net margin of 14.27% and a return on equity of 29.08%. The company’s revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the business earned $6.08 earnings per share. On average, research analysts expect that Parker-Hannifin Co. will post 26.61 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Wednesday, August 28th will be paid a dividend of $1.63 per share. The ex-dividend date of this dividend is Wednesday, August 28th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.11%. Parker-Hannifin’s dividend payout ratio is presently 30.73%.

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.