Family Firm Inc. Buys New Stake in Parker-Hannifin Co. (NYSE:PH)

Family Firm Inc. bought a new stake in Parker-Hannifin Co. (NYSE:PH) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 201 shares of the industrial products company’s stock, valued at approximately $102,000.

Several other large investors have also recently bought and sold shares of PH. Sachetta LLC acquired a new stake in shares of Parker-Hannifin during the fourth quarter worth about $25,000. First United Bank & Trust acquired a new stake in Parker-Hannifin in the fourth quarter valued at about $29,000. Harbor Investment Advisory LLC lifted its position in Parker-Hannifin by 60.6% in the first quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock valued at $29,000 after purchasing an additional 20 shares during the period. Newbridge Financial Services Group Inc. acquired a new stake in Parker-Hannifin in the fourth quarter valued at about $30,000. Finally, Northwest Investment Counselors LLC acquired a new stake in Parker-Hannifin in the first quarter valued at about $31,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Trading Up 1.1 %

PH stock traded up $6.52 during midday trading on Friday, hitting $593.82. The stock had a trading volume of 492,647 shares, compared to its average volume of 666,500. The firm has a market cap of $76.33 billion, a PE ratio of 27.98, a price-to-earnings-growth ratio of 2.37 and a beta of 1.44. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.93 and a quick ratio of 0.55. Parker-Hannifin Co. has a 12-month low of $362.49 and a 12-month high of $594.10. The company’s 50-day moving average price is $538.48 and its 200 day moving average price is $538.17.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings data on Thursday, August 8th. The industrial products company reported $6.77 earnings per share (EPS) for the quarter, beating the consensus estimate 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 during the quarter, compared to analysts’ expectations of $5.08 billion. During the same period in the previous year, the company earned $6.08 EPS. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. On average, equities research analysts predict that Parker-Hannifin Co. will post 26.61 earnings per share 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. Stockholders 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 annualized dividend and a dividend yield of 1.10%. Parker-Hannifin’s dividend payout ratio is presently 30.73%.

Insider Activity

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 sale, the director now directly owns 3,900 shares of the company’s stock, valued at approximately $2,299,947. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.03% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on PH shares. Raymond James started coverage on shares of Parker-Hannifin in a research report on Friday, June 28th. They issued an “outperform” rating and a $610.00 price objective for the company. Barclays reduced their price objective on shares of Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating for the company in a research report on Tuesday, June 4th. Stifel Nicolaus reduced their price objective on shares of Parker-Hannifin from $629.00 to $613.00 and set a “buy” rating for the company in a research report on Thursday, July 18th. Mizuho raised shares of Parker-Hannifin from a “neutral” rating to a “buy” rating and increased their target price for the company from $550.00 to $650.00 in a report on Tuesday, May 28th. Finally, Robert W. Baird increased their target price on shares of Parker-Hannifin from $622.00 to $654.00 and gave the company an “outperform” rating in a report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to MarketBeat.com, Parker-Hannifin presently has an average rating of “Moderate Buy” and an average target price of $620.14.

Parker-Hannifin 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.