Brasada Capital Management LP Sells 500 Shares of Parker-Hannifin Co. (NYSE:PH)

Brasada Capital Management LP lessened its position in shares of Parker-Hannifin Co. (NYSE:PH) by 25.0% in the second quarter, Holdings Channel.com reports. The firm owned 1,500 shares of the industrial products company’s stock after selling 500 shares during the period. Brasada Capital Management LP’s holdings in Parker-Hannifin were worth $759,000 as of its most recent SEC filing.

A number of other large investors have also recently added to or reduced their stakes in PH. Fidelis Capital Partners LLC grew its holdings in shares of Parker-Hannifin by 2.3% in the 1st quarter. Fidelis Capital Partners LLC now owns 851 shares of the industrial products company’s stock valued at $473,000 after acquiring an additional 19 shares in the last quarter. Harbor Investment Advisory LLC grew its holdings in shares of Parker-Hannifin by 60.6% in the 1st quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 20 shares in the last quarter. GoalVest Advisory LLC grew its holdings in shares of Parker-Hannifin by 40.0% in the 1st quarter. GoalVest Advisory LLC now owns 70 shares of the industrial products company’s stock valued at $39,000 after acquiring an additional 20 shares in the last quarter. American Trust grew its holdings in Parker-Hannifin by 3.2% during the first quarter. American Trust now owns 649 shares of the industrial products company’s stock worth $361,000 after purchasing an additional 20 shares during the period. Finally, TFG Advisers LLC grew its holdings in Parker-Hannifin by 0.9% during the second quarter. TFG Advisers LLC now owns 2,171 shares of the industrial products company’s stock worth $1,098,000 after purchasing an additional 20 shares during the period. Institutional investors own 82.44% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently commented on PH shares. Deutsche Bank Aktiengesellschaft lifted their price target on Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Stifel Nicolaus reduced their price target on Parker-Hannifin from $629.00 to $613.00 and set a “buy” rating for the company in a report on Thursday, July 18th. Barclays reduced their price target on Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating for the company in a report on Tuesday, June 4th. Bank of America lifted their price target on Parker-Hannifin from $600.00 to $650.00 and gave the stock a “buy” rating in a report on Friday, May 17th. Finally, Mizuho upgraded Parker-Hannifin from a “neutral” rating to a “buy” rating and lifted their price target for the stock from $550.00 to $650.00 in a report on Tuesday, May 28th. Two analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $623.00.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of the business’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 completion of the transaction, the director now directly owns 3,900 shares in the company, valued at $2,299,947. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of the business’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 sale, the vice president now 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 on 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 sale, the director now directly owns 3,900 shares in the company, valued at approximately $2,299,947. The disclosure for this sale can be found here. Company insiders own 1.03% of the company’s stock.

Parker-Hannifin Stock Up 0.2 %

NYSE PH opened at $581.10 on Wednesday. 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 $601.30. The company has a 50 day moving average of $557.48 and a 200-day moving average of $543.92. The company has a market cap of $74.73 billion, a price-to-earnings ratio of 27.38, a PEG ratio of 2.32 and a beta of 1.43.

Parker-Hannifin (NYSE:PH) last released its quarterly earnings results 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. 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 the consensus estimate of $5.08 billion. During the same period in the previous year, the business earned $6.08 earnings per share. The firm’s quarterly revenue was up 1.8% on a year-over-year basis. On average, equities research analysts expect that Parker-Hannifin Co. will post 26.65 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Wednesday, August 28th will be given a dividend of $1.63 per share. The ex-dividend date is Wednesday, August 28th. This represents a $6.52 annualized dividend and a yield of 1.12%. Parker-Hannifin’s dividend payout ratio is currently 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.