Parker-Hannifin Co. (NYSE:PH) Shares Sold by Lmcg Investments LLC

Lmcg Investments LLC trimmed its holdings in Parker-Hannifin Co. (NYSE:PH) by 2.3% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,609 shares of the industrial products company’s stock after selling 38 shares during the quarter. Lmcg Investments LLC’s holdings in Parker-Hannifin were worth $814,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. TD Asset Management Inc lifted its holdings in shares of Parker-Hannifin by 152.1% in the 1st quarter. TD Asset Management Inc now owns 132,231 shares of the industrial products company’s stock valued at $73,493,000 after purchasing an additional 79,774 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Parker-Hannifin by 8.5% in the 1st quarter. Daiwa Securities Group Inc. now owns 22,960 shares of the industrial products company’s stock valued at $12,761,000 after purchasing an additional 1,802 shares in the last quarter. Quadrature Capital Ltd acquired a new stake in shares of Parker-Hannifin in the fourth quarter valued at about $4,068,000. Concurrent Investment Advisors LLC boosted its holdings in 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 buying an additional 1,819 shares in the last quarter. Finally, Lockheed Martin Investment Management Co. grew its position in Parker-Hannifin by 18.1% during the fourth quarter. Lockheed Martin Investment Management Co. now owns 56,070 shares of the industrial products company’s stock worth $25,831,000 after buying an additional 8,600 shares during the period. 82.44% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Parker-Hannifin

In related news, Director Joseph Scaminace sold 1,751 shares of the stock in a transaction on 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 transaction, 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 Securities & Exchange Commission, which is available at this link. In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of the company’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 sale, the director now directly owns 3,900 shares in the company, valued at $2,299,947. The sale 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 Parker-Hannifin stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $592.92, for a total value of $503,982.00. Following the completion of the transaction, the vice president now directly owns 3,350 shares in the company, valued at $1,986,282. The disclosure for this sale can be found here. 1.03% of the stock is owned by company insiders.

Parker-Hannifin Stock Performance

Shares of PH opened at $605.17 on Wednesday. Parker-Hannifin Co. has a 1 year low of $362.49 and a 1 year high of $607.69. The company’s 50 day simple moving average is $565.83 and its 200 day simple moving average is $546.03. The company has a market capitalization of $77.79 billion, a price-to-earnings ratio of 28.52, a PEG ratio of 2.39 and a beta of 1.43. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.55 and a current ratio of 0.93.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, August 8th. The industrial products company reported $6.77 EPS for the quarter, beating the consensus estimate of $6.22 by $0.55. The company had revenue of $5.19 billion during the quarter, compared to analysts’ expectations of $5.08 billion. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. The firm’s revenue was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $6.08 EPS. On average, sell-side analysts predict that Parker-Hannifin Co. will post 26.63 EPS for the current year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Wednesday, August 28th were paid a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.08%. The ex-dividend date of this dividend was Wednesday, August 28th. Parker-Hannifin’s dividend payout ratio is currently 30.73%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Raymond James lifted their price target on shares of Parker-Hannifin from $610.00 to $650.00 and gave the company an “outperform” rating in a research report on Wednesday, September 4th. Barclays decreased their target price on Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating on the stock in a research report on Tuesday, June 4th. Evercore ISI raised their price target on Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. Stifel Nicolaus decreased their price objective on shares of Parker-Hannifin from $629.00 to $613.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Finally, TD Cowen raised their target price on shares of Parker-Hannifin from $500.00 to $520.00 and gave the company a “hold” rating in a report on Wednesday, September 11th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $624.43.

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.