MCF Advisors LLC Has $549,000 Stake in Parker-Hannifin Co. (NYSE:PH)

MCF Advisors LLC grew its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 5.8% during the second quarter, HoldingsChannel.com reports. The firm owned 1,086 shares of the industrial products company’s stock after acquiring an additional 60 shares during the quarter. MCF Advisors LLC’s holdings in Parker-Hannifin were worth $549,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Parker-Hannifin during the 4th quarter worth $665,188,000. Kodai Capital Management LP acquired a new stake in Parker-Hannifin during the fourth quarter worth about $122,449,000. 1832 Asset Management L.P. raised its position in shares of Parker-Hannifin by 305.0% in the 1st quarter. 1832 Asset Management L.P. now owns 307,794 shares of the industrial products company’s stock valued at $171,069,000 after buying an additional 231,788 shares in the last quarter. AMF Tjanstepension AB lifted its holdings in shares of Parker-Hannifin by 23.0% during the 2nd quarter. AMF Tjanstepension AB now owns 758,262 shares of the industrial products company’s stock worth $383,594,000 after acquiring an additional 141,862 shares during the period. Finally, Groupama Asset Managment acquired a new stake in shares of Parker-Hannifin during the 4th quarter worth approximately $63,043,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Parker-Hannifin

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 transaction, the vice president now owns 3,350 shares in the company, valued at $1,986,282. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In related news, Director Joseph Scaminace sold 1,751 shares of Parker-Hannifin stock in a transaction on 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 completion of the sale, the director now owns 3,900 shares of the company’s stock, valued at approximately $2,299,947. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, VP Berend Bracht sold 850 shares of the company’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $592.92, for a total transaction of $503,982.00. Following the transaction, the vice president now owns 3,350 shares in the company, valued at approximately $1,986,282. The disclosure for this sale can be found here. 1.03% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research analysts have commented on PH shares. Truist Financial restated a “buy” rating and set a $673.00 price objective (up from $621.00) on shares of Parker-Hannifin in a research report on Friday, August 9th. Robert W. Baird boosted their target price on Parker-Hannifin from $622.00 to $654.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Raymond James raised their price target on shares of Parker-Hannifin from $610.00 to $650.00 and gave the company an “outperform” rating in a research note on Wednesday. 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 research report on Monday, August 19th. Finally, Deutsche Bank Aktiengesellschaft boosted their target price on shares of Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a research note on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. Based on data from MarketBeat.com, Parker-Hannifin has a consensus rating of “Moderate Buy” and an average price target of $623.00.

Parker-Hannifin Trading Down 0.3 %

PH opened at $575.20 on Friday. The stock has a market cap of $73.97 billion, a PE ratio of 27.11, a price-to-earnings-growth ratio of 2.44 and a beta of 1.43. 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 Co. has a twelve month low of $362.49 and a twelve month high of $601.30. The company has a fifty day moving average of $553.17 and a 200-day moving average of $542.56.

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 analysts’ consensus estimates of $6.22 by $0.55. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. The company had revenue of $5.19 billion for the quarter, compared to the consensus estimate of $5.08 billion. During the same period in the previous year, the business earned $6.08 EPS. The firm’s revenue was up 1.8% compared to the same quarter last year. On average, sell-side analysts predict that Parker-Hannifin Co. will post 26.61 EPS for the current year.

Parker-Hannifin Dividend Announcement

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 $1.63 dividend. The ex-dividend date is Wednesday, August 28th. This represents a $6.52 annualized dividend and a dividend yield of 1.13%. Parker-Hannifin’s dividend payout ratio is currently 30.73%.

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.