Marble Harbor Investment Counsel LLC Buys 30 Shares of Parker-Hannifin Co. (NYSE:PH)

Marble Harbor Investment Counsel LLC grew its position in Parker-Hannifin Co. (NYSE:PH) by 0.1% during the 2nd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 30,017 shares of the industrial products company’s stock after purchasing an additional 30 shares during the period. Parker-Hannifin comprises approximately 1.8% of Marble Harbor Investment Counsel LLC’s holdings, making the stock its 17th biggest holding. Marble Harbor Investment Counsel LLC’s holdings in Parker-Hannifin were worth $15,183,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Brown Brothers Harriman & Co. grew its stake in Parker-Hannifin by 250.3% during the second quarter. Brown Brothers Harriman & Co. now owns 1,524 shares of the industrial products company’s stock worth $771,000 after buying an additional 1,089 shares during the last quarter. Vista Capital Partners Inc. increased its holdings in Parker-Hannifin by 13.6% during the 2nd quarter. Vista Capital Partners Inc. now owns 426 shares of the industrial products company’s stock valued at $215,000 after purchasing an additional 51 shares in the last quarter. J.W. Cole Advisors Inc. raised its position in Parker-Hannifin by 6.7% in the 2nd quarter. J.W. Cole Advisors Inc. now owns 2,273 shares of the industrial products company’s stock valued at $1,150,000 after purchasing an additional 143 shares during the last quarter. Prosperity Consulting Group LLC boosted its stake in Parker-Hannifin by 59.6% in the second quarter. Prosperity Consulting Group LLC now owns 2,198 shares of the industrial products company’s stock worth $1,112,000 after purchasing an additional 821 shares in the last quarter. Finally, Envestnet Asset Management Inc. grew its holdings in shares of Parker-Hannifin by 18.1% during the second quarter. Envestnet Asset Management Inc. now owns 652,539 shares of the industrial products company’s stock worth $330,061,000 after purchasing an additional 99,959 shares during the last quarter. Institutional investors own 82.44% of the company’s stock.

Analysts Set New Price Targets

Several brokerages recently issued reports on PH. Wells Fargo & Company upped their price target on shares of Parker-Hannifin from $600.00 to $640.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Evercore ISI increased their price target on shares of Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a research note on Monday, August 19th. Robert W. Baird boosted their price objective on shares of Parker-Hannifin from $622.00 to $654.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Raymond James lifted their target price on Parker-Hannifin from $610.00 to $650.00 and gave the company an “outperform” rating in a research note on Wednesday, September 4th. Finally, Truist Financial reaffirmed a “buy” rating and set a $673.00 price target (up previously from $621.00) on shares of Parker-Hannifin in a research note on Friday, August 9th. Two investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $624.43.

Insider Buying and Selling at Parker-Hannifin

In other news, VP Berend Bracht sold 850 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was 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 available at the SEC website. In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of the firm’s stock in a transaction that occurred 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 directly owns 3,350 shares in the company, valued at approximately $1,986,282. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Joseph Scaminace sold 1,751 shares of Parker-Hannifin 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 approximately $2,299,947. The disclosure for this sale can be found here. Insiders own 1.03% of the company’s stock.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $591.33 on Monday. The company has a current ratio of 0.93, a quick ratio of 0.55 and a debt-to-equity ratio of 0.59. The firm has a market capitalization of $76.05 billion, a P/E ratio of 27.87, a PEG ratio of 2.37 and a beta of 1.43. The business has a 50-day moving average of $562.14 and a 200-day moving average of $545.12. Parker-Hannifin Co. has a 1 year low of $362.49 and a 1 year high of $601.30.

Parker-Hannifin (NYSE:PH) last issued 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. The firm had revenue of $5.19 billion during 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 business’s revenue for the quarter was up 1.8% on a year-over-year basis. During the same quarter in the previous year, the company earned $6.08 earnings per share. On average, equities analysts anticipate that Parker-Hannifin Co. will post 26.67 EPS for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Wednesday, August 28th were issued a dividend of $1.63 per share. The ex-dividend date was Wednesday, August 28th. This represents a $6.52 annualized dividend and a yield of 1.10%. Parker-Hannifin’s dividend payout ratio is presently 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.