Vinland Capital Management Gestora de Recursos LTDA. Invests $818,000 in Parker-Hannifin Co. (NYSE:PH)

Vinland Capital Management Gestora de Recursos LTDA. acquired a new stake in shares of Parker-Hannifin Co. (NYSE:PH) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 1,295 shares of the industrial products company’s stock, valued at approximately $818,000. Parker-Hannifin comprises about 1.9% of Vinland Capital Management Gestora de Recursos LTDA.’s holdings, making the stock its 18th largest holding.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Catalyst Financial Partners LLC bought a new position in Parker-Hannifin during the 3rd quarter worth $246,000. Financial Advocates Investment Management boosted its holdings in shares of Parker-Hannifin by 14.5% during the third quarter. Financial Advocates Investment Management now owns 3,977 shares of the industrial products company’s stock valued at $2,513,000 after acquiring an additional 504 shares during the period. Cornerstone Wealth Group LLC acquired a new position in shares of Parker-Hannifin during the third quarter valued at $251,000. SteelPeak Wealth LLC grew its position in shares of Parker-Hannifin by 78.4% during the third quarter. SteelPeak Wealth LLC now owns 1,673 shares of the industrial products company’s stock worth $1,057,000 after acquiring an additional 735 shares during the last quarter. Finally, First Trust Direct Indexing L.P. increased its holdings in shares of Parker-Hannifin by 32.3% in the 3rd quarter. First Trust Direct Indexing L.P. now owns 6,158 shares of the industrial products company’s stock worth $3,891,000 after acquiring an additional 1,505 shares during the period. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on PH shares. Mizuho boosted their target price on shares of Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. StockNews.com upgraded Parker-Hannifin from a “hold” rating to a “buy” rating in a research report on Saturday, October 12th. Evercore ISI increased their price objective on Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a report on Monday, August 19th. Robert W. Baird lifted their target price on Parker-Hannifin from $622.00 to $654.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Finally, TD Cowen boosted their price target on Parker-Hannifin from $500.00 to $520.00 and gave the stock a “hold” rating in a research report on Wednesday, September 11th. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. Based on data from MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and a consensus target price of $660.57.

Insider Buying and Selling

In other news, Director Joseph Scaminace sold 1,751 shares of the company’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 completion of the sale, the director now directly owns 3,900 shares of the company’s stock, valued at $2,299,947. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of Parker-Hannifin 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 transaction, the vice president now directly owns 3,350 shares in the company, valued at approximately $1,986,282. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Joseph Scaminace sold 1,751 shares of the 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 $2,299,947. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders own 0.39% of the company’s stock.

Parker-Hannifin Price Performance

NYSE:PH opened at $603.33 on Thursday. Parker-Hannifin Co. has a 52-week low of $362.49 and a 52-week high of $646.60. The company has a quick ratio of 0.55, a current ratio of 0.93 and a debt-to-equity ratio of 0.59. The firm has a market cap of $77.63 billion, a P/E ratio of 28.66, a PEG ratio of 2.52 and a beta of 1.43. The business’s 50-day moving average price is $613.70 and its 200 day moving average price is $563.78.

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, topping 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 for the quarter, compared to analysts’ expectations of $5.08 billion. During the same quarter in the previous year, the company posted $6.08 EPS. The business’s revenue was up 1.8% compared to the same quarter last year. As a group, sell-side analysts predict that Parker-Hannifin Co. will post 26.68 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, December 6th. Stockholders of record on Friday, November 8th will be paid a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.08%. The ex-dividend date of this dividend is Friday, November 8th. Parker-Hannifin’s dividend payout ratio is presently 29.92%.

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.