Magnolia Capital Advisors LLC Takes Position in Parker-Hannifin Co. (NYSE:PH)

Magnolia Capital Advisors LLC acquired a new position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 22,002 shares of the industrial products company's stock, valued at approximately $11,129,000.

A number of other institutional investors also recently made changes to their positions in PH. Fidelis Capital Partners LLC raised its holdings in Parker-Hannifin by 2.3% during the 1st quarter. Fidelis Capital Partners LLC now owns 851 shares of the industrial products company's stock worth $473,000 after purchasing an additional 19 shares during the last quarter. Harbor Investment Advisory LLC boosted its position in Parker-Hannifin by 60.6% during the first 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 during the last quarter. GoalVest Advisory LLC grew its holdings in Parker-Hannifin by 40.0% during the 1st quarter. GoalVest Advisory LLC now owns 70 shares of the industrial products company's stock worth $39,000 after acquiring an additional 20 shares during the period. American Trust raised its position in shares of Parker-Hannifin by 3.2% in the 1st quarter. American Trust now owns 649 shares of the industrial products company's stock worth $361,000 after acquiring an additional 20 shares in the last quarter. Finally, TFG Advisers LLC lifted its stake in shares of Parker-Hannifin by 0.9% in the 2nd quarter. TFG Advisers LLC now owns 2,171 shares of the industrial products company's stock valued at $1,098,000 after purchasing an additional 20 shares during the period. Institutional investors own 82.44% of the company's stock.

Insider Activity

In related news, Director Joseph Scaminace sold 1,751 shares of the company'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 sale, the director now directly owns 3,900 shares in the company, valued at approximately $2,299,947. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, VP Berend Bracht sold 850 shares of Parker-Hannifin 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 completion of 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 filing with the Securities & Exchange Commission, which is available through this link. Also, 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 value of $1,032,617.23. Following the completion of the transaction, the director now owns 3,900 shares in the company, valued at $2,299,947. The disclosure for this sale can be found here. Insiders own 1.03% of the company's stock.

Parker-Hannifin Stock Down 0.4 %

PH traded down $2.63 during midday trading on Friday, reaching $632.77. 580,276 shares of the company were exchanged, compared to its average volume of 526,255. The company has a market cap of $81.42 billion, a price-to-earnings ratio of 29.82, a price-to-earnings-growth ratio of 2.54 and a beta of 1.43. Parker-Hannifin Co. has a one year low of $362.49 and a one year high of $639.87. The company's fifty day moving average price is $578.64 and its 200 day moving average price is $550.94. 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 - Get Free Report) last released its quarterly earnings results on Thursday, August 8th. The industrial products company reported $6.77 EPS for the quarter, beating analysts' consensus estimates of $6.22 by $0.55. The business had revenue of $5.19 billion during the quarter, compared to analyst estimates of $5.08 billion. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. Parker-Hannifin's quarterly revenue was up 1.8% compared to the same quarter last year. During the same period in the prior year, the firm posted $6.08 EPS. As a group, analysts expect that Parker-Hannifin Co. will post 26.63 EPS for the current year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Wednesday, August 28th were paid a $1.63 dividend. The ex-dividend date of this dividend was Wednesday, August 28th. This represents a $6.52 annualized dividend and a dividend yield of 1.03%. Parker-Hannifin's payout ratio is presently 30.73%.

Analyst Ratings Changes

Several research firms recently commented on PH. Deutsche Bank Aktiengesellschaft raised their target price on Parker-Hannifin from $595.00 to $645.00 and gave the stock a "buy" rating in a research note on Friday, August 9th. TD Cowen lifted their price objective on shares of Parker-Hannifin from $500.00 to $520.00 and gave the company a "hold" rating in a research note on Wednesday, September 11th. Barclays cut their target price on shares of Parker-Hannifin from $618.00 to $610.00 and set an "overweight" rating on the stock in a research note on Tuesday, June 4th. Evercore ISI raised their price target on shares of Parker-Hannifin from $620.00 to $656.00 and gave the stock an "outperform" rating in a report on Monday, August 19th. Finally, Wells Fargo & Company upped their price objective on shares of Parker-Hannifin from $600.00 to $640.00 and gave the company an "overweight" rating in a report on Friday, August 9th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat.com, Parker-Hannifin currently has a consensus rating of "Moderate Buy" and an average price target 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.