Parker-Hannifin Co. (NYSE:PH) Shares Sold by Dana Investment Advisors Inc.

Dana Investment Advisors Inc. lessened its stake in Parker-Hannifin Co. (NYSE:PH - Free Report) by 11.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 33,136 shares of the industrial products company's stock after selling 4,234 shares during the period. Dana Investment Advisors Inc.'s holdings in Parker-Hannifin were worth $16,761,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the stock. Addison Advisors LLC acquired a new stake in shares of Parker-Hannifin during the second quarter worth about $25,000. Harbor Investment Advisory LLC boosted its stake in shares of Parker-Hannifin by 60.6% during the first quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company's stock worth $29,000 after buying an additional 20 shares during the period. Newbridge Financial Services Group Inc. acquired a new stake in shares of Parker-Hannifin during the fourth quarter worth about $30,000. Northwest Investment Counselors LLC acquired a new stake in shares of Parker-Hannifin during the first quarter worth about $31,000. Finally, Fortitude Family Office LLC boosted its stake in shares of Parker-Hannifin by 346.7% during the second quarter. Fortitude Family Office LLC now owns 67 shares of the industrial products company's stock worth $34,000 after buying an additional 52 shares during the period. Institutional investors and hedge funds own 82.44% of the company's stock.

Parker-Hannifin Trading Down 0.3 %

Shares of PH traded down $1.68 during mid-day trading on Tuesday, reaching $630.14. The company had a trading volume of 370,188 shares, compared to its average volume of 651,444. The stock has a market cap of $81.00 billion, a price-to-earnings ratio of 29.70, a price-to-earnings-growth ratio of 2.54 and a beta of 1.43. The firm has a fifty day simple moving average of $581.81 and a 200-day simple moving average of $552.36. Parker-Hannifin Co. has a fifty-two week low of $362.49 and a fifty-two week high of $639.87. The company has a current ratio of 0.93, a quick ratio of 0.55 and a debt-to-equity ratio of 0.59.

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

Parker-Hannifin Announces Dividend

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

Analysts Set New Price Targets

A number of equities research analysts recently commented on PH shares. Raymond James raised their price objective 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. Robert W. Baird raised their price objective on shares of Parker-Hannifin from $622.00 to $654.00 and gave the company an "outperform" rating in a research report on Friday, August 9th. StockNews.com downgraded shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research report on Tuesday, September 24th. Evercore ISI raised their price objective 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, Barclays reduced their price objective on shares of Parker-Hannifin from $618.00 to $610.00 and set an "overweight" rating for the company in a research report on Tuesday, June 4th. Three investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $624.43.

Insider Buying and Selling

In other news, Director Joseph Scaminace sold 1,751 shares of the business's stock in a transaction dated 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 Securities & Exchange Commission, which is available through the SEC website. In related news, VP Berend Bracht sold 850 shares of the business'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 completion of the sale, the vice president now owns 3,350 shares of the company's stock, valued at approximately $1,986,282. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Joseph Scaminace sold 1,751 shares of the business's stock in a transaction dated 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 transaction, the director now directly owns 3,900 shares of the company's stock, valued at $2,299,947. The disclosure for this sale can be found here. 1.03% of the stock is currently owned by insiders.

Parker-Hannifin Company 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.