6,000 Shares in Parker-Hannifin Co. (NYSE:PH) Bought by KP Management LLC

KP Management LLC purchased a new stake in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 6,000 shares of the industrial products company's stock, valued at approximately $3,035,000.

Several other institutional investors have also added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC boosted its holdings in Parker-Hannifin by 77.9% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 2,377 shares of the industrial products company's stock valued at $1,095,000 after acquiring an additional 1,041 shares during the period. Scotia Capital Inc. increased its position in shares of Parker-Hannifin by 7.2% during the fourth quarter. Scotia Capital Inc. now owns 2,097 shares of the industrial products company's stock worth $966,000 after acquiring an additional 141 shares during the period. Jones Financial Companies Lllp boosted its holdings in shares of Parker-Hannifin by 9.2% in the fourth quarter. Jones Financial Companies Lllp now owns 723 shares of the industrial products company's stock valued at $333,000 after purchasing an additional 61 shares during the period. NEOS Investment Management LLC grew its stake in Parker-Hannifin by 65.3% in the fourth quarter. NEOS Investment Management LLC now owns 2,614 shares of the industrial products company's stock worth $1,204,000 after purchasing an additional 1,033 shares in the last quarter. Finally, Rafferty Asset Management LLC increased its holdings in Parker-Hannifin by 5.6% during the 4th quarter. Rafferty Asset Management LLC now owns 10,774 shares of the industrial products company's stock worth $4,964,000 after purchasing an additional 572 shares during the period. Hedge funds and other institutional investors own 82.44% of the company's stock.

Insider Buying and Selling at Parker-Hannifin

In other news, VP Berend Bracht sold 850 shares of the firm's stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $592.92, for a total value of $503,982.00. Following the transaction, the vice president now owns 3,350 shares in the company, valued at $1,986,282. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, VP Berend Bracht sold 850 shares of the firm's stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $592.92, for a total value of $503,982.00. Following the transaction, the vice president now owns 3,350 shares in the company, valued at $1,986,282. 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 firm'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 value of $1,032,617.23. Following the completion of the transaction, the director now owns 3,900 shares in the company, valued at approximately $2,299,947. The disclosure for this sale can be found here. 1.03% of the stock is owned by corporate insiders.

Parker-Hannifin Stock Down 0.4 %

Parker-Hannifin stock traded down $2.64 during midday trading on Wednesday, reaching $627.50. The company's stock had a trading volume of 519,643 shares, compared to its average volume of 650,750. Parker-Hannifin Co. has a 52-week low of $362.49 and a 52-week high of $639.87. The stock has a market capitalization of $80.74 billion, a P/E ratio of 29.64, a PEG ratio of 2.57 and a beta of 1.43. The company has a debt-to-equity ratio of 0.59, a current ratio of 0.93 and a quick ratio of 0.55. The stock's 50-day simple moving average is $581.81 and its 200-day simple moving average is $552.36.

Parker-Hannifin (NYSE:PH - Get Free Report) 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 return on equity of 29.08% and a net margin of 14.27%. The firm had revenue of $5.19 billion during the quarter, compared to analysts' expectations of $5.08 billion. During the same period last year, the business posted $6.08 earnings per share. The company's revenue for the quarter was up 1.8% compared to the same quarter last year. On average, sell-side analysts expect that Parker-Hannifin Co. will post 26.63 EPS for the current year.

Parker-Hannifin Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Wednesday, August 28th were issued a $1.63 dividend. This represents a $6.52 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend was Wednesday, August 28th. Parker-Hannifin's payout ratio is currently 30.73%.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on PH shares. Wells Fargo & Company increased their price target on Parker-Hannifin from $600.00 to $640.00 and gave the stock an "overweight" rating in a research report on Friday, August 9th. StockNews.com downgraded Parker-Hannifin from a "buy" rating to a "hold" rating in a research report on Tuesday, September 24th. Evercore ISI increased their price target on Parker-Hannifin from $620.00 to $656.00 and gave the stock an "outperform" rating in a research report on Monday, August 19th. TD Cowen increased 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. Finally, Raymond James increased their price target on Parker-Hannifin from $610.00 to $650.00 and gave the stock an "outperform" rating in a research report on Wednesday, September 4th. Three analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $636.64.

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.