Sustainable Insight Capital Management LLC Raises Holdings in Parker-Hannifin Co. (NYSE:PH)

Sustainable Insight Capital Management LLC increased its stake in Parker-Hannifin Co. (NYSE:PH) by 58.5% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,300 shares of the industrial products company’s stock after purchasing an additional 1,957 shares during the period. Parker-Hannifin accounts for about 1.3% of Sustainable Insight Capital Management LLC’s portfolio, making the stock its 20th largest position. Sustainable Insight Capital Management LLC’s holdings in Parker-Hannifin were worth $2,681,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently bought and sold shares of the stock. Addison Advisors LLC acquired a new position in shares of Parker-Hannifin in the second quarter valued at about $25,000. Harbor Investment Advisory LLC increased its holdings in Parker-Hannifin by 60.6% in the 1st 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. Sachetta LLC purchased a new position in Parker-Hannifin during the 4th quarter worth approximately $25,000. Northwest Investment Counselors LLC acquired a new stake in Parker-Hannifin during the 1st quarter valued at approximately $31,000. Finally, First United Bank & Trust purchased a new stake in shares of Parker-Hannifin in the 4th quarter valued at $29,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Mizuho raised shares of Parker-Hannifin from a “neutral” rating to a “buy” rating and raised their target price for the stock from $550.00 to $650.00 in a report on Tuesday, May 28th. Robert W. Baird lifted their price objective on Parker-Hannifin from $622.00 to $654.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Evercore ISI boosted their price objective on Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a report on Monday, August 19th. Stifel Nicolaus dropped their target price on Parker-Hannifin from $629.00 to $613.00 and set a “buy” rating on the stock in a report on Thursday, July 18th. Finally, Wells Fargo & Company lifted their price target on Parker-Hannifin from $600.00 to $640.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. Based on data from MarketBeat, Parker-Hannifin has a consensus rating of “Moderate Buy” and a consensus price target of $623.00.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $571.64 on Friday. The stock has a market capitalization of $73.51 billion, a P/E ratio of 26.94, a P/E/G ratio of 2.44 and a beta of 1.43. The company’s fifty day moving average price is $554.47 and its 200 day moving average price is $542.92. 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 Co. has a 1 year low of $362.49 and a 1 year high of $601.30.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, August 8th. The industrial products company reported $6.77 earnings per share (EPS) 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 company’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter last year, the business earned $6.08 earnings per share. As a group, equities research analysts anticipate that Parker-Hannifin Co. will post 26.61 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 13th. Stockholders of record on Wednesday, August 28th will be given a $1.63 dividend. The ex-dividend date is Wednesday, August 28th. This represents a $6.52 annualized dividend and a dividend yield of 1.14%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 30.73%.

Insider Transactions at Parker-Hannifin

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

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.