Davidson Capital Management Inc. Decreases Stock Position in Parker-Hannifin Co. (NYSE:PH)

Davidson Capital Management Inc. cut its holdings in Parker-Hannifin Co. (NYSE:PH) by 1.0% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,613 shares of the industrial products company’s stock after selling 55 shares during the period. Parker-Hannifin comprises about 1.0% of Davidson Capital Management Inc.’s holdings, making the stock its 16th largest position. Davidson Capital Management Inc.’s holdings in Parker-Hannifin were worth $3,546,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Miracle Mile Advisors LLC raised its stake in Parker-Hannifin by 7.9% in the 1st quarter. Miracle Mile Advisors LLC now owns 709 shares of the industrial products company’s stock valued at $394,000 after purchasing an additional 52 shares during the last quarter. State of Alaska Department of Revenue raised its stake in Parker-Hannifin by 0.4% in the 1st quarter. State of Alaska Department of Revenue now owns 13,925 shares of the industrial products company’s stock valued at $7,739,000 after purchasing an additional 50 shares during the last quarter. Redmont Wealth Advisors LLC acquired a new position in shares of Parker-Hannifin during the 1st quarter valued at about $41,000. Norden Group LLC acquired a new position in shares of Parker-Hannifin during the 1st quarter valued at about $3,849,000. Finally, Kovack Advisors Inc. acquired a new position in shares of Parker-Hannifin during the 1st quarter valued at about $258,000. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Evercore ISI increased their target price on shares of Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Barclays increased their target price on Parker-Hannifin from $650.00 to $703.00 and gave the company an “overweight” rating in a research note on Wednesday, October 2nd. Wells Fargo & Company increased their target price on Parker-Hannifin from $640.00 to $710.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Mizuho increased their target price on Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a research note on Thursday, October 17th. Finally, Robert W. Baird increased 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. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $660.57.

Parker-Hannifin Stock Performance

NYSE PH traded down $0.95 during trading hours on Tuesday, hitting $622.70. The company had a trading volume of 178,416 shares, compared to its average volume of 631,478. Parker-Hannifin Co. has a fifty-two week low of $362.49 and a fifty-two 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 business has a fifty day simple moving average of $612.07 and a 200-day simple moving average of $562.82. The firm has a market cap of $80.12 billion, a P/E ratio of 28.32, a price-to-earnings-growth ratio of 2.52 and a beta of 1.43.

Parker-Hannifin (NYSE:PH) last announced 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. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. The business had revenue of $5.19 billion during the quarter, compared to analysts’ expectations of $5.08 billion. During the same quarter last year, the business posted $6.08 earnings per share. The company’s quarterly revenue was up 1.8% on a year-over-year basis. Equities analysts predict that Parker-Hannifin Co. will post 26.68 EPS for the current year.

Parker-Hannifin Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 8th will be given a $1.63 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $6.52 dividend on an annualized basis and a dividend yield of 1.05%. Parker-Hannifin’s dividend payout ratio (DPR) is 29.92%.

Insiders Place Their Bets

In other news, VP Berend Bracht sold 850 shares of the firm’s stock in a transaction dated 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 directly owns 3,350 shares of the company’s stock, valued at $1,986,282. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Joseph Scaminace sold 1,751 shares of the firm’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 value of $1,032,617.23. Following the transaction, the director now directly owns 3,900 shares of the company’s stock, valued at approximately $2,299,947. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Berend Bracht sold 850 shares of the firm’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 transaction, the vice president now directly owns 3,350 shares in the company, valued at $1,986,282. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.39% of the company’s stock.

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.