Transcend Capital Advisors LLC Has $285,000 Stake in Parker-Hannifin Co. (NYSE:PH)

Transcend Capital Advisors LLC trimmed its position in shares of Parker-Hannifin Co. (NYSE:PHGet Rating) by 12.6% during the second quarter, HoldingsChannel reports. The institutional investor owned 1,158 shares of the industrial products company’s stock after selling 167 shares during the period. Transcend Capital Advisors LLC’s holdings in Parker-Hannifin were worth $285,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Mystic Asset Management Inc. acquired a new stake in shares of Parker-Hannifin in the 4th quarter valued at approximately $36,000. MCF Advisors LLC acquired a new stake in shares of Parker-Hannifin in the 1st quarter valued at approximately $35,000. Cyrus J. Lawrence LLC acquired a new stake in Parker-Hannifin during the 1st quarter worth approximately $35,000. FinTrust Capital Advisors LLC acquired a new stake in Parker-Hannifin during the 1st quarter worth approximately $35,000. Finally, City State Bank acquired a new stake in Parker-Hannifin during the 4th quarter worth approximately $42,000. 82.65% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms recently commented on PH. TheStreet downgraded shares of Parker-Hannifin from a “b” rating to a “c+” rating in a research report on Thursday, August 4th. KeyCorp cut their target price on shares of Parker-Hannifin from $385.00 to $335.00 and set an “overweight” rating on the stock in a research report on Tuesday, July 12th. Credit Suisse Group lifted their target price on shares of Parker-Hannifin to $361.00 in a research report on Tuesday, August 9th. Barclays lifted their target price on shares of Parker-Hannifin to $340.00 in a research report on Tuesday, August 9th. Finally, The Goldman Sachs Group lowered their price target on shares of Parker-Hannifin from $346.00 to $287.00 and set a “buy” rating for the company in a report on Thursday, June 23rd. Three equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $333.00.

Parker-Hannifin Stock Performance

NYSE:PH opened at $258.63 on Thursday. The company has a fifty day moving average of $277.92 and a 200-day moving average of $272.10. The firm has a market capitalization of $33.21 billion, a P/E ratio of 25.66, a P/E/G ratio of 1.61 and a beta of 1.57. The company has a quick ratio of 1.68, a current ratio of 2.06 and a debt-to-equity ratio of 1.10. Parker-Hannifin Co. has a twelve month low of $230.44 and a twelve month high of $340.00.

Parker-Hannifin (NYSE:PHGet Rating) last released its quarterly earnings data on Thursday, August 4th. The industrial products company reported $5.16 earnings per share for the quarter, beating the consensus estimate of $4.67 by $0.49. The company had revenue of $4.19 billion during the quarter, compared to analyst estimates of $4.07 billion. Parker-Hannifin had a net margin of 8.29% and a return on equity of 27.81%. Parker-Hannifin’s revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $4.38 EPS. As a group, sell-side analysts anticipate that Parker-Hannifin Co. will post 18.34 EPS for the current year.

Parker-Hannifin Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Monday, August 29th were paid a dividend of $1.33 per share. The ex-dividend date was Friday, August 26th. This represents a $5.32 dividend on an annualized basis and a yield of 2.06%. Parker-Hannifin’s dividend payout ratio (DPR) is presently 52.78%.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, VP Andrew D. Ross sold 3,224 shares of the business’s stock in a transaction on Wednesday, August 10th. The shares were sold at an average price of $296.30, for a total transaction of $955,271.20. Following the completion of the sale, the vice president now owns 9,840 shares in the company, valued at approximately $2,915,592. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 1.30% of the stock is currently owned by company insiders.

Parker-Hannifin Profile

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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 monitor and remove contaminants from fuel, air, oil, water, and other liquids and gases; connectors, which control, transmit, and contain fluid; control solutions for extreme corrosion resistance, temperatures, pressures, and precise flow; and hydraulic, pneumatic, and electromechanical components and systems for builders and users of mobile and industrial machinery and equipment.

Further Reading

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Institutional Ownership by Quarter for Parker-Hannifin (NYSE:PH)

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