First Affirmative Financial Network Buys Shares of 557 Parker-Hannifin Co. (NYSE:PH)

First Affirmative Financial Network purchased a new position in shares of Parker-Hannifin Co. (NYSE:PH) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 557 shares of the industrial products company’s stock, valued at approximately $217,000.

Several other hedge funds have also made changes to their positions in PH. SVB Wealth LLC boosted its position in Parker-Hannifin by 2.4% in the 4th quarter. SVB Wealth LLC now owns 1,220 shares of the industrial products company’s stock valued at $355,000 after buying an additional 29 shares during the period. Personal Capital Advisors Corp boosted its holdings in Parker-Hannifin by 2.6% in the fourth quarter. Personal Capital Advisors Corp now owns 1,166 shares of the industrial products company’s stock valued at $339,000 after purchasing an additional 29 shares during the period. Harvest Fund Management Co. Ltd grew its stake in Parker-Hannifin by 21.1% during the 2nd quarter. Harvest Fund Management Co. Ltd now owns 178 shares of the industrial products company’s stock worth $69,000 after purchasing an additional 31 shares in the last quarter. Evoke Wealth LLC increased its holdings in Parker-Hannifin by 2.2% during the 1st quarter. Evoke Wealth LLC now owns 1,562 shares of the industrial products company’s stock worth $525,000 after purchasing an additional 34 shares during the period. Finally, Daymark Wealth Partners LLC increased its holdings in Parker-Hannifin by 3.0% during the 1st quarter. Daymark Wealth Partners LLC now owns 1,229 shares of the industrial products company’s stock worth $413,000 after purchasing an additional 36 shares during the period. Institutional investors and hedge funds own 82.25% of the company’s stock.

Parker-Hannifin Trading Down 0.8 %

NYSE:PH opened at $392.12 on Friday. The company has a market capitalization of $50.36 billion, a PE ratio of 24.51, a P/E/G ratio of 1.48 and a beta of 1.52. Parker-Hannifin Co. has a 52-week low of $235.69 and a 52-week high of $428.16. The stock’s 50 day moving average price is $406.23 and its 200 day moving average price is $363.21. The company has a quick ratio of 0.51, a current ratio of 0.88 and a debt-to-equity ratio of 0.85.

Parker-Hannifin (NYSE:PH) last announced its earnings results on Thursday, August 3rd. The industrial products company reported $6.08 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $5.48 by $0.60. Parker-Hannifin had a net margin of 10.93% and a return on equity of 29.26%. The business had revenue of $5.10 billion for the quarter, compared to analyst estimates of $5.01 billion. During the same period last year, the firm posted $5.16 earnings per share. The company’s revenue for the quarter was up 21.7% compared to the same quarter last year. On average, research analysts anticipate that Parker-Hannifin Co. will post 22.65 EPS for the current year.

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Monday, August 28th were issued a dividend of $1.48 per share. This represents a $5.92 dividend on an annualized basis and a dividend yield of 1.51%. The ex-dividend date of this dividend was Friday, August 25th. Parker-Hannifin’s dividend payout ratio is currently 37.00%.

Wall Street Analyst Weigh In

PH has been the subject of a number of analyst reports. Stifel Nicolaus reissued a “buy” rating and set a $470.00 price objective on shares of Parker-Hannifin in a research report on Thursday. Robert W. Baird increased their price objective on shares of Parker-Hannifin from $436.00 to $465.00 and gave the company an “outperform” rating in a research report on Thursday, August 3rd. Mizuho lifted their price objective on shares of Parker-Hannifin from $335.00 to $415.00 in a research report on Friday, July 7th. KeyCorp increased their target price on Parker-Hannifin from $450.00 to $460.00 and gave the company an “overweight” rating in a report on Friday, August 4th. Finally, StockNews.com started coverage on Parker-Hannifin in a research note on Friday, August 18th. They issued a “buy” rating on the stock. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, Parker-Hannifin presently has an average rating of “Moderate Buy” and a consensus target price of $436.29.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, EVP Mark J. Hart sold 3,906 shares of Parker-Hannifin stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $417.60, for a total value of $1,631,145.60. Following the transaction, the executive vice president now directly owns 7,063 shares in the company, valued at approximately $2,949,508.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, VP Berend Bracht sold 863 shares of the stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $419.47, for a total transaction of $362,002.61. Following the completion of the transaction, the vice president now directly owns 2,700 shares of the company’s stock, valued at $1,132,569. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Mark J. Hart sold 3,906 shares of the firm’s stock in a transaction dated Friday, August 4th. The shares were sold at an average price of $417.60, for a total transaction of $1,631,145.60. Following the completion of the sale, the executive vice president now owns 7,063 shares of the company’s stock, valued at approximately $2,949,508.80. The disclosure for this sale can be found here. Insiders have sold 12,918 shares of company stock worth $5,385,885 in the last quarter. Company insiders own 1.37% of the company’s stock.

Parker-Hannifin 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.