TL Private Wealth Sells 1,845 Shares of Parker-Hannifin Co. (NYSE:PH)

TL Private Wealth lessened its holdings in shares of Parker-Hannifin Co. (NYSE:PH) by 75.0% during the second quarter, HoldingsChannel.com reports. The institutional investor owned 615 shares of the industrial products company’s stock after selling 1,845 shares during the period. TL Private Wealth’s holdings in Parker-Hannifin were worth $241,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of PH. Retireful LLC purchased a new position in shares of Parker-Hannifin in the 2nd quarter worth about $1,788,000. Czech National Bank raised its position in shares of Parker-Hannifin by 0.5% in the 2nd quarter. Czech National Bank now owns 15,187 shares of the industrial products company’s stock worth $5,924,000 after purchasing an additional 77 shares during the last quarter. First Affirmative Financial Network purchased a new position in shares of Parker-Hannifin in the 2nd quarter worth about $217,000. Trust Co. of Toledo NA OH purchased a new position in shares of Parker-Hannifin in the 2nd quarter worth about $208,000. Finally, SG Americas Securities LLC raised its position in shares of Parker-Hannifin by 1,427.0% in the 2nd quarter. SG Americas Securities LLC now owns 11,483 shares of the industrial products company’s stock worth $4,479,000 after purchasing an additional 10,731 shares during the last quarter. Institutional investors own 82.25% of the company’s stock.

Insider Activity at Parker-Hannifin

In related news, CFO Todd M. Leombruno sold 5,002 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $416.11, for a total transaction of $2,081,382.22. Following the completion of the transaction, the chief financial officer now directly owns 11,656 shares in the company, valued at approximately $4,850,178.16. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CFO Todd M. Leombruno sold 5,002 shares of the business’s stock in a transaction that occurred on Tuesday, August 29th. The stock was sold at an average price of $416.11, for a total transaction of $2,081,382.22. Following the completion of the transaction, the chief financial officer now directly owns 11,656 shares in the company, valued at approximately $4,850,178.16. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, EVP Mark J. Hart sold 3,906 shares of the company’s 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 completion of the transaction, the executive vice president now owns 7,063 shares of the company’s stock, valued at $2,949,508.80. The disclosure for this sale can be found here. In the last ninety days, insiders sold 12,918 shares of company stock worth $5,385,885. 1.37% of the stock is owned by company insiders.

Parker-Hannifin Price Performance

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

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

Parker-Hannifin Announces Dividend

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

Analysts Set New Price Targets

PH has been the subject of several recent analyst reports. Robert W. Baird lifted their price target on Parker-Hannifin from $436.00 to $465.00 and gave the stock an “outperform” rating in a research report on Thursday, August 3rd. Argus boosted their target price on Parker-Hannifin from $390.00 to $460.00 in a research report on Friday, August 4th. KeyCorp boosted their target price on Parker-Hannifin from $450.00 to $460.00 and gave the stock an “overweight” rating in a research report on Friday, August 4th. Mizuho boosted their target price on Parker-Hannifin from $335.00 to $415.00 in a research report on Friday, July 7th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $470.00 target price on shares of Parker-Hannifin in a research report on Thursday. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Parker-Hannifin has a consensus rating of “Moderate Buy” and a consensus price target of $436.29.

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.