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

Sustainable Insight Capital Management LLC raised its position in Parker-Hannifin Co. (NYSE:PH) by 58.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,300 shares of the industrial products company’s stock after purchasing an additional 1,957 shares during the quarter. Parker-Hannifin comprises 1.3% of Sustainable Insight Capital Management LLC’s investment portfolio, making the stock its 20th biggest position. Sustainable Insight Capital Management LLC’s holdings in Parker-Hannifin were worth $2,681,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the company. Sachetta LLC acquired a new stake in shares of Parker-Hannifin during the 4th quarter worth about $25,000. Addison Advisors LLC purchased a new position in Parker-Hannifin during the second quarter worth about $25,000. First United Bank & Trust acquired a new stake in shares of Parker-Hannifin during the fourth quarter valued at about $29,000. Harbor Investment Advisory LLC raised its stake in shares of Parker-Hannifin by 60.6% in the 1st quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock valued at $29,000 after acquiring an additional 20 shares during the period. Finally, Newbridge Financial Services Group Inc. acquired a new position in shares of Parker-Hannifin in the 4th quarter worth approximately $30,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analyst Ratings Changes

Several analysts recently weighed in on PH shares. Raymond James lifted their target price on shares of Parker-Hannifin from $610.00 to $650.00 and gave the company an “outperform” rating in a report on Wednesday. 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. Deutsche Bank Aktiengesellschaft raised their target price on Parker-Hannifin from $595.00 to $645.00 and gave the company a “buy” rating in a report on Friday, August 9th. Wells Fargo & Company lifted their target price on Parker-Hannifin from $600.00 to $640.00 and gave the company an “overweight” rating in a research report on Friday, August 9th. Finally, Bank of America increased their price target on shares of Parker-Hannifin from $600.00 to $650.00 and gave the stock a “buy” rating in a research report on Friday, May 17th. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average 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 company has a current ratio of 0.93, a quick ratio of 0.55 and a debt-to-equity ratio of 0.59. The company has a fifty day simple moving average of $554.47 and a 200-day simple moving average of $542.92. The stock has a market cap of $73.51 billion, a P/E ratio of 26.94, a price-to-earnings-growth ratio of 2.44 and a beta of 1.43. Parker-Hannifin Co. has a 12-month low of $362.49 and a 12-month high of $601.30.

Parker-Hannifin (NYSE:PH) last announced its quarterly earnings results on Thursday, August 8th. The industrial products company reported $6.77 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $6.22 by $0.55. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. The company had revenue of $5.19 billion during the quarter, compared to the consensus estimate of $5.08 billion. During the same period in the previous year, the business earned $6.08 EPS. Parker-Hannifin’s revenue for the quarter was up 1.8% on a year-over-year basis. Equities analysts expect that Parker-Hannifin Co. will post 26.61 EPS for the current fiscal year.

Parker-Hannifin Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Friday, September 13th. Shareholders of record on Wednesday, August 28th will be issued a dividend of $1.63 per share. The ex-dividend date of this dividend is Wednesday, August 28th. This represents a $6.52 dividend on an annualized basis and a yield of 1.14%. Parker-Hannifin’s payout ratio is currently 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 shares were sold at an average price of $592.92, for a total value of $503,982.00. Following 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 legal filing with the Securities & Exchange Commission, which is available at this link. In other news, VP Berend Bracht sold 850 shares of the business’s stock in a transaction dated 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 sale, 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 document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 owns 3,900 shares in the company, valued at approximately $2,299,947. The disclosure for this sale can be found here. 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.