Raub Brock Capital Management LP Lowers Holdings in Parker-Hannifin Co. (NYSE:PH)

Raub Brock Capital Management LP lessened its holdings in Parker-Hannifin Co. (NYSE:PH) by 2.6% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 34,160 shares of the industrial products company’s stock after selling 903 shares during the quarter. Parker-Hannifin accounts for approximately 4.4% of Raub Brock Capital Management LP’s holdings, making the stock its 8th biggest holding. Raub Brock Capital Management LP’s holdings in Parker-Hannifin were worth $21,583,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. 1832 Asset Management L.P. increased its position in shares of Parker-Hannifin by 305.0% during the 1st quarter. 1832 Asset Management L.P. now owns 307,794 shares of the industrial products company’s stock worth $171,069,000 after purchasing an additional 231,788 shares in the last quarter. AMF Tjanstepension AB increased its holdings in shares of Parker-Hannifin by 23.0% during the second quarter. AMF Tjanstepension AB now owns 758,262 shares of the industrial products company’s stock worth $383,594,000 after buying an additional 141,862 shares in the last quarter. Mackenzie Financial Corp increased its holdings in shares of Parker-Hannifin by 107.7% during the second quarter. Mackenzie Financial Corp now owns 271,717 shares of the industrial products company’s stock worth $137,437,000 after buying an additional 140,898 shares in the last quarter. Swedbank AB raised its stake in shares of Parker-Hannifin by 377.8% in the third quarter. Swedbank AB now owns 158,085 shares of the industrial products company’s stock valued at $99,881,000 after acquiring an additional 125,000 shares during the last quarter. Finally, DekaBank Deutsche Girozentrale boosted its holdings in shares of Parker-Hannifin by 32.8% in the 1st quarter. DekaBank Deutsche Girozentrale now owns 466,791 shares of the industrial products company’s stock worth $258,971,000 after acquiring an additional 115,234 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin 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 completion of the sale, the vice president now owns 3,350 shares in the company, valued at $1,986,282. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, VP Berend Bracht sold 850 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $592.92, for a total transaction 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 trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Joseph Scaminace sold 1,751 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $589.73, for a total value of $1,032,617.23. Following the completion of the sale, the director now owns 3,900 shares in the company, valued at approximately $2,299,947. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.39% of the company’s stock.

Analysts Set New Price Targets

PH has been the subject of several research analyst reports. Evercore ISI lifted their price objective on Parker-Hannifin from $620.00 to $656.00 and gave the company an “outperform” rating in a research report on Monday, August 19th. Truist Financial lifted their price target on Parker-Hannifin from $673.00 to $788.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. StockNews.com raised shares of Parker-Hannifin from a “hold” rating to a “buy” rating in a report on Saturday, October 12th. Robert W. Baird boosted their target price on shares of Parker-Hannifin from $622.00 to $654.00 and gave the stock an “outperform” rating in a research note on Friday, August 9th. Finally, Wells Fargo & Company increased their price target on shares of Parker-Hannifin from $640.00 to $710.00 and gave the company an “overweight” rating in a research note on Monday, October 7th. Two equities research analysts have rated the stock with a hold rating and fourteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $660.57.

Parker-Hannifin Trading Up 0.1 %

NYSE PH opened at $640.44 on Friday. Parker-Hannifin Co. has a 52 week low of $362.49 and a 52 week high of $646.60. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.55 and a current ratio of 0.93. The stock’s 50 day moving average price is $606.31 and its two-hundred day moving average price is $559.86. The stock has a market capitalization of $82.41 billion, a price-to-earnings ratio of 29.39, a PEG ratio of 2.61 and a beta of 1.43.

Parker-Hannifin (NYSE:PH) last released its earnings results on Thursday, August 8th. The industrial products company reported $6.77 earnings per share for the quarter, beating analysts’ consensus estimates of $6.22 by $0.55. Parker-Hannifin had a net margin of 14.27% and a return on equity of 29.08%. The business had revenue of $5.19 billion during the quarter, compared to the consensus estimate of $5.08 billion. During the same quarter last year, the firm earned $6.08 earnings per share. The firm’s revenue for the quarter was up 1.8% compared to the same quarter last year. As a group, analysts anticipate that Parker-Hannifin Co. will post 26.64 earnings per share for the current fiscal year.

Parker-Hannifin Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, September 13th. Shareholders of record on Wednesday, August 28th were given a dividend of $1.63 per share. This represents a $6.52 annualized dividend and a dividend yield of 1.02%. The ex-dividend date of this dividend was Wednesday, August 28th. Parker-Hannifin’s dividend payout ratio (DPR) is 29.92%.

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.