Vinland Capital Management Gestora de Recursos LTDA. Invests $818,000 in Parker-Hannifin Co. (NYSE:PH)

Vinland Capital Management Gestora de Recursos LTDA. acquired a new stake in shares of Parker-Hannifin Co. (NYSE:PH) during the third quarter, Holdings Channel.com reports. The fund acquired 1,295 shares of the industrial products company’s stock, valued at approximately $818,000. Parker-Hannifin accounts for approximately 1.9% of Vinland Capital Management Gestora de Recursos LTDA.’s portfolio, making the stock its 18th largest holding.

Several other large investors have also recently added to or reduced their stakes in the stock. TD Asset Management Inc increased its stake in shares of Parker-Hannifin by 152.1% in the first quarter. TD Asset Management Inc now owns 132,231 shares of the industrial products company’s stock worth $73,493,000 after acquiring an additional 79,774 shares during the last quarter. Daiwa Securities Group Inc. increased its position in Parker-Hannifin by 8.5% in the 1st quarter. Daiwa Securities Group Inc. now owns 22,960 shares of the industrial products company’s stock worth $12,761,000 after purchasing an additional 1,802 shares during the last quarter. Concurrent Investment Advisors LLC raised its stake in shares of Parker-Hannifin by 261.4% during the 1st quarter. Concurrent Investment Advisors LLC now owns 2,515 shares of the industrial products company’s stock worth $1,397,000 after purchasing an additional 1,819 shares in the last quarter. Oppenheimer Asset Management Inc. lifted its holdings in shares of Parker-Hannifin by 54.1% during the 1st quarter. Oppenheimer Asset Management Inc. now owns 17,165 shares of the industrial products company’s stock valued at $9,540,000 after buying an additional 6,029 shares during the last quarter. Finally, Janney Montgomery Scott LLC grew its stake in shares of Parker-Hannifin by 16.5% in the 1st quarter. Janney Montgomery Scott LLC now owns 42,523 shares of the industrial products company’s stock valued at $23,634,000 after buying an additional 6,013 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on PH shares. Deutsche Bank Aktiengesellschaft raised their price target on shares of 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 raised their target price on Parker-Hannifin from $640.00 to $710.00 and gave the company an “overweight” rating in a report on Monday, October 7th. Truist Financial boosted their price target on Parker-Hannifin from $673.00 to $788.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. KeyCorp raised their price objective on Parker-Hannifin from $640.00 to $725.00 and gave the company an “overweight” rating in a research note on Monday, October 14th. Finally, Raymond James boosted their target price on Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a report on Wednesday, September 4th. Two analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, Parker-Hannifin presently has a consensus rating of “Moderate Buy” and a consensus price target of $660.57.

Parker-Hannifin Stock Performance

NYSE:PH opened at $603.33 on Thursday. The firm’s 50-day moving average is $613.70 and its 200-day moving average is $563.78. The company has a market cap of $77.63 billion, a price-to-earnings ratio of 28.66, a PEG ratio of 2.52 and a beta of 1.43. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.55 and a current ratio of 0.93. Parker-Hannifin Co. has a 52-week low of $362.49 and a 52-week high of $646.60.

Parker-Hannifin (NYSE:PH) last issued its quarterly earnings results on Thursday, August 8th. The industrial products company reported $6.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.22 by $0.55. Parker-Hannifin had a return on equity of 29.08% and a net margin of 14.27%. The firm had revenue of $5.19 billion for the quarter, compared to analyst estimates of $5.08 billion. During the same period in the previous year, the company posted $6.08 earnings per share. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. Equities research analysts anticipate that Parker-Hannifin Co. will post 26.68 earnings per share for the current year.

Parker-Hannifin Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, December 6th. Investors of record on Friday, November 8th will be given a $1.63 dividend. The ex-dividend date of this dividend is Friday, November 8th. This represents a $6.52 annualized dividend and a yield of 1.08%. Parker-Hannifin’s dividend payout ratio (DPR) is currently 29.92%.

Insiders Place Their Bets

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

Parker-Hannifin Company 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.