Mattern Capital Management LLC Buys 921 Shares of Parker-Hannifin Co. (NYSE:PH)

Mattern Capital Management LLC raised its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 8.3% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 11,975 shares of the industrial products company’s stock after buying an additional 921 shares during the quarter. Mattern Capital Management LLC’s holdings in Parker-Hannifin were worth $6,057,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of PH. Fidelis Capital Partners LLC increased its stake in Parker-Hannifin by 2.3% in the first quarter. Fidelis Capital Partners LLC now owns 851 shares of the industrial products company’s stock valued at $473,000 after purchasing an additional 19 shares in the last quarter. Harbor Investment Advisory LLC grew its holdings 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 buying an additional 20 shares during the period. GoalVest Advisory LLC increased its position in shares of Parker-Hannifin by 40.0% in the 1st quarter. GoalVest Advisory LLC now owns 70 shares of the industrial products company’s stock valued at $39,000 after buying an additional 20 shares in the last quarter. American Trust raised its stake in Parker-Hannifin by 3.2% during the 1st quarter. American Trust now owns 649 shares of the industrial products company’s stock worth $361,000 after buying an additional 20 shares during the period. Finally, TFG Advisers LLC lifted its holdings in Parker-Hannifin by 0.9% during the second quarter. TFG Advisers LLC now owns 2,171 shares of the industrial products company’s stock worth $1,098,000 after acquiring an additional 20 shares in the last quarter. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Trading Up 0.3 %

Shares of Parker-Hannifin stock opened at $577.12 on Thursday. The stock has a market cap of $74.22 billion, a P/E ratio of 27.20, a P/E/G ratio of 2.44 and a beta of 1.43. The company has a quick ratio of 0.55, a current ratio of 0.93 and a debt-to-equity ratio of 0.59. Parker-Hannifin Co. has a 12-month low of $362.49 and a 12-month high of $601.30. The business’s 50 day moving average is $551.75 and its 200-day moving average is $542.33.

Parker-Hannifin (NYSE:PH) last posted its quarterly earnings results on Thursday, August 8th. The industrial products company reported $6.77 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.22 by $0.55. Parker-Hannifin had a net margin of 14.27% and a return on equity of 29.08%. 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 prior year, the firm 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 predict that Parker-Hannifin Co. will post 26.61 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, September 13th. Investors of record on Wednesday, August 28th will be issued a dividend of $1.63 per share. This represents a $6.52 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date is Wednesday, August 28th. Parker-Hannifin’s payout ratio is currently 30.73%.

Analysts Set New Price Targets

PH has been the subject of several research analyst reports. Robert W. Baird boosted their price objective on Parker-Hannifin from $622.00 to $654.00 and gave the company an “outperform” rating in a research report on Friday, August 9th. Barclays lowered their price objective on shares of Parker-Hannifin from $618.00 to $610.00 and set an “overweight” rating for the company in a research report on Tuesday, June 4th. Stifel Nicolaus cut their price objective on shares of Parker-Hannifin from $629.00 to $613.00 and set a “buy” rating on the stock in a research report on Thursday, July 18th. Deutsche Bank Aktiengesellschaft increased their target price on Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a report on Friday, August 9th. Finally, Wells Fargo & Company boosted their price target on Parker-Hannifin from $600.00 to $640.00 and gave the company an “overweight” rating in a report on Friday, August 9th. Two equities research analysts have rated the stock with a hold rating and fourteen have given 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 $623.00.

Insiders Place Their Bets

In other Parker-Hannifin news, Director Joseph Scaminace sold 1,751 shares of the firm’s stock in a transaction 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 sale, the director now owns 3,900 shares of the company’s stock, valued at approximately $2,299,947. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, VP Berend Bracht sold 850 shares of the company’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 value of $503,982.00. Following the transaction, the vice president now owns 3,350 shares of the company’s stock, valued at $1,986,282. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, 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 value of $1,032,617.23. Following the sale, the director now directly owns 3,900 shares of the company’s stock, valued at $2,299,947. The disclosure for this sale can be found here. Company insiders own 1.03% 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.