Little House Capital LLC Makes New Investment in Parker-Hannifin Co. (NYSE:PH)

Little House Capital LLC bought a new position in Parker-Hannifin Co. (NYSE:PH) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 1,288 shares of the industrial products company’s stock, valued at approximately $814,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in PH. Buckley Wealth Management LLC acquired a new position in shares of Parker-Hannifin during the 3rd quarter worth $569,000. Trinity Wealth Management LLC acquired a new position in shares of Parker-Hannifin during the 3rd quarter worth $231,000. West Branch Capital LLC acquired a new position in shares of Parker-Hannifin during the 3rd quarter worth $25,000. OLD National Bancorp IN acquired a new position in shares of Parker-Hannifin during the 3rd quarter worth $330,000. Finally, Cedrus LLC acquired a new position in shares of Parker-Hannifin during the 3rd quarter worth $277,000. Hedge funds and other institutional investors own 82.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PH shares. Robert W. Baird raised their target price on shares of Parker-Hannifin from $622.00 to $654.00 and gave the company an “outperform” rating in a research note on Friday, August 9th. Mizuho raised their target price on shares of Parker-Hannifin from $665.00 to $715.00 and gave the company an “outperform” rating in a research note on Thursday. TD Cowen increased their price target on shares of Parker-Hannifin from $500.00 to $520.00 and gave the company a “hold” rating in a report on Wednesday, September 11th. Truist Financial increased their price target on shares of Parker-Hannifin from $673.00 to $788.00 and gave the company a “buy” rating in a report on Wednesday, October 9th. Finally, Stifel Nicolaus raised their price objective on shares of Parker-Hannifin from $633.00 to $691.00 and gave the stock a “buy” rating in a report on Wednesday, October 2nd. Two analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $660.57.

Parker-Hannifin Price Performance

PH traded down $0.19 during midday trading on Monday, hitting $640.25. The company had a trading volume of 152,520 shares, compared to its average volume of 635,883. 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 company has a market capitalization of $82.30 billion, a PE ratio of 30.18, a P/E/G ratio of 2.61 and a beta of 1.43. Parker-Hannifin Co. has a twelve month low of $362.49 and a twelve month high of $646.60. The firm’s 50-day simple moving average is $606.31 and its 200-day simple moving average is $559.96.

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

Parker-Hannifin Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders 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 is 30.73%.

Insider Transactions at Parker-Hannifin

In other news, VP Berend Bracht sold 850 shares of Parker-Hannifin stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $592.92, for a total transaction 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. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Joseph Scaminace sold 1,751 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were 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 approximately $2,299,947. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Berend Bracht sold 850 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $592.92, for a total transaction of $503,982.00. Following the transaction, the vice president now owns 3,350 shares of the company’s stock, valued at approximately $1,986,282. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.03% of the stock is owned by corporate insiders.

Parker-Hannifin 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.