Dimensional Fund Advisors LP Sells 32,024 Shares of Parker-Hannifin Co. (NYSE:PH)

Dimensional Fund Advisors LP lessened its stake in shares of Parker-Hannifin Co. (NYSE:PH) by 4.2% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 726,721 shares of the industrial products company’s stock after selling 32,024 shares during the quarter. Dimensional Fund Advisors LP’s holdings in Parker-Hannifin were worth $367,587,000 as of its most recent filing with the SEC.

Other large investors also recently made changes to their positions in the company. Sachetta LLC bought a new stake in shares of Parker-Hannifin during the 4th quarter worth about $25,000. Addison Advisors LLC bought a new stake in shares of Parker-Hannifin during the 2nd quarter worth about $25,000. Harbor Investment Advisory LLC lifted its position in shares of Parker-Hannifin by 60.6% during the 1st quarter. Harbor Investment Advisory LLC now owns 53 shares of the industrial products company’s stock worth $29,000 after purchasing an additional 20 shares during the last quarter. Newbridge Financial Services Group Inc. acquired a new position in shares of Parker-Hannifin during the 4th quarter worth about $30,000. Finally, Northwest Investment Counselors LLC acquired a new position in shares of Parker-Hannifin during the 1st quarter worth about $31,000. Institutional investors own 82.44% of the company’s stock.

Insider Activity

In other news, Director Joseph Scaminace sold 1,751 shares of the company’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 sale, the director now directly owns 3,900 shares in the company, valued at approximately $2,299,947. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In related news, VP Berend Bracht sold 850 shares of the firm’s stock in a transaction 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 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Joseph Scaminace sold 1,751 shares of the firm’s 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 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. Corporate insiders own 1.03% of the company’s stock.

Analyst Upgrades and Downgrades

PH has been the subject of several research analyst reports. Raymond James boosted their price objective on Parker-Hannifin from $610.00 to $650.00 and gave the stock an “outperform” rating in a research report on Wednesday, September 4th. Evercore ISI boosted their price objective on Parker-Hannifin from $620.00 to $656.00 and gave the stock an “outperform” rating in a research report on Monday, August 19th. Deutsche Bank Aktiengesellschaft boosted their price objective on Parker-Hannifin from $595.00 to $645.00 and gave the stock a “buy” rating in a research report on Friday, August 9th. Robert W. Baird boosted their price objective on Parker-Hannifin from $622.00 to $654.00 and gave the stock an “outperform” rating in a research report on Friday, August 9th. Finally, Wells Fargo & Company boosted their price objective on Parker-Hannifin from $600.00 to $640.00 and gave the stock an “overweight” rating in a research report on Friday, August 9th. Two research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $624.43.

Parker-Hannifin Trading Up 1.0 %

Parker-Hannifin stock opened at $597.09 on Tuesday. The business has a 50 day moving average price of $563.90 and a two-hundred day moving average price of $545.56. The company has a quick ratio of 0.55, a current ratio of 0.93 and a debt-to-equity ratio of 0.59. The stock has a market cap of $76.75 billion, a price-to-earnings ratio of 28.14, a price-to-earnings-growth ratio of 2.39 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 released 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. 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 for the quarter, compared to analyst estimates of $5.08 billion. During the same period in the prior year, the company posted $6.08 EPS. The company’s revenue was up 1.8% compared to the same quarter last year. As a group, equities analysts forecast that Parker-Hannifin Co. will post 26.63 EPS for the current year.

Parker-Hannifin Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Wednesday, August 28th were paid a $1.63 dividend. The ex-dividend date was Wednesday, August 28th. This represents a $6.52 annualized dividend and a dividend yield of 1.09%. Parker-Hannifin’s dividend payout ratio is currently 30.73%.

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.