Kowal Investment Group LLC Has $1.30 Million Stake in Parker-Hannifin Co. (NYSE:PH)

Kowal Investment Group LLC lifted its holdings in Parker-Hannifin Co. (NYSE:PH) by 24.4% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,057 shares of the industrial products company’s stock after purchasing an additional 403 shares during the period. Kowal Investment Group LLC’s holdings in Parker-Hannifin were worth $1,300,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in PH. Vanguard Group Inc. grew its stake in shares of Parker-Hannifin by 1.0% in the first quarter. Vanguard Group Inc. now owns 10,566,391 shares of the industrial products company’s stock worth $5,872,694,000 after acquiring an additional 105,475 shares during the last quarter. Boston Partners boosted its holdings in Parker-Hannifin by 4.1% in the 1st quarter. Boston Partners now owns 1,111,720 shares of the industrial products company’s stock valued at $617,878,000 after purchasing an additional 43,535 shares during the period. Legal & General Group Plc boosted its holdings in Parker-Hannifin by 1.3% in the 2nd quarter. Legal & General Group Plc now owns 985,280 shares of the industrial products company’s stock valued at $498,366,000 after purchasing an additional 12,615 shares during the period. AMF Tjanstepension AB grew its position in Parker-Hannifin by 23.0% in the 2nd quarter. AMF Tjanstepension AB now owns 758,262 shares of the industrial products company’s stock worth $383,594,000 after purchasing an additional 141,862 shares during the last quarter. Finally, Bank of Montreal Can increased its holdings in shares of Parker-Hannifin by 11.6% during the 2nd quarter. Bank of Montreal Can now owns 735,755 shares of the industrial products company’s stock worth $378,572,000 after purchasing an additional 76,629 shares during the period. Institutional investors own 82.44% of the company’s stock.

Parker-Hannifin Stock Performance

NYSE PH opened at $637.48 on Thursday. The company has a 50 day moving average of $603.46 and a 200-day moving average of $558.68. Parker-Hannifin Co. has a 1-year low of $362.49 and a 1-year high of $646.60. The firm has a market cap of $81.94 billion, a price-to-earnings ratio of 30.04, a PEG ratio of 2.57 and a beta of 1.43. The company has a current ratio of 0.93, a quick ratio of 0.55 and a debt-to-equity ratio of 0.59.

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. 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 during the quarter, compared to analysts’ expectations of $5.08 billion. During the same quarter last year, the company posted $6.08 EPS. The company’s quarterly revenue was up 1.8% compared to the same quarter last year. On average, equities analysts forecast that Parker-Hannifin Co. will post 26.64 earnings per share for the current fiscal year.

Parker-Hannifin Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 13th. Stockholders of record on Wednesday, August 28th were paid 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 presently 30.73%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on PH shares. Truist Financial lifted their target price on Parker-Hannifin from $673.00 to $788.00 and gave the stock a “buy” rating in a research report on Wednesday, October 9th. Stifel Nicolaus upped their target price on Parker-Hannifin from $633.00 to $691.00 and gave the company a “buy” rating in a research note on Wednesday, October 2nd. TD Cowen lifted their price target on shares of Parker-Hannifin from $500.00 to $520.00 and gave the stock a “hold” rating in a research note on Wednesday, September 11th. Raymond James boosted their price target on shares of Parker-Hannifin from $610.00 to $650.00 and gave the company an “outperform” rating in a report on Wednesday, September 4th. Finally, KeyCorp raised their price objective on shares of Parker-Hannifin from $640.00 to $725.00 and gave the stock an “overweight” rating in a report on Monday. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $655.93.

Insider Activity at Parker-Hannifin

In other Parker-Hannifin news, VP Berend Bracht sold 850 shares of the business’s stock in a transaction dated 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 trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In related news, Director Joseph Scaminace sold 1,751 shares of the company’s stock in a transaction dated 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 completion of the sale, the director now owns 3,900 shares in the company, valued at approximately $2,299,947. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Berend Bracht sold 850 shares of the stock in a transaction dated 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 transaction, the vice president now directly owns 3,350 shares in the company, valued at $1,986,282. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 1.03% of the stock is owned by company 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.