Bulltick Wealth Management LLC Has $5.05 Million Position in Parker-Hannifin Co. (NYSE:PH)

Bulltick Wealth Management LLC trimmed its holdings in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 22.6% in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 7,943 shares of the industrial products company's stock after selling 2,321 shares during the period. Parker-Hannifin comprises approximately 1.2% of Bulltick Wealth Management LLC's investment portfolio, making the stock its 22nd biggest position. Bulltick Wealth Management LLC's holdings in Parker-Hannifin were worth $5,052,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in PH. Whipplewood Advisors LLC purchased a new stake in shares of Parker-Hannifin in the fourth quarter valued at $25,000. Aster Capital Management DIFC Ltd purchased a new position in Parker-Hannifin during the 4th quarter valued at about $25,000. Millstone Evans Group LLC acquired a new stake in shares of Parker-Hannifin during the fourth quarter worth approximately $30,000. Bank of New Hampshire purchased a new position in Parker-Hannifin during the fourth quarter valued at approximately $35,000. Finally, Kestra Investment Management LLC acquired a new position in Parker-Hannifin in the 4th quarter valued at approximately $40,000. Institutional investors and hedge funds own 82.44% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on PH. Evercore ISI lifted their price objective on Parker-Hannifin from $777.00 to $824.00 and gave the company an "outperform" rating in a research report on Wednesday, February 19th. Truist Financial dropped their price objective on Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. UBS Group reduced their target price on shares of Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating for the company in a research note on Friday, January 31st. StockNews.com lowered shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research note on Wednesday, March 19th. Finally, Stifel Nicolaus upped their price objective on shares of Parker-Hannifin from $564.00 to $630.00 and gave the stock a "hold" rating in a report on Friday, May 2nd. Four research analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $710.12.

Parker-Hannifin Stock Performance

Shares of NYSE PH traded up $6.10 during mid-day trading on Friday, hitting $647.60. The company had a trading volume of 1,298,766 shares, compared to its average volume of 721,192. Parker-Hannifin Co. has a 12 month low of $488.45 and a 12 month high of $718.44. The firm has a market cap of $83.36 billion, a P/E ratio of 26.80, a PEG ratio of 2.85 and a beta of 1.36. The business's 50-day simple moving average is $598.40 and its 200-day simple moving average is $645.46. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The industrial products company reported $6.94 EPS for the quarter, topping analysts' consensus estimates of $6.72 by $0.22. The company had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $4.99 billion. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. The company's quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter last year, the company earned $6.51 EPS. As a group, analysts predict that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be paid a $1.80 dividend. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, May 9th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.11%. Parker-Hannifin's dividend payout ratio is currently 27.72%.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of the stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $620.37, for a total transaction of $93,055.50. Following the completion of the transaction, the vice president now directly owns 2,083 shares in the company, valued at $1,292,230.71. This represents a 6.72 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 0.39% of the stock is owned by 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.