Concentric Capital Strategies LP Purchases 1,199 Shares of Parker-Hannifin Co. (NYSE:PH)

Concentric Capital Strategies LP increased its position in Parker-Hannifin Co. (NYSE:PH - Free Report) by 5.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 24,405 shares of the industrial products company's stock after purchasing an additional 1,199 shares during the quarter. Parker-Hannifin makes up about 0.7% of Concentric Capital Strategies LP's investment portfolio, making the stock its 17th largest holding. Concentric Capital Strategies LP's holdings in Parker-Hannifin were worth $15,522,000 at the end of the most recent reporting period.

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

Insiders Place Their Bets

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of Parker-Hannifin stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $620.37, for a total transaction of $93,055.50. Following the completion of the sale, the vice president now directly owns 2,083 shares in the company, valued at $1,292,230.71. This trade represents a 6.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 0.39% of the stock is currently owned by insiders.

Parker-Hannifin Price Performance

PH opened at $615.08 on Wednesday. Parker-Hannifin Co. has a 52-week low of $488.45 and a 52-week high of $718.44. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The stock's 50 day moving average price is $599.04 and its 200-day moving average price is $645.38. The stock has a market capitalization of $79.17 billion, a PE ratio of 25.46, a price-to-earnings-growth ratio of 2.85 and a beta of 1.36.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share for the quarter, topping the consensus estimate 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 net margin of 15.87% and a return on equity of 27.34%. Parker-Hannifin's quarterly revenue was down 2.2% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $6.51 EPS. On average, equities research analysts predict that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 9th will be paid a $1.80 dividend. The ex-dividend date is Friday, May 9th. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.63. This represents a $7.20 dividend on an annualized basis and a yield of 1.17%. Parker-Hannifin's dividend payout ratio (DPR) is 27.72%.

Analysts Set New Price Targets

Several analysts have recently weighed in on the stock. Stifel Nicolaus increased their price target on shares of Parker-Hannifin from $564.00 to $630.00 and gave the company a "hold" rating in a research note on Friday, May 2nd. Wolfe Research lowered Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research report on Thursday, April 3rd. KeyCorp raised their price objective on Parker-Hannifin from $690.00 to $735.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. UBS Group lowered their price objective on shares of Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. Finally, Wells Fargo & Company upped their price target on Parker-Hannifin from $710.00 to $775.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Four equities research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $711.88.

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.

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