Crestline Management LP Grows Position in Parker-Hannifin Co. (NYSE:PH)

Crestline Management LP raised its stake in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 142.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 19,152 shares of the industrial products company's stock after purchasing an additional 11,237 shares during the period. Crestline Management LP's holdings in Parker-Hannifin were worth $12,181,000 at the end of the most recent reporting period.

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

Wall Street Analysts Forecast Growth

PH has been the subject of a number of recent research reports. UBS Group decreased their price objective on shares of Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating for the company in a report on Friday, January 31st. Truist Financial dropped their price target on shares of Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Wells Fargo & Company boosted their target price on Parker-Hannifin from $710.00 to $775.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Stifel Nicolaus upped their price objective on Parker-Hannifin from $564.00 to $630.00 and gave the stock a "hold" rating in a report on Friday, May 2nd. Finally, Wolfe Research downgraded shares of Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research report on Thursday, April 3rd. Four investment analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $710.12.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of Parker-Hannifin stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $620.37, for a total value of $93,055.50. Following the completion of the sale, the vice president now owns 2,083 shares of the company's stock, valued at approximately $1,292,230.71. The trade was a 6.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.39% of the company's stock.

Parker-Hannifin Trading Up 0.9 %

NYSE:PH traded up $6.01 during trading hours on Friday, reaching $645.71. The company's stock had a trading volume of 30,500 shares, compared to its average volume of 714,221. 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 firm has a market capitalization of $83.12 billion, a price-to-earnings ratio of 26.73, a PEG ratio of 2.85 and a beta of 1.36. The firm has a 50-day simple moving average of $597.93 and a 200-day simple moving average of $645.23. Parker-Hannifin Co. has a 1 year low of $488.45 and a 1 year high of $718.44.

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

Parker-Hannifin Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be given a $1.80 dividend. 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 dividend yield of 1.12%. The ex-dividend date is Friday, May 9th. Parker-Hannifin's payout ratio is currently 27.72%.

Parker-Hannifin Company 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.