390 Shares in Parker-Hannifin Corporation (NYSE:PH) Purchased by Alpine Bank Wealth Management

Alpine Bank Wealth Management purchased a new position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 390 shares of the industrial products company's stock, valued at approximately $237,000.

A number of other institutional investors also recently added to or reduced their stakes in PH. Whipplewood Advisors LLC bought a new stake in shares of Parker-Hannifin in the 4th quarter worth about $25,000. Aster Capital Management DIFC Ltd bought a new stake in Parker-Hannifin during the fourth quarter worth about $25,000. Millstone Evans Group LLC acquired a new stake in shares of Parker-Hannifin during the fourth quarter worth approximately $30,000. Mpwm Advisory Solutions LLC bought a new position in shares of Parker-Hannifin in the fourth quarter valued at approximately $32,000. Finally, Meeder Asset Management Inc. boosted its holdings in shares of Parker-Hannifin by 214.3% in the 4th quarter. Meeder Asset Management Inc. now owns 66 shares of the industrial products company's stock worth $42,000 after acquiring an additional 45 shares in the last quarter. 82.44% of the stock is owned by institutional investors and hedge funds.

Parker-Hannifin Price Performance

Shares of PH stock opened at $674.34 on Thursday. The firm's 50 day moving average price is $643.31 and its two-hundred day moving average price is $642.43. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.70 and a current ratio of 1.21. Parker-Hannifin Corporation has a 52-week low of $488.45 and a 52-week high of $718.44. The stock has a market cap of $86.17 billion, a PE ratio of 25.97, a PEG ratio of 3.15 and a beta of 1.34.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.72 by $0.22. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.14%. The business had revenue of $4.96 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same period last year, the company earned $6.51 EPS. The firm's revenue was down 2.2% on a year-over-year basis. As a group, analysts forecast that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 9th were paid a $1.80 dividend. The ex-dividend date of this dividend was 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 dividend yield of 1.07%. Parker-Hannifin's dividend payout ratio is 27.72%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on PH. KeyCorp raised their price target on Parker-Hannifin from $690.00 to $735.00 and gave the company an "overweight" rating in a report on Friday, May 2nd. Barclays lowered their target price on Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Citigroup reduced their price target on shares of Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Mizuho set a $785.00 price objective on shares of Parker-Hannifin in a research report on Friday, May 16th. Finally, Truist Financial dropped their target price on shares of Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $719.71.

Insider Activity at Parker-Hannifin

In related news, VP Jay Reidy sold 150 shares of the company's stock in a transaction 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 in the company, valued at $1,292,230.71. This represents a 6.72% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 0.39% of the stock is currently owned by corporate insiders.

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.

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