4,203 Shares in Parker-Hannifin Co. (NYSE:PH) Acquired by Halbert Hargrove Global Advisors LLC

Halbert Hargrove Global Advisors LLC bought a new stake in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,203 shares of the industrial products company's stock, valued at approximately $2,555,000. Parker-Hannifin accounts for 0.1% of Halbert Hargrove Global Advisors LLC's holdings, making the stock its 25th biggest holding.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in PH. Vanguard Group Inc. grew its stake in shares of Parker-Hannifin by 1.0% during the 4th quarter. Vanguard Group Inc. now owns 10,854,774 shares of the industrial products company's stock valued at $6,903,962,000 after acquiring an additional 111,406 shares during the period. Geode Capital Management LLC lifted its holdings in Parker-Hannifin by 3.9% during the fourth quarter. Geode Capital Management LLC now owns 2,677,092 shares of the industrial products company's stock valued at $1,699,580,000 after purchasing an additional 99,261 shares in the last quarter. Invesco Ltd. boosted its position in shares of Parker-Hannifin by 8.6% in the fourth quarter. Invesco Ltd. now owns 2,502,728 shares of the industrial products company's stock worth $1,591,810,000 after purchasing an additional 198,292 shares during the period. Royal Bank of Canada increased its stake in shares of Parker-Hannifin by 99.8% in the fourth quarter. Royal Bank of Canada now owns 2,277,001 shares of the industrial products company's stock worth $1,448,241,000 after purchasing an additional 1,137,564 shares in the last quarter. Finally, DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main increased its stake in shares of Parker-Hannifin by 9.3% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 2,016,091 shares of the industrial products company's stock worth $1,282,294,000 after purchasing an additional 172,064 shares in the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Trading Up 1.2%

PH stock opened at $661.66 on Tuesday. The firm has a fifty day moving average price of $631.16 and a 200 day moving average price of $643.49. Parker-Hannifin Co. has a fifty-two week low of $488.45 and a fifty-two week high of $718.44. The firm has a market cap of $84.55 billion, a PE ratio of 27.39, a price-to-earnings-growth ratio of 2.85 and a beta of 1.34. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued 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. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. The business had revenue of $4.96 billion during the quarter, compared to analysts' expectations of $4.99 billion. During the same period last year, the company posted $6.51 EPS. The business's revenue was down 2.2% on a year-over-year basis. Sell-side analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 9th were given a dividend of $1.80 per share. The ex-dividend date was Friday, May 9th. This is an increase from Parker-Hannifin's previous quarterly dividend of $1.63. This represents a $7.20 dividend on an annualized basis and a yield of 1.09%. Parker-Hannifin's dividend payout ratio is 27.72%.

Insider Activity

In other news, VP Jay Reidy sold 150 shares of the 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 sale, the vice president now owns 2,083 shares of the company's stock, valued at approximately $1,292,230.71. This represents a 6.72% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.39% of the company's stock.

Wall Street Analyst Weigh In

PH has been the topic of a number of analyst reports. Wolfe Research cut shares of Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research note on Thursday, April 3rd. KeyCorp boosted their price objective on Parker-Hannifin from $690.00 to $735.00 and gave the company an "overweight" rating in a research report on Friday, May 2nd. Barclays cut their target price on Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Stifel Nicolaus boosted their price target on Parker-Hannifin from $630.00 to $670.00 and gave the stock a "hold" rating in a report on Monday, June 2nd. Finally, Argus set a $680.00 price objective on shares of Parker-Hannifin in a report on Tuesday, May 6th. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Parker-Hannifin has an average rating of "Moderate Buy" and an average target price of $719.71.

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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