Michels Family Financial LLC Invests $633,000 in Parker-Hannifin Co. (NYSE:PH)

Michels Family Financial LLC bought a new stake in Parker-Hannifin Co. (NYSE:PH - Free Report) in the 4th quarter, according to its most recent 13F filing with the SEC. The firm bought 995 shares of the industrial products company's stock, valued at approximately $633,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Whipplewood Advisors LLC acquired a new stake in shares of Parker-Hannifin in the 4th quarter worth about $25,000. Aster Capital Management DIFC Ltd bought a new position in shares of Parker-Hannifin in the fourth quarter valued at approximately $25,000. Millstone Evans Group LLC purchased a new position in shares of Parker-Hannifin during the fourth quarter valued at approximately $30,000. Mpwm Advisory Solutions LLC purchased a new position in shares of Parker-Hannifin during the fourth quarter valued at approximately $32,000. Finally, Kestra Investment Management LLC bought a new stake in Parker-Hannifin during the fourth quarter worth $40,000. 82.44% of the stock is owned by institutional investors.

Analyst Ratings Changes

PH has been the subject of several recent analyst reports. KeyCorp upped their target price on shares of Parker-Hannifin from $690.00 to $735.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Wells Fargo & Company increased their price objective on shares of Parker-Hannifin from $710.00 to $775.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. Wolfe Research downgraded Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research note on Thursday, April 3rd. Stifel Nicolaus increased their price target on Parker-Hannifin from $564.00 to $630.00 and gave the company a "hold" rating in a research report on Friday, May 2nd. Finally, Wall Street Zen lowered Parker-Hannifin from a "buy" rating to a "hold" rating in a report on Wednesday, March 19th. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $718.44.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock traded up $1.58 during trading hours on Thursday, reaching $667.88. The company had a trading volume of 203,240 shares, compared to its average volume of 714,879. The firm has a market cap of $85.34 billion, a PE ratio of 27.64, a price-to-earnings-growth ratio of 2.85 and a beta of 1.36. Parker-Hannifin Co. has a one year low of $488.45 and a one year high of $718.44. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59. The business has a fifty day simple moving average of $611.33 and a 200 day simple moving average of $647.41.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.72 by $0.22. The firm had revenue of $4.96 billion for 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%. The company's revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the prior year, the firm posted $6.51 earnings per share. On average, analysts anticipate 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. Investors of record on Friday, May 9th will be paid a dividend of $1.80 per share. This is a positive change from Parker-Hannifin's previous quarterly dividend of $1.63. The ex-dividend date is Friday, May 9th. This represents a $7.20 annualized dividend and a yield of 1.08%. Parker-Hannifin's dividend payout ratio (DPR) is currently 27.72%.

Insider Buying and Selling

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 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. The trade was a 6.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.39% of the stock is owned by company insiders.

About Parker-Hannifin

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.