Michels Family Financial LLC Acquires Shares of 995 Parker-Hannifin Co. (NYSE:PH)

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

Other institutional investors have also recently made changes to their positions in the company. Global Retirement Partners LLC increased its position in Parker-Hannifin by 1.1% during the fourth quarter. Global Retirement Partners LLC now owns 1,392 shares of the industrial products company's stock valued at $886,000 after acquiring an additional 15 shares during the last quarter. FFT Wealth Management LLC increased its position in shares of Parker-Hannifin by 1.3% during the 4th quarter. FFT Wealth Management LLC now owns 1,150 shares of the industrial products company's stock valued at $732,000 after purchasing an additional 15 shares during the last quarter. GenTrust LLC lifted its stake in shares of Parker-Hannifin by 2.9% in the 4th quarter. GenTrust LLC now owns 524 shares of the industrial products company's stock worth $333,000 after purchasing an additional 15 shares during the period. First Manhattan CO. LLC. lifted its stake in shares of Parker-Hannifin by 1.0% in the 4th quarter. First Manhattan CO. LLC. now owns 1,580 shares of the industrial products company's stock worth $1,005,000 after purchasing an additional 15 shares during the period. Finally, Moody Lynn & Lieberson LLC boosted its holdings in shares of Parker-Hannifin by 0.6% in the fourth quarter. Moody Lynn & Lieberson LLC now owns 2,709 shares of the industrial products company's stock worth $1,723,000 after buying an additional 16 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on PH. Argus set a $680.00 target price on shares of Parker-Hannifin in a report on Tuesday, May 6th. UBS Group reduced their price objective on Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating for the company in a research note on Friday, January 31st. Evercore ISI raised their target price on Parker-Hannifin from $824.00 to $827.00 and gave the stock an "outperform" rating in a report on Monday, May 19th. Truist Financial cut their price target on Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Finally, KeyCorp upped their price target on Parker-Hannifin from $690.00 to $735.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $718.44.

Insider Buying and Selling at Parker-Hannifin

In related news, VP Jay Reidy sold 150 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $620.37, for a total transaction of $93,055.50. Following the completion of the transaction, the vice president now directly 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 filing with the Securities & Exchange Commission, which is accessible through this link. 0.39% of the stock is currently owned by insiders.

Parker-Hannifin Price Performance

Shares of NYSE:PH traded up $15.40 during trading on Tuesday, hitting $670.36. 564,261 shares of the company's stock were exchanged, compared to its average volume of 717,939. The business's 50-day simple moving average is $609.54 and its 200 day simple moving average is $647.12. The company has a market cap of $85.66 billion, a price-to-earnings ratio of 27.75, a PEG ratio of 2.85 and a beta of 1.36. 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 current ratio of 1.06 and a quick ratio of 0.59.

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 for the quarter, topping the consensus estimate of $6.72 by $0.22. The business had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $4.99 billion. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. The firm's revenue for the quarter was down 2.2% compared to the same quarter last year. During the same period in the prior year, the company posted $6.51 EPS. As a group, equities analysts predict that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Increases Dividend

The business also recently announced 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 represents a $7.20 annualized dividend and a yield of 1.07%. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.63. The ex-dividend date is Friday, May 9th. Parker-Hannifin's dividend payout ratio (DPR) is presently 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.