1,860 Shares in Parker-Hannifin Co. (NYSE:PH) Bought by AlphaCore Capital LLC

AlphaCore Capital LLC acquired a new stake in Parker-Hannifin Co. (NYSE:PH - Free Report) during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm acquired 1,860 shares of the industrial products company's stock, valued at approximately $1,183,000.

A number of other institutional investors have also added to or reduced their stakes in PH. Mackenzie Financial Corp increased its holdings in shares of Parker-Hannifin by 6.4% in the fourth quarter. Mackenzie Financial Corp now owns 274,913 shares of the industrial products company's stock valued at $174,853,000 after purchasing an additional 16,472 shares during the last quarter. Forum Financial Management LP raised its stake in Parker-Hannifin by 2.6% during the fourth quarter. Forum Financial Management LP now owns 1,365 shares of the industrial products company's stock worth $868,000 after acquiring an additional 35 shares in the last quarter. Michels Family Financial LLC acquired a new position in shares of Parker-Hannifin in the fourth quarter valued at approximately $633,000. Parr Mcknight Wealth Management Group LLC acquired a new stake in Parker-Hannifin during the 4th quarter valued at approximately $3,581,000. Finally, Hudson Value Partners LLC increased its position in Parker-Hannifin by 14.2% during the 4th quarter. Hudson Value Partners LLC now owns 491 shares of the industrial products company's stock valued at $312,000 after purchasing an additional 61 shares during the period. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Parker-Hannifin

In other news, VP Jay Reidy sold 150 shares of the stock in a transaction 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 transaction, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 0.39% of the company's stock.

Parker-Hannifin Stock Performance

NYSE:PH traded up $15.40 on Tuesday, hitting $670.36. The stock had a trading volume of 564,261 shares, compared to its average volume of 717,939. The stock has a market cap of $85.66 billion, a price-to-earnings ratio of 27.75, a price-to-earnings-growth ratio of 2.85 and a beta of 1.36. The company has a quick ratio of 0.59, a current ratio of 1.06 and a debt-to-equity ratio of 0.51. The business's 50-day simple moving average is $609.54 and its two-hundred day simple moving average is $647.12. Parker-Hannifin Co. has a 52-week low of $488.45 and a 52-week high of $718.44.

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

Parker-Hannifin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be issued a $1.80 dividend. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.63. The ex-dividend date is Friday, May 9th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.07%. Parker-Hannifin's payout ratio is 27.72%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the stock. UBS Group cut their price objective on shares of Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating on the stock in a report on Friday, January 31st. Truist Financial lowered their price objective on Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Stifel Nicolaus upped their target price on Parker-Hannifin from $564.00 to $630.00 and gave the company a "hold" rating in a report on Friday, May 2nd. Mizuho set a $785.00 price objective on Parker-Hannifin in a report on Friday, May 16th. Finally, KeyCorp increased their price objective on Parker-Hannifin from $690.00 to $735.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $718.44.

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.