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

AlphaCore Capital LLC acquired a new stake in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,860 shares of the industrial products company's stock, valued at approximately $1,183,000.

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

Parker-Hannifin Trading Up 0.2%

NYSE:PH traded up $1.12 during mid-day trading on Thursday, hitting $667.42. The company had a trading volume of 230,416 shares, compared to its average volume of 814,109. The firm has a market cap of $85.28 billion, a P/E ratio of 27.63, a P/E/G ratio of 2.85 and a beta of 1.36. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The business's fifty day moving average is $611.33 and its two-hundred day moving average is $647.41. Parker-Hannifin Co. has a fifty-two week low of $488.45 and a fifty-two 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 (EPS) for the quarter, topping analysts' consensus estimates 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%. Parker-Hannifin's quarterly revenue was down 2.2% on a year-over-year basis. During the same period last year, the company earned $6.51 earnings per share. As a group, research analysts expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 9th will be issued a dividend of $1.80 per share. The ex-dividend date of this dividend is Friday, May 9th. This is a positive change 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 1.08%. Parker-Hannifin's payout ratio is presently 27.72%.

Insider Buying and Selling

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of the company's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $620.37, for a total value of $93,055.50. Following the transaction, the vice president now directly owns 2,083 shares of the company's stock, valued at $1,292,230.71. This represents a 6.72% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. 0.39% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of research firms have commented on PH. Citigroup reduced their price objective on Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Wells Fargo & Company boosted their price objective on Parker-Hannifin from $710.00 to $775.00 and gave the stock an "overweight" rating in a research note on Friday, January 31st. Stifel Nicolaus boosted their price objective on Parker-Hannifin from $564.00 to $630.00 and gave the stock a "hold" rating in a research note on Friday, May 2nd. KeyCorp boosted their price objective on Parker-Hannifin from $690.00 to $735.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Finally, Wolfe Research lowered Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research note on Thursday, April 3rd. Four equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average price target of $718.44.

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.