373 Shares in Parker-Hannifin Co. (NYSE:PH) Acquired by Annex Advisory Services LLC

Annex Advisory Services LLC purchased a new stake in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 373 shares of the industrial products company's stock, valued at approximately $227,000.

Other institutional investors have also recently made changes to their positions in the company. Whipplewood Advisors LLC bought a new position in Parker-Hannifin during the fourth quarter valued at approximately $25,000. Aster Capital Management DIFC Ltd bought a new position in Parker-Hannifin during the fourth quarter valued at approximately $25,000. Millstone Evans Group LLC bought a new position in Parker-Hannifin during the fourth quarter valued at approximately $30,000. Mpwm Advisory Solutions LLC bought a new position in Parker-Hannifin during the fourth quarter valued at approximately $32,000. Finally, Kestra Investment Management LLC bought a new position in Parker-Hannifin in the fourth quarter worth approximately $40,000. Hedge funds and other institutional investors own 82.44% of the company's stock.

Insider Activity

In related news, VP Jay Reidy sold 150 shares of the stock in a transaction dated 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 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate insiders own 0.39% of the company's stock.

Analyst Ratings Changes

PH has been the topic of several recent research reports. Stifel Nicolaus increased their price target on shares of Parker-Hannifin from $630.00 to $670.00 and gave the stock a "hold" rating in a research report on Monday, June 2nd. Truist Financial decreased their price target on shares of Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating on the stock in a research report on Tuesday, April 8th. Morgan Stanley initiated coverage on shares of Parker-Hannifin in a research report on Thursday. They issued an "equal weight" rating and a $700.00 price target on the stock. Citigroup decreased their price target on shares of Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Finally, Mizuho set a $785.00 price target on shares of Parker-Hannifin in a research report on Friday, May 16th. Five 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, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $719.71.

Parker-Hannifin Stock Up 1.5%

Shares of NYSE:PH traded up $10.05 during trading hours on Friday, hitting $672.02. The company's stock had a trading volume of 387,695 shares, compared to its average volume of 711,655. The firm's fifty day moving average price is $616.90 and its 200 day moving average price is $645.78. 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 Co. has a 52 week low of $488.45 and a 52 week high of $718.44. The company has a market capitalization of $85.87 billion, a price-to-earnings ratio of 27.82, a P/E/G ratio of 2.85 and a beta of 1.34.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its earnings results on Thursday, May 1st. The industrial products company reported $6.94 EPS for the quarter, beating 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 in the prior year, the business earned $6.51 earnings per share. The company's quarterly revenue was down 2.2% compared to the same quarter last year. As a group, research analysts expect that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Increases Dividend

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

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.