Bar Harbor Wealth Management Raises Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Bar Harbor Wealth Management increased its holdings in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 2.2% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 21,949 shares of the industrial products company's stock after purchasing an additional 479 shares during the period. Bar Harbor Wealth Management's holdings in Parker-Hannifin were worth $13,342,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also modified their holdings of the company. Brighton Jones LLC grew its position in Parker-Hannifin by 5.9% in the fourth quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company's stock worth $1,150,000 after acquiring an additional 101 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in Parker-Hannifin during the 4th quarter worth approximately $32,781,000. Empowered Funds LLC raised its position in Parker-Hannifin by 15.2% in the 4th quarter. Empowered Funds LLC now owns 2,879 shares of the industrial products company's stock valued at $1,831,000 after purchasing an additional 380 shares in the last quarter. Savant Capital LLC lifted its stake in Parker-Hannifin by 8.1% in the fourth quarter. Savant Capital LLC now owns 3,710 shares of the industrial products company's stock worth $2,359,000 after acquiring an additional 277 shares during the last quarter. Finally, Focus Financial Network Inc. lifted its position in shares of Parker-Hannifin by 6.1% during the 4th quarter. Focus Financial Network Inc. now owns 691 shares of the industrial products company's stock worth $439,000 after purchasing an additional 40 shares during the last quarter. Institutional investors and hedge funds own 82.44% of the company's stock.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock traded up $7.57 on Monday, reaching $661.66. 636,176 shares of the stock were exchanged, compared to its average volume of 704,831. The firm has a market capitalization of $84.55 billion, a PE ratio of 27.39, a PEG ratio of 2.85 and a beta of 1.34. Parker-Hannifin Co. has a 1-year low of $488.45 and a 1-year high of $718.44. The business has a fifty day moving average price of $628.39 and a two-hundred day moving average price of $643.77. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51.

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

Parker-Hannifin Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 9th were given a dividend of $1.80 per share. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.09%. This is an increase from Parker-Hannifin's previous quarterly dividend of $1.63. The ex-dividend date was Friday, May 9th. Parker-Hannifin's dividend payout ratio (DPR) is presently 27.72%.

Insider Transactions at Parker-Hannifin

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.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on PH shares. Argus set a $680.00 target price on Parker-Hannifin in a research note on Tuesday, May 6th. Mizuho set a $785.00 price objective on shares of Parker-Hannifin in a research report on Friday, May 16th. Evercore ISI upped their target price on shares of Parker-Hannifin from $824.00 to $827.00 and gave the company an "outperform" rating in a report on Monday, May 19th. Barclays cut their price target on shares of Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Finally, Truist Financial dropped their price objective on Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $719.71.

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.