Board of the Pension Protection Fund Acquires New Shares in Parker-Hannifin Corporation (NYSE:PH)

Board of the Pension Protection Fund bought a new position in Parker-Hannifin Corporation (NYSE:PH - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 900 shares of the industrial products company's stock, valued at approximately $547,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PH. Whipplewood Advisors LLC acquired a new position in shares of Parker-Hannifin during the 4th quarter worth $25,000. Aster Capital Management DIFC Ltd bought a new stake in Parker-Hannifin during the fourth quarter worth approximately $25,000. Millstone Evans Group LLC acquired a new position in Parker-Hannifin during the fourth quarter valued at approximately $30,000. Mpwm Advisory Solutions LLC bought a new position in shares of Parker-Hannifin in the fourth quarter valued at approximately $32,000. Finally, Meeder Asset Management Inc. lifted its stake in shares of Parker-Hannifin by 214.3% in the fourth quarter. Meeder Asset Management Inc. now owns 66 shares of the industrial products company's stock worth $42,000 after buying an additional 45 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company's stock.

Parker-Hannifin Price Performance

Shares of PH stock traded up $9.26 during trading hours on Friday, hitting $700.97. The company had a trading volume of 1,044,233 shares, compared to its average volume of 703,982. Parker-Hannifin Corporation has a 12 month low of $488.45 and a 12 month high of $718.44. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.70 and a current ratio of 1.21. The firm's fifty day moving average is $645.95 and its 200 day moving average is $642.48. The firm has a market capitalization of $89.57 billion, a price-to-earnings ratio of 26.99, a PEG ratio of 3.14 and a beta of 1.34.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings results 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 26.80% and a net margin of 17.14%. The business's revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the business posted $6.51 earnings per share. On average, sell-side analysts predict that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 9th were given a $1.80 dividend. The ex-dividend date of this dividend was 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 yield of 1.03%. Parker-Hannifin's payout ratio is 27.72%.

Analyst Ratings Changes

A number of research firms recently issued reports on PH. Citigroup lowered their target price on shares of Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Stifel Nicolaus raised their price target on Parker-Hannifin from $630.00 to $670.00 and gave the company a "hold" rating in a research report on Monday, June 2nd. Argus set a $680.00 price objective on Parker-Hannifin in a research report on Tuesday, May 6th. Barclays decreased their target price on Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Finally, Morgan Stanley began coverage on Parker-Hannifin in a research report on Thursday, June 5th. They issued an "equal weight" rating and a $700.00 price target on the stock. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $719.71.

Insiders Place Their Bets

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 sale, the vice president now owns 2,083 shares in the company, 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 document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 0.39% of the company's stock.

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.