Brooklyn FI LLC Invests $636,000 in Parker-Hannifin Co. (NYSE:PH)

Brooklyn FI LLC bought a new stake in Parker-Hannifin Co. (NYSE:PH - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 960 shares of the industrial products company's stock, valued at approximately $636,000.

Other large investors have also recently bought and sold shares of the company. Columbus Macro LLC lifted its holdings in shares of Parker-Hannifin by 485.2% in the 4th quarter. Columbus Macro LLC now owns 10,751 shares of the industrial products company's stock valued at $6,838,000 after buying an additional 8,914 shares during the period. Congress Asset Management Co. raised its position in Parker-Hannifin by 15.5% during the fourth quarter. Congress Asset Management Co. now owns 190,701 shares of the industrial products company's stock valued at $121,292,000 after acquiring an additional 25,605 shares in the last quarter. HUB Investment Partners LLC lifted its holdings in Parker-Hannifin by 15.7% in the fourth quarter. HUB Investment Partners LLC now owns 7,798 shares of the industrial products company's stock valued at $4,960,000 after acquiring an additional 1,057 shares during the period. Congress Wealth Management LLC DE boosted its position in Parker-Hannifin by 67.8% in the 4th quarter. Congress Wealth Management LLC DE now owns 45,806 shares of the industrial products company's stock worth $29,135,000 after purchasing an additional 18,503 shares in the last quarter. Finally, Washington Trust Bank boosted its position in Parker-Hannifin by 3,019.5% in the 4th quarter. Washington Trust Bank now owns 15,535 shares of the industrial products company's stock worth $9,881,000 after purchasing an additional 15,037 shares in the last quarter. Hedge funds and other institutional investors own 82.44% of the company's stock.

Parker-Hannifin Price Performance

Shares of PH traded down $3.38 during trading hours on Friday, hitting $663.85. 1,042,542 shares of the stock were exchanged, compared to its average volume of 718,272. The stock's 50-day moving average price is $612.05 and its two-hundred day moving average price is $646.88. Parker-Hannifin Co. 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 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The company has a market cap of $84.83 billion, a price-to-earnings ratio of 27.48, a price-to-earnings-growth ratio of 2.85 and a beta of 1.36.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.72 by $0.22. The company had revenue of $4.96 billion for the quarter, compared to analysts' expectations of $4.99 billion. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. The firm's quarterly revenue was down 2.2% on a year-over-year basis. During the same quarter in the previous year, the company posted $6.51 EPS. 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 disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 9th will be issued a $1.80 dividend. This is an increase from Parker-Hannifin's previous quarterly dividend of $1.63. The ex-dividend date of this dividend is Friday, May 9th. This represents a $7.20 dividend on an annualized basis and a yield of 1.08%. Parker-Hannifin's dividend payout ratio is presently 27.72%.

Insiders Place Their Bets

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of the firm'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 completion of the sale, the vice president now directly owns 2,083 shares of the company's stock, valued at $1,292,230.71. This trade represents a 6.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.39% of the company's stock.

Analysts Set New Price Targets

Several research firms recently issued reports on PH. Evercore ISI boosted their target price on shares of Parker-Hannifin from $824.00 to $827.00 and gave the company an "outperform" rating in a research note on Monday, May 19th. Stifel Nicolaus increased their target price on shares of Parker-Hannifin from $564.00 to $630.00 and gave the stock a "hold" rating in a research note on Friday, May 2nd. Barclays dropped their target price on Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating on the stock in a research report on Thursday, April 10th. Wells Fargo & Company upped their price target on Parker-Hannifin from $710.00 to $775.00 and gave the stock an "overweight" rating in a report on Friday, January 31st. Finally, UBS Group dropped their price objective on Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating on the stock in a report on Friday, January 31st. Four analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price 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.