Parker-Hannifin Corporation (NYSE:PH) Shares Bought by Brookstone Capital Management

Brookstone Capital Management raised its position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 13.4% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 6,255 shares of the industrial products company's stock after acquiring an additional 737 shares during the period. Brookstone Capital Management's holdings in Parker-Hannifin were worth $3,802,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Catalyst Capital Advisors LLC bought a new position in Parker-Hannifin during the 1st quarter valued at about $283,000. IFM Investors Pty Ltd grew its stake in shares of Parker-Hannifin by 10.1% during the first quarter. IFM Investors Pty Ltd now owns 25,233 shares of the industrial products company's stock valued at $15,943,000 after buying an additional 2,321 shares during the last quarter. Calamos Advisors LLC grew its position in Parker-Hannifin by 0.4% in the 1st quarter. Calamos Advisors LLC now owns 40,831 shares of the industrial products company's stock valued at $24,819,000 after acquiring an additional 163 shares during the last quarter. Mutual Advisors LLC grew its position in Parker-Hannifin by 14.9% in the 1st quarter. Mutual Advisors LLC now owns 757 shares of the industrial products company's stock valued at $453,000 after acquiring an additional 98 shares during the last quarter. Finally, Arlington Trust Co LLC grew its position in Parker-Hannifin by 22.8% in the 1st quarter. Arlington Trust Co LLC now owns 797 shares of the industrial products company's stock valued at $484,000 after acquiring an additional 148 shares during the last quarter. Institutional investors own 82.44% of the company's stock.

Parker-Hannifin Stock Up 1.1%

NYSE PH traded up $7.69 during trading on Friday, hitting $719.15. The company's stock had a trading volume of 360,526 shares, compared to its average volume of 697,924. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.21 and a quick ratio of 0.70. The company has a market cap of $91.89 billion, a PE ratio of 27.69, a P/E/G ratio of 3.10 and a beta of 1.34. The business's 50 day simple moving average is $662.00 and its 200-day simple moving average is $643.82. Parker-Hannifin Corporation has a fifty-two week low of $488.45 and a fifty-two week high of $720.90.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its earnings results on Thursday, May 1st. The industrial products company reported $6.94 EPS for the quarter, topping analysts' consensus estimates of $6.72 by $0.22. The company had revenue of $4.96 billion during the quarter, compared to analysts' expectations of $4.99 billion. Parker-Hannifin had a net margin of 17.14% and a return on equity of 26.80%. Parker-Hannifin's revenue for the quarter was down 2.2% on a year-over-year basis. During the same period last year, the business earned $6.51 EPS. On average, equities analysts anticipate that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 9th were paid a dividend of $1.80 per share. This is an increase from Parker-Hannifin's previous quarterly dividend of $1.63. This represents a $7.20 annualized dividend and a dividend yield of 1.00%. The ex-dividend date was Friday, May 9th. 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 Parker-Hannifin stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $620.37, for a total transaction of $93,055.50. Following the completion of the sale, the vice president owned 2,083 shares of the company's stock, valued at approximately $1,292,230.71. The trade was a 6.72% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Corporate insiders own 0.39% of the company's stock.

Wall Street Analyst Weigh In

PH has been the topic of a number of research analyst reports. Truist Financial cut their price target on shares of Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Morgan Stanley started coverage on shares of Parker-Hannifin in a research note on Thursday, June 5th. They issued an "equal weight" rating and a $700.00 target price on the stock. KeyCorp upped their target price on shares of Parker-Hannifin from $690.00 to $735.00 and gave the stock an "overweight" rating in a research note on Friday, May 2nd. Wells Fargo & Company increased their price objective on Parker-Hannifin from $670.00 to $770.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Finally, Wolfe Research cut Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research report on Thursday, April 3rd. Five equities research 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 company currently has a consensus rating of "Moderate Buy" and an average price target of $719.41.

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.