Brookstone Capital Management Acquires 737 Shares of Parker-Hannifin Corporation (NYSE:PH)

Brookstone Capital Management increased its holdings 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 and Exchange Commission. The institutional investor owned 6,255 shares of the industrial products company's stock after buying an additional 737 shares during the quarter. Brookstone Capital Management's holdings in Parker-Hannifin were worth $3,802,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently bought and sold shares of PH. Aster Capital Management DIFC Ltd bought a new stake in Parker-Hannifin during the 4th quarter worth approximately $25,000. Millstone Evans Group LLC bought a new stake in shares of Parker-Hannifin in the 4th quarter valued at about $30,000. Mpwm Advisory Solutions LLC bought a new position in Parker-Hannifin in the fourth quarter worth approximately $32,000. Meeder Asset Management Inc. increased its position in shares of Parker-Hannifin by 214.3% during the fourth quarter. Meeder Asset Management Inc. now owns 66 shares of the industrial products company's stock valued at $42,000 after acquiring an additional 45 shares during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in shares of Parker-Hannifin in the fourth quarter worth $48,000. Hedge funds and other institutional investors own 82.44% of the company's stock.

Parker-Hannifin Stock Up 0.1%

Shares of PH stock traded up $0.50 during trading hours on Wednesday, reaching $707.42. 242,087 shares of the company's stock were exchanged, compared to its average volume of 697,033. The stock's fifty day moving average price is $666.26 and its two-hundred day moving average price is $644.71. Parker-Hannifin Corporation has a 1 year low of $488.45 and a 1 year high of $720.90. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 0.55. The stock has a market cap of $90.39 billion, a PE ratio of 27.24, a PEG ratio of 3.05 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 EPS for the quarter, topping the consensus estimate of $6.72 by $0.22. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.14%. The company had revenue of $4.96 billion during the quarter, compared to analyst estimates of $4.99 billion. During the same period in the prior year, the firm posted $6.51 earnings per share. The firm's revenue was down 2.2% on a year-over-year basis. Research analysts predict that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Increases Dividend

The business also recently announced 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 is an increase from Parker-Hannifin's previous quarterly dividend of $1.63. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.02%. The ex-dividend date of this dividend was Friday, May 9th. Parker-Hannifin's dividend payout ratio is currently 27.72%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on PH shares. Wells Fargo & Company increased their price target on Parker-Hannifin from $670.00 to $770.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. Argus set a $680.00 target price on shares of Parker-Hannifin in a report on Tuesday, May 6th. Wolfe Research downgraded shares of Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research note on Thursday, April 3rd. Citigroup reduced their price target on shares of Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating for the company in a research report on Monday, April 14th. Finally, Stifel Nicolaus raised their price objective on shares of Parker-Hannifin from $630.00 to $670.00 and gave the company a "hold" rating in a research report on Monday, June 2nd. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $723.82.

Insider Buying and Selling at Parker-Hannifin

In related news, VP Jay Reidy sold 150 shares of the firm's 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 transaction, the vice president owned 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 transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Company 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.