Catalyst Capital Advisors LLC Takes $283,000 Position in Parker-Hannifin Corporation (NYSE:PH)

Catalyst Capital Advisors LLC purchased a new stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 466 shares of the industrial products company's stock, valued at approximately $283,000.

A number of other hedge funds also recently made changes to their positions in PH. IFM Investors Pty Ltd raised its holdings in Parker-Hannifin by 10.1% in the 1st 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 raised its holdings 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 buying an additional 163 shares during the last quarter. Mutual Advisors LLC raised its holdings 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 buying an additional 98 shares during the last quarter. Arlington Trust Co LLC raised its holdings 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 buying an additional 148 shares during the last quarter. Finally, Alley Investment Management Company LLC bought a new position in Parker-Hannifin in the 1st quarter valued at approximately $7,996,000. 82.44% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Parker-Hannifin

In related news, VP Jay Reidy sold 150 shares of Parker-Hannifin stock in a transaction on Friday, May 2nd. The shares were 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 owned 2,083 shares of the company's stock, valued at approximately $1,292,230.71. This trade represents a 6.72% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 0.39% of the stock is owned by corporate insiders.

Parker-Hannifin Stock Performance

NYSE:PH opened at $719.15 on Friday. The company has a fifty day moving average of $662.00 and a 200-day moving average of $643.82. The firm has a market capitalization of $91.89 billion, a P/E ratio of 27.69, a P/E/G ratio of 3.10 and a beta of 1.34. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 0.55. Parker-Hannifin Corporation has a twelve month low of $488.45 and a twelve month high of $720.90.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The industrial products company reported $6.94 earnings per share for the quarter, beating the consensus estimate of $6.72 by $0.22. The company had revenue of $4.96 billion during the quarter, compared to analyst estimates 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% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.51 EPS. As a group, sell-side analysts anticipate that Parker-Hannifin Corporation will post 26.71 EPS for the current 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 $1.80 dividend. The ex-dividend date was Friday, May 9th. This represents a $7.20 annualized dividend and a dividend yield of 1.00%. This is a positive change from Parker-Hannifin's previous quarterly dividend of $1.63. Parker-Hannifin's payout ratio is currently 27.72%.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on PH. Barclays dropped their price objective on shares of Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Wolfe Research lowered shares of Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a report on Thursday, April 3rd. Wall Street Zen lowered shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a report on Wednesday, March 19th. Citigroup lowered their price target on shares of Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating for the company in a report on Monday, April 14th. Finally, Truist Financial lowered their price target on shares of Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $719.41.

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.

Want to see what other hedge funds are holding PH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Parker-Hannifin Corporation (NYSE:PH - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.