CX Institutional Acquires 464 Shares of Parker-Hannifin Co. (NYSE:PH)

CX Institutional grew its stake in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 19.6% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 2,830 shares of the industrial products company's stock after purchasing an additional 464 shares during the quarter. CX Institutional's holdings in Parker-Hannifin were worth $1,720,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Global Retirement Partners LLC grew its holdings in Parker-Hannifin by 1.1% in the 4th quarter. Global Retirement Partners LLC now owns 1,392 shares of the industrial products company's stock worth $886,000 after buying an additional 15 shares in the last quarter. FFT Wealth Management LLC grew its holdings in Parker-Hannifin by 1.3% in the 4th quarter. FFT Wealth Management LLC now owns 1,150 shares of the industrial products company's stock worth $732,000 after buying an additional 15 shares in the last quarter. GenTrust LLC grew its holdings in Parker-Hannifin by 2.9% in the 4th quarter. GenTrust LLC now owns 524 shares of the industrial products company's stock worth $333,000 after buying an additional 15 shares in the last quarter. First Manhattan CO. LLC. grew its holdings in Parker-Hannifin by 1.0% in the 4th quarter. First Manhattan CO. LLC. now owns 1,580 shares of the industrial products company's stock worth $1,005,000 after buying an additional 15 shares in the last quarter. Finally, Dorsey & Whitney Trust CO LLC grew its holdings in Parker-Hannifin by 1.5% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 1,083 shares of the industrial products company's stock worth $689,000 after buying an additional 16 shares in the last quarter. 82.44% of the stock is owned by institutional investors.

Parker-Hannifin Stock Down 2.0%

Shares of NYSE PH traded down $13.14 during mid-day trading on Friday, reaching $653.73. The company had a trading volume of 682,749 shares, compared to its average volume of 705,108. Parker-Hannifin Co. has a twelve month low of $488.45 and a twelve 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 stock has a market capitalization of $83.53 billion, a PE ratio of 27.06, a price-to-earnings-growth ratio of 2.85 and a beta of 1.34. The stock's 50 day moving average is $628.39 and its 200-day moving average is $644.16.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its 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. The firm had revenue of $4.96 billion for the quarter, compared to the consensus estimate of $4.99 billion. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. The business's quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the prior year, the business posted $6.51 earnings per share. As a group, equities analysts anticipate that Parker-Hannifin Co. will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 6th. Stockholders of record on Friday, May 9th were given a $1.80 dividend. 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 1.10%. The ex-dividend date was Friday, May 9th. Parker-Hannifin's dividend payout ratio (DPR) is currently 27.72%.

Insider Activity

In related news, VP Jay Reidy sold 150 shares of the 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 completion of the sale, the vice president now owns 2,083 shares in the company, valued at approximately $1,292,230.71. This trade represents a 6.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.39% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

PH has been the subject of a number of research reports. KeyCorp increased their price target on Parker-Hannifin from $690.00 to $735.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Wall Street Zen lowered Parker-Hannifin from a "buy" rating to a "hold" rating in a research note on Wednesday, March 19th. Argus set a $680.00 price target on Parker-Hannifin in a research note on Tuesday, May 6th. Wolfe Research lowered Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research note on Thursday, April 3rd. Finally, Truist Financial decreased their price target on Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Five investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $719.71.

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.