Exchange Traded Concepts LLC Purchases 1,125 Shares of Parker-Hannifin Corporation (NYSE:PH)

Exchange Traded Concepts LLC grew its position in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 28.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 5,072 shares of the industrial products company's stock after acquiring an additional 1,125 shares during the period. Exchange Traded Concepts LLC's holdings in Parker-Hannifin were worth $3,083,000 as of its most recent filing with the SEC.

A number of other large investors also recently modified their holdings of the company. Brighton Jones LLC increased its holdings in Parker-Hannifin by 5.9% in the fourth quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company's stock valued at $1,150,000 after purchasing an additional 101 shares during the period. Union Bancaire Privee UBP SA acquired a new stake in Parker-Hannifin in the fourth quarter valued at $32,781,000. Bank Pictet & Cie Europe AG increased its holdings in Parker-Hannifin by 0.8% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 7,259 shares of the industrial products company's stock valued at $4,617,000 after purchasing an additional 55 shares during the period. Everhart Financial Group Inc. increased its holdings in Parker-Hannifin by 1.9% in the fourth quarter. Everhart Financial Group Inc. now owns 968 shares of the industrial products company's stock valued at $616,000 after purchasing an additional 18 shares during the period. Finally, Allworth Financial LP increased its holdings in Parker-Hannifin by 19.4% in the fourth quarter. Allworth Financial LP now owns 481 shares of the industrial products company's stock valued at $325,000 after purchasing an additional 78 shares during the period. 82.44% of the stock is currently owned by institutional investors.

Insider Activity 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 now owns 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.39% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently weighed in on PH. Citigroup decreased their price objective on Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating for the company in a report on Monday, April 14th. Evercore ISI increased their price target on Parker-Hannifin from $824.00 to $827.00 and gave the stock an "outperform" rating in a report on Monday, May 19th. Wolfe Research downgraded Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a report on Thursday, April 3rd. KeyCorp increased their price target on Parker-Hannifin from $690.00 to $735.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Finally, Stifel Nicolaus increased their price target on Parker-Hannifin from $630.00 to $670.00 and gave the stock a "hold" rating in a report on Monday, June 2nd. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $719.71.

Parker-Hannifin Stock Up 0.0%

Shares of PH stock traded up $0.24 on Thursday, reaching $652.45. 478,188 shares of the company were exchanged, compared to its average volume of 702,442. The company has a market cap of $83.37 billion, a price-to-earnings ratio of 25.12, a PEG ratio of 3.04 and a beta of 1.34. The company has a 50-day moving average of $635.24 and a 200-day moving average of $643.27. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.21 and a quick ratio of 0.70. Parker-Hannifin Corporation has a one year low of $488.45 and a one year high of $718.44.

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 (EPS) for the quarter, topping analysts' consensus estimates 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 17.14% and a return on equity of 26.80%. The business's revenue was down 2.2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $6.51 EPS. Analysts anticipate that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 9th were given a $1.80 dividend. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, May 9th. This represents a $7.20 annualized dividend and a yield of 1.10%. Parker-Hannifin's dividend payout ratio (DPR) is presently 27.72%.

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.