Franklin Street Advisors Inc. NC Increases Stake in Parker-Hannifin Co. (NYSE:PH)

Franklin Street Advisors Inc. NC lifted its position in Parker-Hannifin Co. (NYSE:PH - Free Report) by 2.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 17,734 shares of the industrial products company's stock after buying an additional 459 shares during the quarter. Franklin Street Advisors Inc. NC's holdings in Parker-Hannifin were worth $10,780,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in PH. Whipplewood Advisors LLC acquired a new stake in Parker-Hannifin during the 4th quarter valued at $25,000. Aster Capital Management DIFC Ltd acquired a new stake in Parker-Hannifin during the 4th quarter valued at $25,000. Millstone Evans Group LLC acquired a new stake in Parker-Hannifin during the 4th quarter valued at $30,000. Mpwm Advisory Solutions LLC acquired a new stake in Parker-Hannifin during the 4th quarter valued at $32,000. Finally, Kestra Investment Management LLC acquired a new stake in Parker-Hannifin during the 4th quarter valued at $40,000. 82.44% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, VP Jay Reidy sold 150 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $620.37, for a total transaction of $93,055.50. Following the transaction, the vice president now directly owns 2,083 shares of the company's stock, valued at $1,292,230.71. This represents a 6.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 0.39% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms recently commented on PH. Barclays dropped their price target on Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Citigroup dropped their price target on Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating for the company in a research note on Monday, April 14th. Wolfe Research downgraded Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research note on Thursday, April 3rd. Stifel Nicolaus boosted their price target on Parker-Hannifin from $630.00 to $670.00 and gave the company a "hold" rating in a research note on Monday, June 2nd. Finally, Morgan Stanley began coverage on Parker-Hannifin in a research note on Thursday, June 5th. They issued an "equal weight" rating and a $700.00 price target for the company. Five investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $719.71.

Parker-Hannifin Trading Down 0.8%

Shares of NYSE:PH traded down $5.50 during midday trading on Thursday, hitting $666.25. 493,225 shares of the stock were exchanged, compared to its average volume of 707,680. The business's 50-day moving average price is $625.79 and its 200 day moving average price is $644.91. 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 $85.13 billion, a price-to-earnings ratio of 27.58, a P/E/G ratio of 2.85 and a beta of 1.34. Parker-Hannifin Co. has a 12 month low of $488.45 and a 12 month high of $718.44.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings data 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 for the quarter, compared to analyst estimates of $4.99 billion. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. The firm's quarterly revenue was down 2.2% on a year-over-year basis. During the same period in the previous year, the firm earned $6.51 earnings per share. Analysts predict that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 9th were paid a $1.80 dividend. This is a positive change 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 1.08%. The ex-dividend date of this dividend was Friday, May 9th. Parker-Hannifin's payout ratio is currently 27.72%.

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.