Friedenthal Financial Makes New Investment in Parker-Hannifin Corporation (NYSE:PH)

Friedenthal Financial acquired a new stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 1,526 shares of the industrial products company's stock, valued at approximately $928,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Whipplewood Advisors LLC purchased a new stake in shares of Parker-Hannifin in the 4th quarter valued at approximately $25,000. Aster Capital Management DIFC Ltd purchased a new stake in shares of Parker-Hannifin in the 4th quarter valued at approximately $25,000. Millstone Evans Group LLC purchased a new stake in shares of Parker-Hannifin in the 4th quarter valued at approximately $30,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Parker-Hannifin in the 4th quarter valued at approximately $32,000. Finally, Kestra Investment Management LLC purchased a new stake in shares of Parker-Hannifin in the 4th quarter valued at approximately $40,000. Institutional investors and hedge funds own 82.44% of the company's stock.

Analysts Set New Price Targets

PH has been the topic of several recent research reports. Barclays cut their target price on shares of Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating on the stock in a research note on Thursday, April 10th. Mizuho set a $785.00 price target on shares of Parker-Hannifin in a report on Friday, May 16th. 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. Evercore ISI boosted their price target on shares of Parker-Hannifin from $824.00 to $827.00 and gave the stock an "outperform" rating in a report on Monday, May 19th. Finally, Argus set a $680.00 price target on shares of Parker-Hannifin in a report on Tuesday, May 6th. 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 MarketBeat.com, Parker-Hannifin has a consensus rating of "Moderate Buy" and an average price target of $719.71.

Parker-Hannifin Stock Up 0.0%

NYSE PH opened at $652.45 on Thursday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.70 and a current ratio of 1.21. Parker-Hannifin Corporation has a 52 week low of $488.45 and a 52 week high of $718.44. The stock has a fifty day moving average of $633.39 and a 200-day moving average of $643.61. The stock has a market capitalization of $83.37 billion, a P/E ratio of 25.12, a price-to-earnings-growth ratio of 3.04 and a beta of 1.34.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The industrial products company reported $6.94 EPS for the quarter, beating analysts' consensus estimates of $6.72 by $0.22. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.14%. The business had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter in the prior year, the company posted $6.51 earnings per share. The firm's revenue was down 2.2% on a year-over-year basis. On average, equities research analysts forecast that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 9th were issued 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 of this dividend was Friday, May 9th. Parker-Hannifin's dividend payout ratio is 27.72%.

Insiders Place Their Bets

In other news, VP Jay Reidy sold 150 shares of the company's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $620.37, for a total transaction of $93,055.50. Following the completion of 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate 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.

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