Group One Trading LLC Makes New Investment in Parker-Hannifin Co. (NYSE:PH)

Group One Trading LLC acquired a new position in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 529 shares of the industrial products company's stock, valued at approximately $336,000.

A number of other institutional investors have also made changes to their positions in PH. Ballentine Partners LLC grew its stake in shares of Parker-Hannifin by 5.9% during the fourth quarter. Ballentine Partners LLC now owns 1,587 shares of the industrial products company's stock worth $1,009,000 after purchasing an additional 89 shares during the period. Aspiriant LLC grew its stake in shares of Parker-Hannifin by 8.0% during the fourth quarter. Aspiriant LLC now owns 485 shares of the industrial products company's stock worth $308,000 after purchasing an additional 36 shares during the period. Atomi Financial Group Inc. grew its stake in shares of Parker-Hannifin by 53.3% during the fourth quarter. Atomi Financial Group Inc. now owns 1,125 shares of the industrial products company's stock worth $715,000 after purchasing an additional 391 shares during the period. Fort Washington Investment Advisors Inc. OH grew its stake in Parker-Hannifin by 11.1% in the fourth quarter. Fort Washington Investment Advisors Inc. OH now owns 1,644 shares of the industrial products company's stock valued at $1,046,000 after acquiring an additional 164 shares during the period. Finally, Howard Capital Management Group LLC acquired a new position in Parker-Hannifin in the fourth quarter valued at about $23,390,000. 82.44% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have issued reports on PH. UBS Group decreased their target price on Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating for the company in a research note on Friday, January 31st. Wells Fargo & Company boosted their target price on Parker-Hannifin from $710.00 to $775.00 and gave the company an "overweight" rating in a research note on Friday, January 31st. KeyCorp boosted their target price on Parker-Hannifin from $690.00 to $735.00 and gave the company an "overweight" rating in a research note on Friday, May 2nd. Mizuho set a $785.00 target price on Parker-Hannifin in a research note on Friday, May 16th. Finally, Truist Financial decreased their target price 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. Four equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $718.44.

Parker-Hannifin Stock Up 2.4%

PH traded up $15.40 on Tuesday, hitting $670.36. 564,261 shares of the company were exchanged, compared to its average volume of 717,939. Parker-Hannifin Co. has a 12 month low of $488.45 and a 12 month high of $718.44. The company has a market cap of $85.66 billion, a PE ratio of 27.75, a PEG ratio of 2.85 and a beta of 1.36. 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's fifty day moving average is $610.46 and its 200-day moving average is $647.28.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.72 by $0.22. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. The business had revenue of $4.96 billion for the quarter, compared to analyst estimates of $4.99 billion. During the same quarter in the prior year, the company posted $6.51 earnings per share. Parker-Hannifin's revenue was down 2.2% on a year-over-year basis. Equities research analysts predict that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, June 6th. Investors of record on Friday, May 9th will be issued a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a yield of 1.07%. The ex-dividend date is Friday, May 9th. This is a positive change from Parker-Hannifin's previous quarterly dividend of $1.63. Parker-Hannifin's dividend payout ratio is presently 27.72%.

Insider Buying and Selling

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of the business'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 owns 2,083 shares of the company's stock, valued at $1,292,230.71. The trade was a 6.72% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.39% of the stock is currently owned by corporate insiders.

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.