Heartland Bank & Trust Co Buys Shares of 427 Parker-Hannifin Corporation (NYSE:PH)

Heartland Bank & Trust Co acquired a new position in Parker-Hannifin Corporation (NYSE:PH - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 427 shares of the industrial products company's stock, valued at approximately $260,000.

A number of other hedge funds have also recently made changes to their positions in the stock. Global Retirement Partners LLC boosted its position in shares of Parker-Hannifin by 1.1% during the 4th quarter. Global Retirement Partners LLC now owns 1,392 shares of the industrial products company's stock worth $886,000 after purchasing an additional 15 shares during the period. FFT Wealth Management LLC boosted its position in shares of Parker-Hannifin by 1.3% during the 4th quarter. FFT Wealth Management LLC now owns 1,150 shares of the industrial products company's stock worth $732,000 after purchasing an additional 15 shares during the period. GenTrust LLC boosted its position in shares of Parker-Hannifin by 2.9% during the 4th quarter. GenTrust LLC now owns 524 shares of the industrial products company's stock worth $333,000 after purchasing an additional 15 shares during the period. First Manhattan CO. LLC. boosted its position in shares of Parker-Hannifin by 1.0% during the 4th quarter. First Manhattan CO. LLC. now owns 1,580 shares of the industrial products company's stock worth $1,005,000 after purchasing an additional 15 shares during the period. Finally, Dorsey & Whitney Trust CO LLC boosted its position in shares of Parker-Hannifin by 1.5% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 1,083 shares of the industrial products company's stock worth $689,000 after purchasing an additional 16 shares during the period. Hedge funds and other institutional investors own 82.44% of the company's stock.

Insider Buying and Selling

In related news, VP Jay Reidy sold 150 shares of Parker-Hannifin stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $620.37, for a total transaction of $93,055.50. Following the sale, the vice president now directly owns 2,083 shares in the company, valued at $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 is available through the SEC website. 0.39% of the stock is owned by company insiders.

Parker-Hannifin Price Performance

Parker-Hannifin stock opened at $651.73 on Monday. The stock has a market cap of $83.28 billion, a P/E ratio of 25.10, a price-to-earnings-growth ratio of 3.04 and a beta of 1.34. The company has a fifty day simple moving average of $636.98 and a 200-day simple moving average of $642.20. Parker-Hannifin Corporation has a 12-month low of $488.45 and a 12-month high of $718.44. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 0.55.

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 the consensus estimate of $6.72 by $0.22. Parker-Hannifin had a net margin of 17.14% and a return on equity of 26.80%. The business had revenue of $4.96 billion during the quarter, compared to analysts' expectations of $4.99 billion. During the same period in the previous year, the company earned $6.51 EPS. The company's revenue for the quarter was down 2.2% on a year-over-year basis. Equities analysts expect that Parker-Hannifin Corporation will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Argus set a $680.00 target price on shares of Parker-Hannifin in a report on Tuesday, May 6th. Mizuho set a $785.00 target price on shares of Parker-Hannifin in a report on Friday, May 16th. KeyCorp increased their target price on shares of Parker-Hannifin from $690.00 to $735.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Stifel Nicolaus increased their target price on shares of Parker-Hannifin from $630.00 to $670.00 and gave the stock a "hold" rating in a report on Monday, June 2nd. Finally, Evercore ISI increased their target price 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. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $719.71.

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.

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