Howard Capital Management Group LLC Acquires 791 Shares of Parker-Hannifin Co. (NYSE:PH)

Howard Capital Management Group LLC raised its position in Parker-Hannifin Co. (NYSE:PH - Free Report) by 2.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 37,566 shares of the industrial products company's stock after purchasing an additional 791 shares during the period. Parker-Hannifin accounts for 1.8% of Howard Capital Management Group LLC's investment portfolio, making the stock its 25th biggest position. Howard Capital Management Group LLC's holdings in Parker-Hannifin were worth $22,834,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of PH. Bar Harbor Wealth Management lifted its holdings in shares of Parker-Hannifin by 2.2% during the 1st quarter. Bar Harbor Wealth Management now owns 21,949 shares of the industrial products company's stock worth $13,342,000 after acquiring an additional 479 shares during the last quarter. Liberty Capital Management Inc. bought a new stake in shares of Parker-Hannifin during the 1st quarter worth $272,000. Union Bancaire Privee UBP SA lifted its holdings in shares of Parker-Hannifin by 10.5% during the 1st quarter. Union Bancaire Privee UBP SA now owns 58,876 shares of the industrial products company's stock worth $34,604,000 after acquiring an additional 5,593 shares during the last quarter. Ferguson Wellman Capital Management Inc. lifted its holdings in shares of Parker-Hannifin by 1.5% during the 1st quarter. Ferguson Wellman Capital Management Inc. now owns 162,454 shares of the industrial products company's stock worth $98,748,000 after acquiring an additional 2,385 shares during the last quarter. Finally, Fifth Third Bancorp lifted its holdings in shares of Parker-Hannifin by 7.4% during the 1st quarter. Fifth Third Bancorp now owns 160,853 shares of the industrial products company's stock worth $97,774,000 after acquiring an additional 11,042 shares during the last quarter. 82.44% of the stock is owned by institutional investors.

Insider Activity at Parker-Hannifin

In related news, VP Jay Reidy sold 150 shares of the business's stock in a transaction dated 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 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 transaction was disclosed in a legal filing with the SEC, which is available at this link. 0.39% of the stock is owned by corporate insiders.

Parker-Hannifin Trading Down 2.0%

Shares of NYSE PH traded down $13.14 during midday trading on Friday, hitting $653.73. 682,749 shares of the company traded hands, compared to its average volume of 707,740. Parker-Hannifin Co. has a 12-month low of $488.45 and a 12-month high of $718.44. 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 50-day moving average price of $625.79 and a 200 day moving average price of $644.91. The firm has a market cap of $83.53 billion, a P/E ratio of 27.06, a P/E/G ratio of 2.85 and a beta of 1.34.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share (EPS) for the quarter, beating the consensus estimate of $6.72 by $0.22. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. The company had revenue of $4.96 billion for the quarter, compared to analysts' expectations of $4.99 billion. During the same quarter in the previous year, the company earned $6.51 earnings per share. Parker-Hannifin's quarterly revenue was down 2.2% on a year-over-year basis. As a group, analysts expect that Parker-Hannifin Co. will post 26.71 earnings per share for the current 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 given a dividend of $1.80 per share. The ex-dividend date of this dividend was Friday, May 9th. This represents a $7.20 annualized dividend and a dividend yield of 1.10%. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.63. Parker-Hannifin's payout ratio is currently 27.72%.

Analyst Ratings Changes

PH has been the subject of several recent research reports. Barclays lowered their price target on shares of Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Argus set a $680.00 price target on shares of Parker-Hannifin in a research note on Tuesday, May 6th. Mizuho set a $785.00 price target on shares of Parker-Hannifin in a research note on Friday, May 16th. Truist Financial lowered their price target on shares of Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating for the company in a research note on Tuesday, April 8th. Finally, 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 research note on Monday, May 19th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average 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.