IFM Investors Pty Ltd Acquires 2,321 Shares of Parker-Hannifin Corporation (NYSE:PH)

IFM Investors Pty Ltd grew its holdings in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 10.1% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 25,233 shares of the industrial products company's stock after purchasing an additional 2,321 shares during the quarter. IFM Investors Pty Ltd's holdings in Parker-Hannifin were worth $15,943,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. Aster Capital Management DIFC Ltd acquired a new stake in Parker-Hannifin in the 4th quarter worth $25,000. Millstone Evans Group LLC bought a new stake in shares of Parker-Hannifin in the fourth quarter valued at about $30,000. Mpwm Advisory Solutions LLC acquired a new stake in Parker-Hannifin during the fourth quarter worth about $32,000. Meeder Asset Management Inc. increased its stake in Parker-Hannifin by 214.3% during the fourth quarter. Meeder Asset Management Inc. now owns 66 shares of the industrial products company's stock valued at $42,000 after acquiring an additional 45 shares during the period. Finally, Pilgrim Partners Asia Pte Ltd acquired a new position in Parker-Hannifin in the 4th quarter valued at approximately $48,000. 82.44% of the stock is currently owned by institutional investors.

Parker-Hannifin Price Performance

NYSE PH traded up $7.69 during trading hours on Friday, reaching $719.15. 360,526 shares of the company's stock were exchanged, compared to its average volume of 697,327. The firm has a fifty day moving average of $662.00 and a 200-day moving average of $643.82. Parker-Hannifin Corporation has a one year low of $488.45 and a one year high of $720.90. The stock has a market cap of $91.89 billion, a PE ratio of 27.69, a price-to-earnings-growth ratio of 3.10 and a beta of 1.34. 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 announced its earnings results on Thursday, May 1st. The industrial products company reported $6.94 EPS for the quarter, topping the consensus estimate of $6.72 by $0.22. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.14%. 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 prior year, the business earned $6.51 earnings per share. The business's revenue for the quarter was down 2.2% on a year-over-year basis. On average, equities research analysts predict that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 9th were issued a dividend of $1.80 per share. This is an increase from Parker-Hannifin's previous quarterly dividend of $1.63. The ex-dividend date was Friday, May 9th. This represents a $7.20 annualized dividend and a yield of 1.00%. Parker-Hannifin's dividend payout ratio is currently 27.72%.

Insider Buying and Selling

In other news, VP Jay Reidy sold 150 shares of the business's stock in a transaction 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 completion of the sale, the vice president owned 2,083 shares in the company, 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 through this link. Insiders own 0.39% of the company's stock.

Analyst Ratings Changes

Several analysts have recently weighed in on PH shares. Wall Street Zen lowered Parker-Hannifin from a "buy" rating to a "hold" rating in a report on Wednesday, March 19th. Wells Fargo & Company lifted their price target on shares of Parker-Hannifin from $670.00 to $770.00 and gave the stock an "overweight" rating in a research note on Tuesday. Evercore ISI increased their price objective on shares of Parker-Hannifin from $824.00 to $827.00 and gave the company an "outperform" rating in a research note on Monday, May 19th. Morgan Stanley assumed coverage on shares of Parker-Hannifin in a research report on Thursday, June 5th. They set an "equal weight" rating and a $700.00 target price on the stock. Finally, KeyCorp increased their price target on shares of Parker-Hannifin from $690.00 to $735.00 and gave the stock an "overweight" rating in a research report on Friday, May 2nd. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $719.41.

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.