J.W. Cole Advisors Inc. Grows Stock Position in Parker-Hannifin Corporation (NYSE:PH)

J.W. Cole Advisors Inc. increased its position in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 50.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,677 shares of the industrial products company's stock after acquiring an additional 1,230 shares during the quarter. J.W. Cole Advisors Inc.'s holdings in Parker-Hannifin were worth $2,235,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd purchased a new stake in Parker-Hannifin during the 4th quarter valued at approximately $25,000. Millstone Evans Group LLC purchased a new position in shares of Parker-Hannifin in the fourth quarter valued at $30,000. Mpwm Advisory Solutions LLC purchased a new position in shares of Parker-Hannifin in the fourth quarter valued at $32,000. Olde Wealth Management LLC purchased a new position in shares of Parker-Hannifin in the first quarter valued at $35,000. Finally, Chilton Capital Management LLC grew its holdings in shares of Parker-Hannifin by 1,500.0% in the first quarter. Chilton Capital Management LLC now owns 64 shares of the industrial products company's stock valued at $39,000 after purchasing an additional 60 shares in the last quarter. 82.44% of the stock is owned by hedge funds and other institutional investors.

Parker-Hannifin Trading Down 1.5%

Shares of PH stock opened at $711.82 on Tuesday. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.21 and a quick ratio of 0.70. The company has a market cap of $90.96 billion, a price-to-earnings ratio of 27.41, a PEG ratio of 3.11 and a beta of 1.34. The stock has a 50 day simple moving average of $680.98 and a 200-day simple moving average of $648.72. Parker-Hannifin Corporation has a 1-year low of $488.45 and a 1-year high of $727.30.

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

Parker-Hannifin Increases Dividend

The company 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. This represents a $7.20 annualized dividend and a dividend yield of 1.01%. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, May 9th. Parker-Hannifin's payout ratio is presently 27.72%.

Analyst Ratings Changes

A number of research firms recently weighed in on PH. Wolfe Research lowered shares of Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a report on Thursday, April 3rd. Citigroup restated a "buy" rating and issued a $831.00 price target (up from $709.00) on shares of Parker-Hannifin in a research report on Monday, July 14th. Mizuho set a $785.00 price target on Parker-Hannifin in a research report on Friday, May 16th. Evercore ISI lifted their target price on Parker-Hannifin from $824.00 to $827.00 and gave the stock an "outperform" rating in a research report on Monday, May 19th. Finally, KeyCorp lifted their target price on Parker-Hannifin from $735.00 to $790.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 15th. Five research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Parker-Hannifin presently has a consensus rating of "Moderate Buy" and a consensus target price of $739.59.

Insider Transactions at Parker-Hannifin

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of the company's stock in a transaction on Friday, May 2nd. The stock was sold at an average price of $620.37, for a total value of $93,055.50. Following the completion of the sale, the vice president directly owned 2,083 shares in the company, valued at $1,292,230.71. This represents a 6.72% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 0.39% of the stock is currently owned by insiders.

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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