Kestra Private Wealth Services LLC Has $6.84 Million Stock Position in Parker-Hannifin Corporation (NYSE:PH)

Kestra Private Wealth Services LLC boosted its stake in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 40.9% during the first quarter, according to the company in its most recent filing with the SEC. The fund owned 11,247 shares of the industrial products company's stock after buying an additional 3,265 shares during the period. Kestra Private Wealth Services LLC's holdings in Parker-Hannifin were worth $6,836,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Aster Capital Management DIFC Ltd acquired a new stake in Parker-Hannifin in the 4th quarter worth about $25,000. Millstone Evans Group LLC acquired a new stake in Parker-Hannifin in the 4th quarter worth about $30,000. Mpwm Advisory Solutions LLC acquired a new stake in Parker-Hannifin in the 4th quarter worth about $32,000. Olde Wealth Management LLC acquired a new stake in Parker-Hannifin in the 1st quarter worth about $35,000. Finally, Chilton Capital Management LLC raised its stake in Parker-Hannifin by 1,500.0% in the 1st quarter. Chilton Capital Management LLC now owns 64 shares of the industrial products company's stock worth $39,000 after purchasing an additional 60 shares in the last quarter. Institutional investors and hedge funds own 82.44% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Argus set a $680.00 price target on shares of Parker-Hannifin in a report on Tuesday, May 6th. KeyCorp upped their price target on shares of Parker-Hannifin from $735.00 to $790.00 and gave the stock an "overweight" rating in a report on Tuesday, July 15th. Truist Financial cut their price target on shares of Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Mizuho set a $785.00 price target on shares of Parker-Hannifin in a report on Friday, May 16th. Finally, Citigroup reaffirmed a "buy" rating and set a $831.00 price target (up previously from $709.00) on shares of Parker-Hannifin in a report on Monday, July 14th. Five analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $739.12.

Parker-Hannifin Stock Down 0.1%

Shares of NYSE PH opened at $722.53 on Friday. The company has a market capitalization of $92.32 billion, a P/E ratio of 27.82, a price-to-earnings-growth ratio of 3.11 and a beta of 1.34. Parker-Hannifin Corporation has a 52-week low of $488.45 and a 52-week high of $727.30. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.70 and a current ratio of 1.21. The company's 50 day moving average price is $680.98 and its 200-day moving average price is $648.59.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $6.72 by $0.22. Parker-Hannifin had a net margin of 17.14% and a return on equity of 26.80%. The firm had revenue of $4.96 billion for the quarter, compared to the consensus estimate of $4.99 billion. During the same quarter 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 forecast that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The business also recently announced 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 dividend on an annualized basis and a dividend yield of 1.00%. The ex-dividend date was Friday, May 9th. This is an increase from Parker-Hannifin's previous quarterly dividend of $1.63. Parker-Hannifin's payout ratio is presently 27.72%.

Insider Activity

In other news, VP Jay Reidy sold 150 shares of Parker-Hannifin 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 completion of the transaction, the vice president directly owned 2,083 shares in the company, valued at $1,292,230.71. This trade represents 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 owned by 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.

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