Parker-Hannifin Corporation (NYSE:PH) Shares Purchased by Larson Financial Group LLC

Larson Financial Group LLC raised its position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 6.5% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 8,134 shares of the industrial products company's stock after buying an additional 493 shares during the period. Larson Financial Group LLC's holdings in Parker-Hannifin were worth $4,944,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of PH. Aster Capital Management DIFC Ltd purchased a new stake in shares of Parker-Hannifin during the fourth quarter worth $25,000. Millstone Evans Group LLC acquired a new position in Parker-Hannifin during the 4th quarter worth $30,000. Mpwm Advisory Solutions LLC purchased a new stake in Parker-Hannifin during the 4th quarter worth about $32,000. Olde Wealth Management LLC acquired a new stake in Parker-Hannifin in the 1st quarter valued at about $35,000. Finally, Chilton Capital Management LLC boosted its stake in shares of 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 valued at $39,000 after buying an additional 60 shares during the period. 82.44% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Wells Fargo & Company upped their target price on shares of Parker-Hannifin from $670.00 to $770.00 and gave the stock an "overweight" rating in a research note on Tuesday, July 1st. KeyCorp increased their price objective on shares of Parker-Hannifin from $735.00 to $790.00 and gave the company an "overweight" rating in a research report on Tuesday. Evercore ISI lifted their price objective on shares of Parker-Hannifin from $824.00 to $827.00 and gave the stock an "outperform" rating in a research report on Monday, May 19th. Truist Financial dropped their target price on Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Finally, Wolfe Research cut Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research note on Thursday, April 3rd. Five investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $739.12.

Insider Transactions at Parker-Hannifin

In other news, VP Jay Reidy sold 150 shares of the company's stock in a transaction dated Friday, May 2nd. The shares were 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 of the company's stock, valued at approximately $1,292,230.71. This 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 accessible through this hyperlink. Insiders own 0.39% of the company's stock.

Parker-Hannifin Stock Performance

Shares of NYSE PH traded up $1.31 during trading hours on Wednesday, reaching $709.95. The stock had a trading volume of 435,375 shares, compared to its average volume of 690,115. The firm has a 50-day moving average of $677.83 and a 200-day moving average of $647.31. The firm has a market cap of $90.72 billion, a price-to-earnings ratio of 27.34, a PEG ratio of 3.05 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 Corporation has a fifty-two week low of $488.45 and a fifty-two week high of $720.90.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The industrial products company reported $6.94 earnings per share for the quarter, beating 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 company's revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the company earned $6.51 earnings per share. Equities research analysts predict that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Increases Dividend

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

About Parker-Hannifin

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.