Legacy Capital Wealth Partners LLC Takes $279,000 Position in Parker-Hannifin Corporation (NYSE:PH)

Legacy Capital Wealth Partners LLC acquired a new stake in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 459 shares of the industrial products company's stock, valued at approximately $279,000.

Other large 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 fourth quarter valued at about $25,000. Millstone Evans Group LLC purchased a new position in shares of Parker-Hannifin in the fourth quarter worth about $30,000. Mpwm Advisory Solutions LLC purchased a new position in shares of Parker-Hannifin in the fourth quarter worth about $32,000. Olde Wealth Management LLC purchased a new position in shares of Parker-Hannifin in the first quarter worth about $35,000. Finally, Chilton Capital Management LLC increased 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 worth $39,000 after buying an additional 60 shares during the period. Institutional investors own 82.44% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on PH shares. Truist Financial reduced their price target on Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Citigroup restated 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. Evercore ISI boosted their price target on Parker-Hannifin from $824.00 to $827.00 and gave the company an "outperform" rating in a report on Monday, May 19th. Wolfe Research downgraded Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a report on Thursday, April 3rd. Finally, Wells Fargo & Company boosted their price target on Parker-Hannifin from $670.00 to $770.00 and gave the company an "overweight" rating in a report on Tuesday, July 1st. Five equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $739.12.

Insider Buying and Selling

In other news, VP Jay Reidy sold 150 shares of Parker-Hannifin stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $620.37, for a total value of $93,055.50. Following the sale, the vice president directly owned 2,083 shares of the company's stock, valued at approximately $1,292,230.71. The trade was a 6.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.39% of the stock is currently owned by corporate insiders.

Parker-Hannifin Stock Performance

PH traded down $0.73 during mid-day trading on Friday, reaching $722.53. 485,874 shares of the company traded hands, compared to its average volume of 687,283. The stock has a market capitalization of $92.32 billion, a P/E ratio of 27.82, a P/E/G ratio of 3.11 and a beta of 1.34. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 0.55. The company's fifty day moving average price is $680.98 and its 200-day moving average price is $648.50. Parker-Hannifin Corporation has a 52-week low of $488.45 and a 52-week 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, beating analysts' consensus estimates of $6.72 by $0.22. The business had revenue of $4.96 billion during the quarter, compared to analyst estimates of $4.99 billion. Parker-Hannifin had a net margin of 17.14% and a return on equity of 26.80%. The company's quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the previous year, the business earned $6.51 EPS. On average, sell-side analysts expect that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Increases Dividend

The firm also recently declared 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. The ex-dividend date of this dividend was Friday, May 9th. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.63. This represents a $7.20 dividend on an annualized basis and a yield of 1.00%. Parker-Hannifin's dividend payout ratio (DPR) is currently 27.72%.

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.