Northstar Financial Companies Inc. Purchases New Holdings in Parker-Hannifin Co. (NYSE:PH)

Northstar Financial Companies Inc. bought a new position in Parker-Hannifin Co. (NYSE:PH - Free Report) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 378 shares of the industrial products company's stock, valued at approximately $241,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Global Retirement Partners LLC raised its position in shares of Parker-Hannifin by 1.1% during the fourth quarter. Global Retirement Partners LLC now owns 1,392 shares of the industrial products company's stock worth $886,000 after acquiring an additional 15 shares during the last quarter. FFT Wealth Management LLC raised its position in shares of Parker-Hannifin by 1.3% during the fourth quarter. FFT Wealth Management LLC now owns 1,150 shares of the industrial products company's stock worth $732,000 after acquiring an additional 15 shares during the last quarter. GenTrust LLC raised its position in shares of Parker-Hannifin by 2.9% during the fourth quarter. GenTrust LLC now owns 524 shares of the industrial products company's stock worth $333,000 after acquiring an additional 15 shares during the last quarter. First Manhattan CO. LLC. raised its position in shares of Parker-Hannifin by 1.0% during the fourth quarter. First Manhattan CO. LLC. now owns 1,580 shares of the industrial products company's stock worth $1,005,000 after acquiring an additional 15 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC raised its position in shares of Parker-Hannifin by 1.5% during the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 1,083 shares of the industrial products company's stock worth $689,000 after acquiring an additional 16 shares during the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Parker-Hannifin Trading Down 0.5%

NYSE:PH traded down $3.38 on Friday, reaching $663.85. The company's stock had a trading volume of 1,042,542 shares, compared to its average volume of 718,272. Parker-Hannifin Co. has a 1-year low of $488.45 and a 1-year high of $718.44. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.59 and a current ratio of 1.06. The firm has a market cap of $84.83 billion, a PE ratio of 27.48, a PEG ratio of 2.85 and a beta of 1.36. The business's 50-day moving average price is $612.05 and its two-hundred day moving average price is $646.88.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $6.72 by $0.22. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. The firm had revenue of $4.96 billion during the quarter, compared to analysts' expectations of $4.99 billion. During the same period in the previous year, the firm earned $6.51 earnings per share. The company's revenue was down 2.2% on a year-over-year basis. Equities research analysts anticipate that Parker-Hannifin Co. 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 will be paid on Friday, June 6th. Stockholders of record on Friday, May 9th will be given a dividend of $1.80 per share. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.63. This represents a $7.20 annualized dividend and a dividend yield of 1.08%. The ex-dividend date is Friday, May 9th. Parker-Hannifin's dividend payout ratio is currently 27.72%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Barclays dropped their target price on Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating for the company in a research report on Thursday, April 10th. Argus set a $680.00 price objective on Parker-Hannifin in a report on Tuesday, May 6th. Wolfe Research downgraded Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a report on Thursday, April 3rd. Mizuho set a $785.00 price objective on Parker-Hannifin in a report on Friday, May 16th. Finally, UBS Group dropped their price objective on Parker-Hannifin from $842.00 to $805.00 and set a "buy" rating for the company in a report on Friday, January 31st. Four research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $718.44.

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 stock was 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 now directly owns 2,083 shares of the company's stock, valued at $1,292,230.71. This represents a 6.72% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at 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.