Pallas Capital Advisors LLC Raises Stock Holdings in Parker-Hannifin Co. (NYSE:PH)

Pallas Capital Advisors LLC increased its stake in Parker-Hannifin Co. (NYSE:PH - Free Report) by 5.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 10,652 shares of the industrial products company's stock after purchasing an additional 591 shares during the period. Pallas Capital Advisors LLC's holdings in Parker-Hannifin were worth $6,475,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Whipplewood Advisors LLC bought a new stake in Parker-Hannifin during the fourth quarter worth about $25,000. Aster Capital Management DIFC Ltd bought a new position in Parker-Hannifin during the fourth quarter valued at approximately $25,000. Millstone Evans Group LLC bought a new position in Parker-Hannifin during the fourth quarter valued at approximately $30,000. Mpwm Advisory Solutions LLC bought a new position in Parker-Hannifin during the fourth quarter valued at approximately $32,000. Finally, Kestra Investment Management LLC bought a new position in Parker-Hannifin during the fourth quarter valued at approximately $40,000. 82.44% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research analysts have commented on PH shares. Argus set a $680.00 price target on shares of Parker-Hannifin in a research report on Tuesday, May 6th. KeyCorp raised their target price on shares of Parker-Hannifin from $690.00 to $735.00 and gave the stock an "overweight" rating in a report on Friday, May 2nd. Morgan Stanley initiated coverage on shares of Parker-Hannifin in a report on Thursday, June 5th. They issued an "equal weight" rating and a $700.00 target price on the stock. Mizuho set a $785.00 target price on shares of Parker-Hannifin in a report on Friday, May 16th. Finally, Truist Financial cut their target price on shares of Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating on the stock in a report on Tuesday, April 8th. Five research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $719.71.

Insider Buying and Selling at Parker-Hannifin

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of the firm's stock in a transaction on 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 owns 2,083 shares of the company's stock, valued at approximately $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 SEC, which can be accessed through this link. Insiders own 0.39% of the company's stock.

Parker-Hannifin Trading Up 0.1%

NYSE:PH traded up $0.72 during trading hours on Wednesday, hitting $671.65. The company had a trading volume of 511,784 shares, compared to its average volume of 708,668. The company has a market capitalization of $85.82 billion, a PE ratio of 27.80, a price-to-earnings-growth ratio of 2.85 and a beta of 1.34. The stock has a 50-day moving average price of $623.09 and a 200 day moving average price of $645.18. Parker-Hannifin Co. has a 52 week low of $488.45 and a 52 week high of $718.44. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.06 and a quick ratio of 0.59.

Parker-Hannifin (NYSE:PH - Get Free Report) last released its quarterly earnings results 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 for the quarter, compared to analysts' expectations of $4.99 billion. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. The firm's revenue for the quarter was down 2.2% compared to the same quarter last year. During the same quarter in the previous year, the business posted $6.51 earnings per share. On average, equities research analysts predict that Parker-Hannifin Co. will post 26.71 EPS for the current fiscal year.

Parker-Hannifin Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 9th were given a dividend of $1.80 per share. The ex-dividend date was Friday, May 9th. This represents a $7.20 annualized dividend and a yield of 1.07%. This is a positive change from Parker-Hannifin's previous quarterly dividend of $1.63. 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.