Parker-Hannifin Co. (NYSE:PH) Shares Purchased by Parallel Advisors LLC

Parallel Advisors LLC boosted its stake in shares of Parker-Hannifin Co. (NYSE:PH - Free Report) by 42.9% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,776 shares of the industrial products company's stock after buying an additional 2,035 shares during the period. Parallel Advisors LLC's holdings in Parker-Hannifin were worth $4,119,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC lifted its position in Parker-Hannifin by 5.9% during the fourth quarter. Brighton Jones LLC now owns 1,808 shares of the industrial products company's stock valued at $1,150,000 after acquiring an additional 101 shares during the last quarter. Union Bancaire Privee UBP SA purchased a new stake in Parker-Hannifin during the fourth quarter valued at approximately $32,781,000. Perigon Wealth Management LLC lifted its position in Parker-Hannifin by 8.8% during the fourth quarter. Perigon Wealth Management LLC now owns 805 shares of the industrial products company's stock valued at $530,000 after acquiring an additional 65 shares during the last quarter. Baader Bank Aktiengesellschaft lifted its position in Parker-Hannifin by 15.2% during the fourth quarter. Baader Bank Aktiengesellschaft now owns 683 shares of the industrial products company's stock valued at $434,000 after acquiring an additional 90 shares during the last quarter. Finally, OLD National Bancorp IN lifted its position in Parker-Hannifin by 6.9% during the fourth quarter. OLD National Bancorp IN now owns 558 shares of the industrial products company's stock valued at $355,000 after acquiring an additional 36 shares during the last quarter. Hedge funds and other institutional investors own 82.44% of the company's stock.

Parker-Hannifin Stock Performance

Shares of Parker-Hannifin stock traded down $4.20 during trading on Monday, hitting $660.50. 628,933 shares of the company's stock were exchanged, compared to its average volume of 715,783. 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 business has a 50-day simple moving average of $612.05 and a 200-day simple moving average of $646.11. Parker-Hannifin Co. has a 52-week low of $488.45 and a 52-week high of $718.44. The stock has a market capitalization of $84.40 billion, a price-to-earnings ratio of 27.34, a PEG ratio of 2.85 and a beta of 1.36.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share (EPS) for the quarter, topping the consensus estimate of $6.72 by $0.22. Parker-Hannifin had a net margin of 15.87% and a return on equity of 27.34%. The firm had revenue of $4.96 billion during the quarter, compared to analysts' expectations of $4.99 billion. During the same quarter last year, the company posted $6.51 earnings per share. The firm's revenue was down 2.2% compared to the same quarter last year. On average, research analysts forecast that Parker-Hannifin Co. will post 26.71 EPS for the current year.

Parker-Hannifin Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 6th. Shareholders of record on Friday, May 9th will be issued a $1.80 dividend. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.63. The ex-dividend date is Friday, May 9th. This represents a $7.20 dividend on an annualized basis and a yield of 1.09%. Parker-Hannifin's payout ratio is presently 27.72%.

Insider Buying and Selling at Parker-Hannifin

In related news, VP Jay Reidy sold 150 shares of the business's stock in a transaction on 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 now owns 2,083 shares of the company's stock, valued at approximately $1,292,230.71. The trade was a 6.72% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.39% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms recently commented on PH. Stifel Nicolaus increased their target price on shares of Parker-Hannifin from $630.00 to $670.00 and gave the company a "hold" rating in a research report on Monday. Mizuho set a $785.00 target price on shares of Parker-Hannifin in a research report on Friday, May 16th. Truist Financial decreased their target price on shares of Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating for the company in a research report on Tuesday, April 8th. Evercore ISI upped their price target on shares of Parker-Hannifin from $824.00 to $827.00 and gave the company an "outperform" rating in a research note on Monday, May 19th. Finally, Argus set a $680.00 price objective on shares of Parker-Hannifin in a report on Tuesday, May 6th. Four analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company's stock. According to MarketBeat.com, Parker-Hannifin presently has a consensus rating of "Moderate Buy" and a consensus price target of $720.94.

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.