Parker-Hannifin Co. (NYSE:PH) Shares Bought by Park Avenue Securities LLC

Park Avenue Securities LLC grew its holdings in Parker-Hannifin Co. (NYSE:PH - Free Report) by 72.5% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 15,075 shares of the industrial products company's stock after purchasing an additional 6,334 shares during the period. Park Avenue Securities LLC's holdings in Parker-Hannifin were worth $9,163,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Whipplewood Advisors LLC bought a new position in shares of Parker-Hannifin in the 4th quarter worth $25,000. Aster Capital Management DIFC Ltd bought a new position in Parker-Hannifin in the fourth quarter worth about $25,000. Millstone Evans Group LLC bought a new position in Parker-Hannifin in the fourth quarter worth about $30,000. Mpwm Advisory Solutions LLC purchased a new stake in shares of Parker-Hannifin during the fourth quarter valued at about $32,000. Finally, Kestra Investment Management LLC bought a new stake in shares of Parker-Hannifin in the 4th quarter valued at about $40,000. 82.44% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, VP Jay Reidy sold 150 shares of the business's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $620.37, for a total transaction of $93,055.50. Following the transaction, the vice president now directly owns 2,083 shares in the company, valued at approximately $1,292,230.71. The trade was a 6.72% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.39% of the stock is owned by company insiders.

Parker-Hannifin Stock Performance

PH traded down $1.40 during midday trading on Monday, hitting $669.86. 475,387 shares of the company were exchanged, compared to its average volume of 710,748. The firm has a market capitalization of $85.59 billion, a price-to-earnings ratio of 27.73, a price-to-earnings-growth ratio of 2.85 and a beta of 1.34. The company's 50 day simple moving average is $616.90 and its 200 day simple moving average is $645.07. The company has a current ratio of 1.06, a quick ratio of 0.59 and a debt-to-equity ratio of 0.51. Parker-Hannifin Co. has a 1-year low of $488.45 and a 1-year high of $718.44.

Parker-Hannifin (NYSE:PH - Get Free Report) last announced 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. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. The company had revenue of $4.96 billion during the quarter, compared to analysts' expectations of $4.99 billion. During the same period last year, the business earned $6.51 earnings per share. Parker-Hannifin's quarterly revenue was down 2.2% on a year-over-year basis. As a group, sell-side analysts predict that Parker-Hannifin Co. will post 26.71 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 9th were issued a $1.80 dividend. This represents a $7.20 annualized dividend and a yield of 1.07%. This is a boost from Parker-Hannifin's previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, May 9th. Parker-Hannifin's payout ratio is presently 27.72%.

Analyst Ratings Changes

Several equities research analysts have weighed in on PH shares. Wall Street Zen downgraded shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research note on Wednesday, March 19th. Stifel Nicolaus upped their target price on Parker-Hannifin from $630.00 to $670.00 and gave the company a "hold" rating in a research report on Monday, June 2nd. Evercore ISI raised their price target on Parker-Hannifin from $824.00 to $827.00 and gave the stock an "outperform" rating in a report on Monday, May 19th. Argus set a $680.00 price objective on shares of Parker-Hannifin in a report on Tuesday, May 6th. Finally, Morgan Stanley initiated coverage on shares of Parker-Hannifin in a research report on Thursday. They issued an "equal weight" rating and a $700.00 price objective for the company. Five analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to data from MarketBeat, Parker-Hannifin has a consensus rating of "Moderate Buy" and a consensus target price of $719.71.

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.