Czech National Bank Grows Stock Position in Parker-Hannifin Co. (NYSE:PH)

Czech National Bank grew its position in Parker-Hannifin Co. (NYSE:PH - Free Report) by 6.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 29,575 shares of the industrial products company's stock after buying an additional 1,665 shares during the period. Czech National Bank's holdings in Parker-Hannifin were worth $17,977,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in PH. Global Retirement Partners LLC boosted its holdings in Parker-Hannifin by 1.1% in the fourth quarter. Global Retirement Partners LLC now owns 1,392 shares of the industrial products company's stock valued at $886,000 after acquiring an additional 15 shares during the last quarter. FFT Wealth Management LLC grew its position in Parker-Hannifin by 1.3% in the 4th quarter. FFT Wealth Management LLC now owns 1,150 shares of the industrial products company's stock valued at $732,000 after purchasing an additional 15 shares during the period. GenTrust LLC lifted its position in Parker-Hannifin by 2.9% in the 4th quarter. GenTrust LLC now owns 524 shares of the industrial products company's stock valued at $333,000 after acquiring an additional 15 shares in the last quarter. First Manhattan CO. LLC. boosted 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 valued at $1,005,000 after buying an additional 15 shares during the last quarter. Finally, Dorsey & Whitney Trust CO LLC lifted 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 valued at $689,000 after purchasing an additional 16 shares in the last quarter. Institutional investors own 82.44% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on PH shares. Wall Street Zen lowered shares of Parker-Hannifin from a "buy" rating to a "hold" rating in a research report on Wednesday, March 19th. Wolfe Research downgraded Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a research note on Thursday, April 3rd. Truist Financial reduced their price target 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. Argus set a $680.00 price target on shares of Parker-Hannifin in a research note on Tuesday, May 6th. Finally, 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. Five equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $719.71.

Parker-Hannifin Trading Down 0.5%

NYSE:PH traded down $3.42 during trading hours on Thursday, hitting $661.72. The company had a trading volume of 637,865 shares, compared to its average volume of 712,480. The stock has a 50-day moving average price of $615.65 and a 200 day moving average price of $645.90. The company has a market capitalization of $84.55 billion, a PE ratio of 27.39, a price-to-earnings-growth ratio of 2.85 and a beta of 1.36. 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 Co. has a 52 week low of $488.45 and a 52 week high of $718.44.

Parker-Hannifin (NYSE:PH - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The industrial products company reported $6.94 earnings per share for the quarter, topping the consensus estimate of $6.72 by $0.22. The company had revenue of $4.96 billion for the quarter, compared to analysts' expectations of $4.99 billion. Parker-Hannifin had a return on equity of 27.34% and a net margin of 15.87%. The firm's revenue for the quarter was down 2.2% on a year-over-year basis. During the same period in the prior year, the firm earned $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 will be paid on Friday, June 6th. Investors of record on Friday, May 9th will be given a dividend of $1.80 per share. This represents a $7.20 annualized dividend and a yield of 1.09%. This is an increase from Parker-Hannifin's previous quarterly dividend of $1.63. The ex-dividend date is Friday, May 9th. Parker-Hannifin's dividend payout ratio is 27.72%.

Insider Activity at Parker-Hannifin

In related news, VP Jay Reidy sold 150 shares of the stock in a transaction that occurred on 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 owns 2,083 shares in the company, valued at $1,292,230.71. This represents a 6.72% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.39% of the stock is owned by insiders.

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.