Vontobel Holding Ltd. Grows Position in Parker-Hannifin Corporation (NYSE:PH)

Vontobel Holding Ltd. raised its stake in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 12.9% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 10,790 shares of the industrial products company's stock after buying an additional 1,231 shares during the period. Vontobel Holding Ltd.'s holdings in Parker-Hannifin were worth $6,559,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Aster Capital Management DIFC Ltd bought a new position in Parker-Hannifin in the fourth quarter valued at about $25,000. Millstone Evans Group LLC purchased a new position in shares of Parker-Hannifin in the fourth quarter worth approximately $30,000. Mpwm Advisory Solutions LLC bought a new stake in Parker-Hannifin during the fourth quarter valued at approximately $32,000. Meeder Asset Management Inc. increased its holdings in Parker-Hannifin by 214.3% during the fourth quarter. Meeder Asset Management Inc. now owns 66 shares of the industrial products company's stock valued at $42,000 after buying an additional 45 shares during the last quarter. Finally, Pilgrim Partners Asia Pte Ltd bought a new position in Parker-Hannifin in the fourth quarter worth approximately $48,000. 82.44% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

PH has been the subject of several analyst reports. Barclays reduced their price objective on Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating for the company in a research note on Thursday, April 10th. Citigroup lowered their price objective on Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating on the stock in a research report on Monday, April 14th. Wolfe Research lowered shares of Parker-Hannifin from an "outperform" rating to a "peer perform" rating in a report on Thursday, April 3rd. Morgan Stanley assumed coverage on shares of Parker-Hannifin in a report on Thursday, June 5th. They set an "equal weight" rating and a $700.00 price target on the stock. Finally, Evercore ISI increased their price objective on shares of Parker-Hannifin from $824.00 to $827.00 and gave the stock an "outperform" rating in a research note on Monday, May 19th. Five research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, Parker-Hannifin currently has a consensus rating of "Moderate Buy" and a consensus price target of $719.41.

Parker-Hannifin Price Performance

Parker-Hannifin stock traded up $7.69 during midday trading on Friday, reaching $719.15. 360,526 shares of the stock traded hands, compared to its average volume of 697,327. The stock has a market cap of $91.89 billion, a P/E ratio of 27.69, a PEG ratio of 3.07 and a beta of 1.34. The stock's fifty day moving average is $659.57 and its 200-day moving average is $643.46. The company has a quick ratio of 0.70, a current ratio of 1.21 and a debt-to-equity ratio of 0.55. Parker-Hannifin Corporation has a 12 month low of $488.45 and a 12 month high of $720.90.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its earnings results on Thursday, May 1st. The industrial products company reported $6.94 EPS for the quarter, beating analysts' consensus estimates of $6.72 by $0.22. The firm had revenue of $4.96 billion during the quarter, compared to the consensus estimate of $4.99 billion. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.14%. The company's quarterly revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the company earned $6.51 EPS. As a group, equities research analysts anticipate that Parker-Hannifin Corporation will post 26.71 EPS for the current year.

Parker-Hannifin Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 9th were issued a $1.80 dividend. This is an increase from Parker-Hannifin's previous quarterly dividend of $1.63. The ex-dividend date was Friday, May 9th. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.00%. Parker-Hannifin's dividend payout ratio (DPR) is presently 27.72%.

Insider Buying and Selling

In other Parker-Hannifin news, VP Jay Reidy sold 150 shares of the company's stock in a transaction that occurred 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 sale, the vice president directly owned 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 SEC, which is available at this link. Corporate insiders own 0.39% of the company's stock.

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.