Parker-Hannifin Corporation (NYSE:PH) is Hendley & Co. Inc.'s 7th Largest Position

Hendley & Co. Inc. increased its position in shares of Parker-Hannifin Corporation (NYSE:PH - Free Report) by 54.1% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 16,100 shares of the industrial products company's stock after purchasing an additional 5,654 shares during the quarter. Parker-Hannifin makes up approximately 3.4% of Hendley & Co. Inc.'s investment portfolio, making the stock its 7th largest position. Hendley & Co. Inc.'s holdings in Parker-Hannifin were worth $9,786,000 at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in PH. Norges Bank purchased a new stake in shares of Parker-Hannifin during the fourth quarter worth approximately $1,106,132,000. GAMMA Investing LLC increased its position in shares of Parker-Hannifin by 66,111.8% during the first quarter. GAMMA Investing LLC now owns 1,735,412 shares of the industrial products company's stock worth $1,054,870,000 after purchasing an additional 1,732,791 shares in the last quarter. Royal Bank of Canada increased its position in shares of Parker-Hannifin by 99.8% during the fourth quarter. Royal Bank of Canada now owns 2,277,001 shares of the industrial products company's stock worth $1,448,241,000 after purchasing an additional 1,137,564 shares in the last quarter. Capital World Investors purchased a new stake in shares of Parker-Hannifin during the fourth quarter worth approximately $418,174,000. Finally, OMERS ADMINISTRATION Corp increased its position in shares of Parker-Hannifin by 6,912.4% during the fourth quarter. OMERS ADMINISTRATION Corp now owns 312,472 shares of the industrial products company's stock worth $198,742,000 after purchasing an additional 308,016 shares in the last quarter. 82.44% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Parker-Hannifin

In related news, VP Jay Reidy sold 150 shares of the stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $620.37, for a total transaction of $93,055.50. Following the transaction, the vice president owned 2,083 shares of the company's stock, valued at approximately $1,292,230.71. This represents a 6.72% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.39% of the company's stock.

Parker-Hannifin Stock Performance

NYSE PH opened at $719.15 on Friday. The stock has a market cap of $91.89 billion, a PE ratio of 27.69, a P/E/G ratio of 3.10 and a beta of 1.34. The company has a current ratio of 1.21, a quick ratio of 0.70 and a debt-to-equity ratio of 0.55. Parker-Hannifin Corporation has a twelve month low of $488.45 and a twelve month high of $720.90. The stock has a fifty day simple moving average of $662.00 and a 200-day simple moving average of $643.82.

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, topping analysts' consensus estimates of $6.72 by $0.22. The business had revenue of $4.96 billion during the quarter, compared to analysts' expectations of $4.99 billion. Parker-Hannifin had a return on equity of 26.80% and a net margin of 17.14%. The company's revenue was down 2.2% compared to the same quarter last year. During the same period in the prior year, the business posted $6.51 EPS. Equities analysts anticipate that Parker-Hannifin Corporation will post 26.71 earnings per share for the current year.

Parker-Hannifin Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, June 6th. Investors of record on Friday, May 9th were paid a dividend of $1.80 per share. This is a positive change from Parker-Hannifin's previous quarterly dividend of $1.63. The ex-dividend date of this dividend was Friday, May 9th. This represents a $7.20 annualized dividend and a yield of 1.00%. Parker-Hannifin's dividend payout ratio is presently 27.72%.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on PH. Citigroup dropped their target price on Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating for the company in a report on Monday, April 14th. Truist Financial dropped their target price on Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating for the company in a report on Tuesday, April 8th. Wall Street Zen cut Parker-Hannifin from a "buy" rating to a "hold" rating in a report on Wednesday, March 19th. Barclays dropped their target price on Parker-Hannifin from $750.00 to $700.00 and set an "overweight" rating for the company in a report on Thursday, April 10th. Finally, Argus set a $680.00 target price on Parker-Hannifin in a report on Tuesday, May 6th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $719.41.

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.

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