Deltec Asset Management LLC Has $1.60 Million Stake in Parker-Hannifin Corporation (NYSE:PH)

Deltec Asset Management LLC raised its holdings in Parker-Hannifin Corporation (NYSE:PH - Free Report) by 42.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,627 shares of the industrial products company's stock after buying an additional 780 shares during the period. Deltec Asset Management LLC's holdings in Parker-Hannifin were worth $1,597,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Dupont Capital Management Corp raised its stake in Parker-Hannifin by 7.5% in the first quarter. Dupont Capital Management Corp now owns 20,553 shares of the industrial products company's stock valued at $12,493,000 after buying an additional 1,430 shares during the period. Evanson Asset Management LLC bought a new stake in Parker-Hannifin in the first quarter valued at approximately $252,000. Good Steward Wealth Advisors LLC bought a new stake in Parker-Hannifin in the first quarter valued at approximately $294,000. Cherry Tree Wealth Management LLC raised its stake in Parker-Hannifin by 34.2% in the first quarter. Cherry Tree Wealth Management LLC now owns 102 shares of the industrial products company's stock valued at $62,000 after buying an additional 26 shares during the period. Finally, Blue Trust Inc. increased its stake in shares of Parker-Hannifin by 16.5% during the first quarter. Blue Trust Inc. now owns 1,115 shares of the industrial products company's stock worth $678,000 after purchasing an additional 158 shares during the period. Institutional investors own 82.44% of the company's stock.

Parker-Hannifin Price Performance

Parker-Hannifin stock traded down $0.56 during mid-day trading on Friday, reaching $651.73. 864,165 shares of the company were exchanged, compared to its average volume of 702,624. The company has a fifty day simple moving average of $636.98 and a 200-day simple moving average of $642.56. Parker-Hannifin Corporation has a 12 month low of $488.45 and a 12 month high of $718.44. The company has a debt-to-equity ratio of 0.55, a current ratio of 1.21 and a quick ratio of 0.70. The firm has a market cap of $83.28 billion, a PE ratio of 25.10, a PEG ratio of 3.04 and a beta of 1.34.

Parker-Hannifin (NYSE:PH - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The industrial products company reported $6.94 EPS for the quarter, topping analysts' consensus estimates of $6.72 by $0.22. The firm had revenue of $4.96 billion for the quarter, compared to analyst estimates 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% on a year-over-year basis. During the same quarter last year, the company earned $6.51 EPS. As a group, equities research analysts expect that Parker-Hannifin Corporation will post 26.71 earnings per share for the current fiscal year.

Parker-Hannifin Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, June 6th. Shareholders of record on Friday, May 9th were issued a $1.80 dividend. This represents a $7.20 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date of this dividend was Friday, May 9th. This is an increase from Parker-Hannifin's previous quarterly dividend of $1.63. Parker-Hannifin's dividend payout ratio (DPR) is currently 27.72%.

Insider Buying and Selling at Parker-Hannifin

In related news, VP Jay Reidy sold 150 shares of the firm's stock in a transaction 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 now owns 2,083 shares of the company's stock, valued at $1,292,230.71. This trade represents a 6.72% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Company insiders own 0.39% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on PH. Truist Financial lowered their target price on Parker-Hannifin from $842.00 to $717.00 and set a "buy" rating on the stock in a research note on Tuesday, April 8th. Citigroup lowered their target price on Parker-Hannifin from $795.00 to $665.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Stifel Nicolaus increased their target price on Parker-Hannifin from $630.00 to $670.00 and gave the stock a "hold" rating in a research note on Monday, June 2nd. Argus set a $680.00 target price on Parker-Hannifin in a research note on Tuesday, May 6th. Finally, Mizuho set a $785.00 target price on Parker-Hannifin in a research note on Friday, May 16th. Five analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target 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.